Adani Shares Snap Two-Day Winning Streak As Most Adani Group Stocks Trade Lower Today

After seeing a continuous rally for two days this week, the share price of Adani Group stocks failed to sustain the momentum on Thursday. Shares of most Adani group companies including Adani Enterprises, Adani Energy Solutions, Adani Power, Adani Ports, Adani Wilmar, Adani Total Gas, and Adani Green Energy- traded in the red territory today possibly due to not-so-positive sentiment in the broader market which saw the two benchmark indices Sensex and Nifty trading lower in the intraday trading.At one point during the day, the share price of Adani Enterprises slumped over 1%. Adani shares declined despite there being no market-sensitive announcement by the company till the time of writing this article.

This week, Tuesday proved to be the best day for Adani group firms since the publication of the Hindenburg Research report on January 24 this year. Adani stocks rallied after the Supreme Court last week reserved its order on a batch of petitions concerning the Adani-Hindenburg row. The top court noted that it had no reason to "discredit" market regulator Securities and Exchange Board of India's (Sebi) investigation against the Indian conglomerate.

The court said that it does not have to treat what was stated in the Hindenburg report as a "true state of affairs". The SC bench also observed that it cannot ask a statutory regulator to take as a "gospel truth" something which was published in the media.

A look at today's share price performance of Adani stocks:

Today, the share price of Adani Energy Solutions tumbled 2.47% at Rs 854.65 per share at 12.57 pm IST and shares of Adani Ports and Special Economic Zone gained were down 0.71% at Rs 829.25 per share.

Adani Power and Adani Wilmar shares were down 2.70% and 2.29% at Rs 421.85 and Rs 339.65 respectively at 1:00 pm IST. Shares of Adanu Total Gas were down 3.28% at Rs 708.70 per share at 1:03 pm IST.

Meanwhile, the share price of Adani Green Energy fell 3.05% at Rs 1009.00 per share at 1:01 pm IST.