Chaos in the Indian stock market. Heavy American allegations against Adani, lower circuit in many stocks. NIFTY fell till 23280.

This morning, 21 November 2024the Indian stock market presented a different picture. As soon as Nifty50 opened, lines of worry were clearly visible on the faces of investors. 23,400 level After opening below, Nifty straightened 23,280.60 Fell till. This 250 point drop is more than a simple fluctuation.

Nifty50: What is the reason for this decline?

Market experts immediately started their analyses. Everyone was trying to understand what happened due to which the market suddenly fell.

Bearish Control

“The bears (selling investors) have completely dominated the market,” said an expert. Every time Nifty goes up a little, investors start selling it. This trend is continuing and due to this the pressure on the market is increasing.

impact of global events

Apart from this, movements in markets around the world are also affecting the Indian stock market.

• US market Fluctuations in.
• Russia-Ukraine tensions News of.
• Weakness in Asian markets.
  All this together has weakened the confidence of Indian investors.

technical signals

Nifty50 has 200-day moving average (DMA) Traded below. Experts say that if this 23,333 And 23,213 If it fails to find support at the Rs. 1000 level, the decline could be deeper.

Adani Stocks: Another Shock

When the market news was already tense, the news from Adani Group stocks added fuel to the fire.

corruption allegations

A big news surprised investors early in the morning. US federal prosecutors Adani Group chief Gautam Adani and his associates $250 million Accused of giving bribe. The matter was said to be related to Indian solar energy contracts.

Huge fall in share prices

This news had a direct impact on the stocks of Adani Group.

• Adani Enterprises Shares fell 10% to ₹2,539.35.
• Adani Green Energy It fell 17% to close at ₹1,172.50.
  This fall shows that the controversies and allegations of the last few months have badly shaken Adani stocks.

Investor reaction

“It has become very risky to invest in these stocks now,” said one investor. SEC Following the allegations, Adani Group's international reputation has also suffered. Investors are now staying away from these stocks to save their money.