Sensex, Nifty crash as Adani Group stocks hit lower circuit
What's the story
Sensex has slipped 1,023.24 points to 59,181.82 while Nifty is down 336.25 points to 17,555.7, triggered by a massive sell-off of Adani Group stocks, which have hit lower circuit amid accusations of market manipulation by Hindenburg Research.
The midcap stocks showed bearish signals with Nifty Midcap 50 dropping 2.67% to 8,380.6 points.
Since Hindenburg's report, Adani Group stocks have lost $42.6bn in market capitalization.
Round-up
Adani Ports and Adani Enterprises lead the negative pack
Among the winning sectors in the stock market are NIFTY PHARMA and NIFTY FMCG, which rose 0.37% and 0.1%, respectively.
Bajaj Auto, Tata Motors, and Dr Reddy's Labs are currently the top-performing stocks, edging up 6.06%, 5.3%, and 2.94%, respectively.
Adani Ports, Adani Enterprises, and SBI lead the negative pack, plummeting 20%, 15%, and 5.05%, respectively.
Twitter Post
Hindenburg challenges Adani Group to file law suit in US
Our response to Adani: pic.twitter.com/6NcFKR8gEL
— Hindenburg Research (@HindenburgRes) January 26, 2023
Commodities
INR is up by 0.093% against the US Dollar
The Indian Rupee (INR) is 0.03% up at Rs. 81.58 against the US Dollar in the forex trade.
While the gold futures prices are down Rs. 244, or 0.43%, to Rs. 56,718, silver futures is trading flat at Rs. 68,700.
The crude oil futures are up by $1.27, or 1.59% to $81.36 per barrel.
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Take a glance at the global markets
In Asia, both Shanghai Composite Index and Nikkei are trading in red, slipping to 3,264.81 points and 27,382.56 points, respectively. The Hang Seng Index is up by 0.25% at 22,624.02 points. In the US, NASDAQ is in the green, rising 199.06 points to 11,512.41 points.
Crypto
How have popular cryptocurrencies fared today?
Bitcoin is selling at $22,985.12, down 0.34% from yesterday. Ethereum is down 1.81% and is currently trading at $1,581.13.
Tether, BNB, and Cardano are priced at $1.00 (0.01% up), $304.72 (0.84% down), and $0.378 (0.22% down), respectively.
Down 1.12% from yesterday, Dogecoin is trading at $0.08554.
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Fuel prices in Delhi and Mumbai remain the same
The fuel prices remain unaffected on Friday. In Delhi, diesel is retailing at Rs. 89.66 per liter and petrol continues to sell at Rs. 96.76 per liter. In Mumbai, diesel costs Rs. 94.25 per liter, and petrol is priced at Rs. 106.29 per liter.