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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.
Asian Markets Trade Mixed
Sensex, Nifty Seen Higher At Open
Thai Bourse May Extend Losing Streak
Japanese Market Notably Higher
Indonesia Stock Market May Spin Its Wheels On Friday
Australian Market Modestly Higher
Hong Kong Shares Expected To Open To The Downside
