Sensex rallies 700 points, Nifty above 24,000; Adani stocks surge

Benchmark stock markets rebounded sharply on Friday, driven by gains in IT, financial, and energy stocks. The recovery follows the steepest decline in nearly two months during the previous session.
The S&P BSE Sensex surged 663 points to reach 79,702.09 by 10:33 am, while the NSE Nifty50 climbed 154.60 points to trade at 24,084.95. This marked a significant recovery after both indices fell by approximately 1.5% on Thursday.
Adani Group stocks were among the top performers, with Adani Green Energy and Adani Energy Solutions jumping nearly 13% each, leading the gains across the conglomerate’s listed entities.
On the Nifty50, Cipla, Sun Pharma, M&M, Adani Ports, and Bharti Airtel emerged as the top gainers. Meanwhile, Shriram Finance, SBI Life, Power Grid, Coal India, and Hero MotoCorp were the top laggards.
The market rally comes ahead of India’s GDP data release, which is expected after market hours. Economists project the economy to have grown by 6.5% in the July-September quarter, the slowest pace in 18 months, owing to weakening demand.
Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, highlighted the puzzling volatility in foreign institutional investor (FII) activity. “Yesterday’s massive FII sell-off of ₹11,756 crore after days of buying is hard to explain. Whether this is a one-off or signals a broader trend will be clear in the coming days. Investors are advised to adopt a cautious wait-and-watch approach.”
He also noted that the inclusion of 45 new stocks in the F&O segment could trigger stock-specific action starting today.
For long-term investors, Vijayakumar recommended accumulating large-cap stocks in sectors such as financials, IT, capital goods, and telecom, emphasizing that a “buy-on-dips” strategy may not yield immediate gains but could be rewarding over a medium to long-term horizon.