Sensex, Nifty Give Up Early Gains; PSU And Adani Group Stocks Worst Hit

Indian shares slipped into the red on Wednesday after opening on a strong note earlier as CPI data both in India and the U.S. matched expectations.

The benchmark S&P BSE Sensex dropped 78 points, or 0.1 percent, to 73,589 while the broader NSE Nifty index was down 55 points, or 0.2 percent, at 22,281.

PSU stocks traded sharply lower, with Power Grid Corp and NTPC falling 3-4 percent.

Adani Group stocks also faced selling pressure, with Adani Enterprises and Adani Ports both falling around 3 percent.

ITC soared 6 percent after huge quantity of shares changed hands in a block deal.

Jet Airways jumped 5 percent after the National Company Law Appellate Tribunal (NCLAT) upheld the transfer of ownership of the grounded airline to Jalan Kalrock Consortium (JKC).

Likhitha Infra rallied 3.6 percent on winning an order worth Rs 106 crore from HPCL.
Shalby edged up slightly after it decided to make a strategic investment in Healers Hospital.

Ethos lost 5 percent after the company reduced its stake in Silvercity Brands AG to 35 percent from 100 percent.