India's market regulator says markets stable amid Adani stock rout

The statement by the Securities and Exchange Board of India comes amid a rout in shares of the Adani group and follows a similar assurance from the central bank which said that the banking sector remained stable.

"During the past week, unusual price movement in the stocks of a business conglomerate has been observed," the regulator said without naming any specific entity. It said mechanisms are in place to address excessive volatility in specific stocks, adding: "This mechanism gets automatically triggered under certain conditions of price volatility in any stock."

Any matters related to specific entities will be examined and appropriate action will be taken after due examination, the regulator said.

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Financials aid rise in Indian shares; Adani stocks cap gainsIndian shares rose on Friday, aided by rise in financials and optimism that the rate hike cycle may be near its end after global central banks hinted at inflation easing, while the ongoing rout in Adani group stock capped gains. Meanwhile God Father of Adani: Adilsha17659260 не Нью-Йоркская фондовая биржа))
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