Indian shares ended lower for a second consecutive session on Friday, as a spate of rate hikes from policymakers in England, Norway and Switzerland pushed up global bond yields and spurred risk aversion.
The rupee traded weak, but oil prices pulled back sharply on demand worries – offering some respite.
The benchmark S&P/BSE Sensex dropped 259.52 points, or 0.41 percent, to 62,979.37 while the broader NSE Nifty index settled down 105.75 points, or 0.56 percent, at 18,665.50.
Adani Group stocks were among the worst hit after the Bloomberg reported that U.S. authorities are looking into what representations the group made to its American investors in the wake of the Hindenburg Research’s report.
Adani Enterprises plunged more than 7 percent and Adani Ports tumbled 4.4 percent.
Among other prominent decliners, Divis Laboratories, Hindalco and BPCL fell 2-3 percent.
Among the top gainers, NTPC, Bharti Airtel, Asian Paints, Dr Reddy’s Laboratories and IndusInd Bank rallied 1-3 percent.
Sensex, Nifty Extend Loses As Global Growth Worries Weigh
2023-06-23 10:25:59
