Sensex, Nifty tumble amid broad-based selloff; Adani group stocks nosedive

A vendor walks past by a poster of carnivore and bull successful southbound Mumbai. File | Photo Credit: The Hindu

Equity benchmark indices Sensex and Nifty tumbled connected Thursday (November 21, 2024) amid a crisp autumn successful Adani radical stocks aft billionaire industrialist Gautam Adani was charged successful the U.S. for alleged bribery and fraud.

Besides, unabated overseas money outflows and anemic trends successful Asian and European peers besides dragged benchmark indices lower.

The BSE benchmark Sensex tanked 422.59 points oregon 0.54% to settee astatine 77,155.79. During the day, it mislaid 775.65 points oregon 0.99% to 76,802.73.

The NSE Nifty slumped 168.60 points oregon 0.72% to 23,349.90.

From the 30-share Sensex pack, Adani Ports tumbled implicit 13% aft Gautam Adani was charged by U.S. prosecutors implicit his relation successful an alleged years-long strategy to wage $250 cardinal bribe to Indian officials successful speech for favourable presumption for star powerfulness contracts.

All different Adani radical stocks, including Adani Enterprises, Adani Energy Solutions, Adani Ports and Adani Green Energy, fell sharply by up to astir 23%.

State Bank of India, NTPC, ITC, Asian Paints, Bajaj Finance and Bajaj Finserv were besides among the large laggards.

In contrast, Power Grid, UltraTech Cement, HCL Technologies and Axis Bank were among the gainers.

Foreign Institutional Investors (FIIs) offloaded equities worthy ₹3,411.73 crore connected Tuesday (November 19, 2024), according to speech data.

The Indian banal markets were closed connected Wednesday (November 20, 2024) owed to assembly elections successful Maharashtra.

In Asian markets, Seoul, Tokyo and Hong Kong settled lower, portion Shanghai ended higher.

European markets were trading successful the antagonistic territory. The U.S. markets ended mostly successful the affirmative zone.

Global lipid benchmark Brent crude jumped 1.13% to $73.71 a barrel.

Snapping its 4 days of decline, the BSE benchmark Sensex had climbed 239.37 points oregon 0.31% to settee astatine 77,578.38 connected Tuesday (November 19, 2024). The Nifty besides bounced backmost connected Tuesday aft falling successful the past 7 trading days. It roseate 64.70 points oregon 0.28% to settee astatine 23,518.50.

Published - November 21, 2024 04:32 p.m. IST