The Indian stock market experienced a mixed trading session today, September 19, 2025. While the Sensex initially dropped around 100 points and the Nifty fell below the 25,400 mark, Adani Group stocks surged, fueled by a favorable ruling from the Securities and Exchange Board of India (SEBI).

Market Performance:

Early trading saw the Nifty 50 open in the red, trading below 25,400, while the BSE Sensex was down almost 150 points. Around 9:16 AM, the Nifty50 was trading at 25,393.55, a decrease of 30 points or 0.12%, and the BSE Sensex was at 82,871.61, down 142 points or 0.17%. Gift Nifty also signaled a negative start for the domestic benchmark indices.

On Thursday, the Indian equity benchmarks closed in the green for the third straight session after the US Federal Reserve cut its key interest rate by 25 basis points and signaled the possibility of two additional rate reductions this year. The NSE Nifty 50 ended 93.35 points or 0.37% higher at 25,423.60, and the BSE Sensex closed 320.25 points or 0.39% up at 83,013.96.

Adani Stocks Surge:

Adani Group stocks experienced a significant rally following SEBI's dismissal of allegations leveled by Hindenburg Research against the group and its chairman, Gautam Adani. The gains were broad-based across the group's listed entities. Adani Power led the surge, climbing as much as 9.6%, while Adani Enterprises, the flagship firm, rose around 5%. Adani Total Gas soared 10%.

SEBI's investigation concluded that there were no violations of regulations. The regulator noted that transactions flagged by Hindenburg took place when dealings with unrelated parties did not qualify as related party dealings and that all loans were repaid, funds were used for intended purposes, and there was no fraud or unfair trade practice. Gautam Adani expressed that the SEBI findings reinforced that the short-seller's claims were baseless.

Global Cues and Market Outlook:

Asian markets opened higher, tracking the bullish sentiment from Wall Street, where major indices closed at all-time highs after the US Federal Reserve's interest rate cut.

Despite the initial dip, market experts anticipate the upward trajectory to persist, with tariff-related developments influencing short-term market sentiment. Shrikant Chouhan from Kotak Securities noted that as long as the market trades above 25,300/82,700, the bullish sentiment is likely to continue, with immediate resistance at 25,500/83,300.

Key Levels to Watch:

For the Nifty, support is placed at 25,300 and 25,150, with crucial resistance at 25,500. A decisive move above this level could trigger a rally towards 26,000. On the downside, a fall below 25,300/82,700 could make the uptrend vulnerable. The Bank Nifty is expected to maintain a positive bias, heading towards 56,000-56,150 levels.