MC A10 index gains for third straight day, ends 2% higher led by Adani's energy portfolio

Representative image.

MC A10 index – a sentimeter of Adani Group stocks – extended the winning run to another day on March 2 as buying continued in all Adani Group stocks. It was up 1.72 percent to 33.49. This was the third straight day of gains.

The index captures the real-time price movement in all 10 Adani group stocks. The individual companies in A10 have weights in proportion to their total market cap.

All 10 stocks saw buying taking the index higher. The heavy lifting was done by Adani Green Energy, Adani Power, Adani Transmission, Adani Wilmar and NDTV that were locked at 5 percent upper circuit.

This was despite the Supreme Court asking the Securities Exchange Board of India (SEBI) to probe whether the conglomerate had violated any securities law. SEBI will submit its report within two months, said the apex court.

Welcoming the order, Adani group chairman Gautam Adani tweeted, "It will bring finality in a time bound manner. Truth will prevail."

The shares also saw heavy interest in the block deal window, even as the conglomerate denied reports of the $3-billion credit line from a sovereign wealth fund.

About 3.9 crore shares, amounting to 3.5 percent equity of Adani Enterprises, changed hands on March 2. The deal was worth Rs 5,520 crore. Additionally, Adani Ports, Adani Transmission and Adani Green Energy saw block deals of 4.1 percent, 2.5 percent and 3.5 percent stake, respectively.