Markets open lower, Nifty below 17,500, Adani Group stocks fall


Mumbai: Indian markets open in lower on Thursday with Nifty below 17500 points. At 09:16 hrs , the Sensex is down 413.60 points or 0.69% at 59294.48, and the Nifty down 145.50 points or 0.83% at 17470.80. About 918 shares have advanced, 1009 shares declined, and 105 shares are unchanged.

Shares of Adani Enterprises continued to decline for the second straight day. The Adani group flagship company, which was crashed 28 percent on Wednesday, has extended the loses by 10% to Rs.1915.85 on the BSE in the early hours of Thursday.

Other Adani Group shares also continued to decline with Adani Ports & SEZ dropped by 10% to Rs. 446 and Adani Power dropped by 4.98% to Rs.202.

Meanwhile, Adani group-controlled ACC cement also dropped by 0.67 percent to Rs.1832, while NDTV dropped by 5 percent to Rs.222.85 on the BSE.

Yesterday, Adani Group decided to call off its Rs.20,000 crore Follow on public Offer (FPO) and refund investors money after its shares crash by 28 percent as Credit Suisse stopped accepting Adani group bonds as collateral.


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