Sensex, Nifty Tumble Amid Broad-Based Selloff; Adani Group Stocks Nosedive

Mumbai: Equity benchmark indices Sensex and Nifty tumbled on Thursday amid a sharp fall in ani group stocks after billionaire industrialist Gautam ani was charged in US for alleged bribery and fraud.

Besides, unabated foreign fund outflows and weak trends in Asian and European peers also dragged benchmark indices lower.

BSE benchmark Sensex tanked 422.59 points or 0.54 per cent to settle at 77,155.79. During day, it lost 775.65 points or 0.99 per cent to 76,802.73.

NSE Nifty slumped 168.60 points or 0.72 per cent to 23,349.90.

From 30-share Sensex pack, ani Ports tumbled over 13 per cent after Gautam ani was charged by US prosecutors over his role in an alleged years-long scheme to pay USD 250 million bribe to Indian officials in exchange for favourable terms for solar power contracts.

All or ani group stocks, including ani Enterprises, ani Energy Solutions, ani Ports and ani Green Energy, fell sharply by up to nearly 23 per cent.

State Bank of India, NTPC, ITC, Asian Paints, Bajaj Finance and Bajaj Finserv were also among major laggards.

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

Foreign Institutional Investors (FIIs) offloed equities worth Rs 3,411.73 crore on Tuesday, according to exchange data.

Indian stock markets were closed on Wednesday due to assembly elections in Maharashtra.

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

European markets were tring in negative territory. US markets ended mostly in positive zone.

Global oil benchmark Brent crude jumped 1.13 per cent to USD 73.71 a barrel.

Snapping its four days of decline, BSE benchmark Sensex h climbed 239.37 points or 0.31 per cent to settle at 77,578.38 on Tuesday. Nifty also bounced back on Tuesday after falling in past seven tring days. It rose 64.70 points or 0.28 per cent to settle at 23,518.50.