On Monday, Indian stocks saw a slight decrease in trading value. However, the decline was somewhat offset by better than expected industrial output and retail sales data from China.
The S&P BSE Sensex, a benchmark index, dropped by 177 points to 72,465 during the early trading period, marking a 0.2 percent decrease. Similarly, the broader NSE Nifty index also experienced a drop of 59 points, which represented a 0.3 percent decrease, landing at 21,964.
Shares belonging to Adani Group experienced a slump following news that U.S. prosecutors have expanded their investigation into the Group. They are focusing on potential bribery allegations and the actions of the Group's billionaire founder, Gautam Adani. Consequently, Adani Enterprises' value decreased by 3.7 percent, Adani Ports dropped by 3.5 percent, and Adani Power saw a 1.4 percent downturn.
Asian Paints, Power Grid Corp, and UPL also saw decreases in their shares by 1-2 percent. However, Apollo Hospitals Enterprise, Tata Steel, JSW Steel, and Mahindra & Mahindra experienced increases, rallying by 1-3 percent.
Zee Entertainment Enterprises saw a 1.5 percent increase following reports of restructuring its operations after a merger with Sony fell through. Additionally, NHPC's shares rose by 1.2 percent following their successful bid on a 200 megawatt solar power project in Gujarat.
RailTel Corp experienced a 1.6 percent gain after securing a work order worth Rs. 130 crores from Bihar Education Project Council's State Project Director. Lastly, shares in DroneAcharya Aerial Innovations surged by 4.5 percent after the company won a contract to supply IT hardware for the Indian Army's Drone Lab situated in Jammu and Kashmir.
