As the Indian stock market reeled under severe selling pressure, with the headline indices falling to multi-month lows, Adani Group’s Group CFO, Jugeshinder Robbie Singh, took to X to comment on the recent market volatility, highlighting the difference between short-term market sentiment and the underlying value of infrastructure assets.
Sharing his views on X, Singh said, “Mood is ephemeral; stone is eternal. While the crowd reacts to ticker noise, our infrastructure continues to weigh heavy and true.”
He further said, “In the end, substance always outlasts speculation. Look at the assets, not at the hyperventilating speculators.”
Singh’s comments came amid intense selling pressure in Indian equities, with investors closely tracking market movements as volatility remained elevated. His remarks emphasized the Adani Group’s focus on its underlying infrastructure assets and long-term fundamentals despite short-term fluctuations in market sentiment.
Market sell-off deepens
The Indian stock market suffered heavy losses in Thursday’s trade, October 8, in a broad-based sell-off, dragging the key indices down nearly 2% as investor sentiment was hit by a sharp jump in crude oil prices and surging global bond yields.
The Nifty slumped 1.71% in trade to settle at 22,216, its lowest level in 2026, while the Sensex concluded the session at 71,461, down 1.62% from the previous close. All sectoral indices slumped in trade, with metals leading the losses, followed by realty, media, oil and gas, auto, pharma, cement, and FMCG.
Today’s slump widened the Nifty 50’s year-to-date losses to 15%, positioning it for its biggest annual decline since 2011, when it crashed 24.62%. If not for the support from domestic mutual funds, the fall would have been even more severe.
Meanwhile, FPIs extended their selling spree in the Indian stock market in October, withdrawing another ₹31,282 crore in just four trading sessions. This came on top of the ₹35,857 crore worth of selling recorded in September, according to NSDL data.
With the October outflows so far, total FPI withdrawals from Indian equities in 2026 have reached ₹2.91 lakh crore, surpassing the ₹1.66 lakh crore outflow recorded during the whole of 2025.
In the commodity market, the price of Brent crude oil jumped nearly 4% on Thursday as rising tensions in the Middle East added to uncertainty over supplies. Recent media reports showed that the White House had asked the Pentagon to draw up strike options against Iran that could be executed before the midterm elections.
US President Donald Trump also said on Wednesday that he no longer wanted a deal with Iran.
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