Adani group stocks, Nifty heavyweights lift Indian equities

** India's NSE Nifty 50 NIFTY adds 0.57% while S&P BSE Sensex SENSEX gains 0.5%

** Top two heavyweights on Nifty, HDFC Bank HDFCBANK and Reliance Industries RELIANCE1! up 0.5% and 1.4%, respectively

** Twelve out of 13 major sectoral indexes trade in green, Nifty Metal index CCNXMETAL, top sectoral gainer, adds 3%

** Adani group stocks, including Ambuja AMBUJACEM and ACC ACC, up between 2.1%-6.2%

** Shriram Finance SHRIRAMFIN pares early gains to trade 1.3% higher, top gainer in volatile heavyweight Nifty Financial Services CNXFINANCE after it unveiled plans to sell housing finance business

** Jindal Steel & Power JINDALSTEL up 4.2% after Q4 profit rise

** Meanwhile, volatility INDIAVIX hovers around 19-month-high levels

** Struggle to find value in market with most sectors, stocks trading at full-to-rich and outlandish valuations, with absolutely no link to fundamentals, says Kotak Institutional Equities

** Broader small- CNXSMALLCAP and mid-caps CNXMIDCAP add 1.6% and 0.9%, respectively

** Foreign investors are loading up on options to hedge their equity portfolios on worries over outcome of Indian elections