Indian domestic equity indice Sensex opened high on Monday at 450 points and is hovering around 500 points at 60,400 points while Nifty opened above 17,680 points and is about 200 points above with Adani Enterprises gaining a steep 8 per cent rise.
Indian shares logged weekly gains on Friday after U.S. boutique investment firm GQG Partners' $1.87 billion investments in Adani group stocks spurred a broad-based rally and improved risk sentiment. Both Nifty 50 and Sensex posted their best day in nearly four months.
FII ended up as net buyers last week thanks to an inflow of a whopping ₹12,770.81 crore which is most likely due to the mega-buying from foreign investors in four of Adani companies. US-based GQG Partners purchased equity shares worth a massive ₹15,446 crore in a series of secondary block deals in Adani Enterprises, Adani Green Energy, Adani Ports, and Adani Transmission.
Indian shares logged weekly gains on Friday after US-based investment firm GQG Partners' picked $1.87 billion stake in Adani stocks that spurred a broad rally across the market.
The stake purchase by the Australia-listed investment firm marked the first major investment in billionaire Gautam Adani's conglomerate since a short-seller's critical report resulted in seven of the Indian group's listed firms losing about $130 billion in market value in a month.
Adani shares surged on Friday easing concerns about the group's ability to attract funding, while the conglomerate lined up more road shows to shore up investor confidence.