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India Stocks Slip After Three-Day Rally as Adani Jumps, Pakistan’s KSE-100 Holds Near Record

SEBI’s clearance of Adani triggered stock-specific strength against a backdrop of consolidation.

Overview

  • At the Sept. 19 close, the Sensex fell 387.73 points to 82,626.23 and the Nifty dropped 96.55 points to 25,327.05, ending a three-session rise.
  • Profit-taking in heavyweight banks and IT led declines, while Adani group shares climbed up to about 13% after the regulator dismissed manipulation allegations.
  • Provisional data showed foreign investors bought Rs 366.69 crore and domestic institutions bought Rs 3,326.56 crore, indicating continued buying even as indices eased.
  • Pakistan’s KSE-100 hit another intraday peak before late selling left a near-flat finish at 158,037.37, with analysts tying the rally to the SaudiPakistan Strategic Mutual Defence Agreement.
  • Global cues stayed supportive after the Federal Reserve’s 25 bps cut and record Wall Street closes, though Asian trading was mixed and Brent crude hovered near $67.