Sensex drops 725 points, Adani shares continue to slide
Mumbai : Equity benchmark indices fall in the early hours of trade on Friday dragged down by banking shares and Reliance Industries along with continuous foreign fund outflows.
At 11 am, the Sensex was down 725.38 points or 1.20 percent at 59,479.68, and the Nifty was down 198.90 points or 1.11 percent at 17,693.05. About 771 shares have advanced, 2216 shares declined, and 121 shares are unchanged.
The Sensex was opened at 59460.58 down 744.48 points or 1.24 percent, and the Nifty was opened at 17686.50, down 205.50 points or 1.15 percent.
Meanwhile, Adani group stocks have continued to slide following the allegations by Hindenberg Research against it. Adani Enterprises dropped by 5.8 percent to Rs.3192.25, while Adani Transmission fell by whopping 15.88 percent to Rs. 2118 and Adani port and SEZ declined by 7.54 percent to Rs.659.40 on the NSE.