Sensex resumes fall after 1-day break, sinks 700 pts, Nifty below 23,300; Adani stocks bleed
Sensex and Nifty 50, opened in the red on Thursday, weighed down by declines in Adani stocks following the indictment of Adani Group’s billionaire chairman in New York, over his alleged involvement in a multibillion-dollar bribery and fraud scheme.
The BSE Sensex was trading 765 points, or 1%, lower at 76,813. The Nifty50 was down 218 points, or 0.93%, trading at 23,299 around 9:42 am.
Adani Enterprises and Adani Ports were the top laggards among Nifty stocks, each falling by 10%. Other stocks like SBI, Dr. Reddy's Laboratories, and Britannia also opened in the red.
Meanwhile, other Adani Group stocks tumbled as much as 20% following charges against Gautam Adani and seven others in the United States over their alleged involvement in a multibillion-dollar bribery and fraud scheme. Prosecutors announced the charges on Wednesday, accusing the group of bribing Indian officials to secure solar energy contracts.
In addition to Adani Enterprises and Adani Ports, stocks such as Adani Energy Solutions and Adani Total Gas opened with a 20% lower circuit, while ACC, Adani Wilmar, and Ambuja Cement faced 10% lower circuits. NDTV and Adani Green Energy shares dropped by 11% and 19%, respectively.
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