Markets dip amid selloff in Adani group stocks

Conglomerate's combined market capitalisation falls by 2.2 trillion

- SUNDAR SETHURAMAN

Indian equity benchmarks on Thursday declined as the selloff in the investors, who are reeling from the pressure of selling by foreign portfolio investors (FPIs) and weak corporate results.

The benchmark Sensex ended the session at 77,156, a decline of 423 points or 0.5 per cent. The Nifty 50 finished at 23,350, a drop of 169 points or 0.7 per cent. However, the correction in Indian equities on Thursday was more modest than what it was in the aftermath of allegations of market manipulation against the Adani group by Hindenburg Research, a short-seller.

The Nifty 50 and Sensex had declined by 1.6 per cent and 1.5 per cent on January 27, 2023, when Hindenburg's allegations surfaced.