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Indian Shares Are Expected To Open Slightly Higher On Friday. This Comes After A Drop To Five-month Lows In The Previous Session. Focus Remains On Adani Group Stocks, Which Lost About $27 Billion In Market Value. As Of 08:18 A.m. IST, Gift Nifty Futures Were At 23,438, Signaling A Modest Rise For The Nifty 50 Compared To Thursday's Close Of 23,349.9.

Impact Of Adani Group On The Indian Stock Market

The Market Fell After U.S. Prosecutors Indicted Gautam Adani, The Billionaire Founder Of The Adani Group, For Alleged Bribery And Fraud. The Adani Group Denied The Charges, Calling Them "baseless." Despite This, The Stock Remains Under Heavy Scrutiny.

Devarsh Vakil From HDFC Securities Said, "The Charges Against Gautam Adani Worsened Investor Sentiment, Already Weakened By Unfavorable Global Conditions." The Market Had Been Under Pressure Due To Weak Corporate Earnings And Continued Foreign Capital Outflows.

Geopolitical Risks And Adani Stocks

The Nifty 50 And BSE Sensex Fell By 0.8% And 0.6%, Respectively, In The Past Three Days. This Marks Their Third Consecutive Weekly Loss. Other Asian Markets Gained, Following Wall Street's Positive Performance. Strong U.S. Labor Market Data Helped Boost Investor Sentiment.

However, Adani Group Assets Remain Under Pressure. U.S. dollar Bonds Linked To The Group Saw Losses In Early Asian Trading. Additionally, Kenya Canceled A Nearly $2 Billion Procurement Process That Would Have Given Adani Control Over The Main Airport.

Analysts Predict More Volatility, With Tensions Rising From The Russia-Ukraine Conflict. This Geopolitical Instability Has Pushed Oil And Gold Prices Up, Increasing Uncertainty For Investors.

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