Adani Ports & Total Gas Lead Market Gains: Here's Why

In this market update, Kunal Rambhia, Founder of The Streets, shares his insights on the recent surge in Adani Group stocks. He attributes this sharp movement to unconfirmed news reports suggesting that Adani Group representatives are in discussions with US officials, possibly seeking the dismissal of criminal charges related to an ongoing bribery investigation. Kunal highlights that such developments could be fuelling positive sentiment across the sector. He also emphasises the technical strength in stocks like Adani Enterprises and Adani Green, noting that they have been consolidating for the past five to six months, forming a solid base on the charts. Kunal points out that today’s highs in these counters could act as breakout zones, particularly if Adani Enterprises crosses the ₹2500 mark, with potential to reach ₹2800. While remaining selectively bullish, he places Adani Enterprises and Adani Green as top priorities for investors keeping an eye on this sector.