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Sensex, Nifty Follow Global Peers Lower; Adani Group Stocks Worst Hit
(RTTNews) - Indian shares traded sharply lower on Thursday, mirroring weak global cues on worries about rising U.S. Treasury yields and the ongoing Israel-Hamas war.
The benchmark S&P BSE Sensex was down 598 points, or 0.9 percent, at 63.455 in early trade, while the broader NSE Nifty index fell 191 points, or 1 percent, to 18,930.
Adani Enterprises tumbled 3.6 percent, Adani Ports dropped 1.6 percent and Adani Power plunged 6 percent on a Bloomberg report that India's accounting regulator has initiated an inquiry against one of the member firms of the Group's long-time auditors EY.
Tech Mahindra fell 2.6 percent after quarterly profit plunged 61 percent year-on-year.
Hindalco, Mahindra & Mahindra and Bajaj FinServ gave up 2-3 percent.
Indus Towers was down more than 1 percent despite posting 49 percent growth in Q2 net profit.
Jubilant Foodworks plummeted 5.4 percent as it reported a 40 percent year-on-year decline in standalone profit for the quarter ended September FY24.
Axis Bank rose over 1 percent on reporting a 10 percent rise in its Q2 net profit. Chalet Hotels edged up slightly on robust Q2 results.
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