MC A10 Index snaps six-day winning run, drops 3% led by Adani Enterprises

The index captures the real-time price movement in all 10 Adani Group stocks.

MC A10 Index – a sentimeter of Adani Group stocks – snapped a six-day stellar winning run to close down 3.06 percent to 39.91 as traders preferred to book profits in the Group stocks.

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.

Overall, Adani Group stocks ended mixed. All stocks part of the future and options (F&O) segment ended the day lower while those not part of the segment registered gains. Adani Enterprises was the biggest loser, down nearly 5 percent followed by Adani Ports that fell over 2 percent. ACC and Ambuja Cement also ended the day in the red.

On the other hand, Adani Green Energy, Adani Power, Adani Total Gas and Adani Transmission ended the day at their respective upper circuit limits.

Despite the cut, the cumulative market cap of the Adani Group stocks reached Rs 9.22 lakh crore.

Meanwhile, more shares belonging to some Adani Group companies have been encumbered, a trustee said on Wednesday. SBICap Trustee said in a notice to exchanges that a further 0.99 percent shares in Adani Green Energy were pledged “for the benefits of the lenders” of Adani Enterprises. An additional 0.76 percent shares in Adani Transmission were also pledged to banks, the trustee said.

SBICAP Trustee Company Ltd. is a unit of State Bank of India, the country’s largest lender.