Market Mayhem: Adani Group Impact

Investors lost Rs 5.27 lakh crore as Adani group stocks fell sharply, triggered by bribery charges against Gautam Adani. The Sensex dropped 422.59 points, eroding the market value by Rs 5,27,767.57 crore. Global tensions and renewed FII selling also pressured financial markets.

The financial market took a significant hit as investors suffered losses amounting to Rs 5.27 lakh crore. This downturn was predominantly due to a steep decline in Adani group stocks following bribery charges against Gautam Adani.

The Sensex index fell by 422.59 points, leading to a reduction in overall market value by Rs 5,27,767.57 crore. The selling pressure was exacerbated by global geopolitical tensions and a brief resurgence of selling by Foreign Institutional Investors.

While the services, utilities, commodities, oil & gas, power, and auto sectors experienced declines, sectors like healthcare, IT, and realty managed to post gains, partially offsetting the day's overall losses.

(With inputs from agencies.)