Markets

Adani Group shares fall 7% amid across the borad selloff

NEW DELHI: Shares of Adani group of companies took a severe beating in the morning trade on Monday amid an across-the-board selloff.

Shares of Adani Power (down 6.58 per cent) and Adani Enterprises (down 6.54 per cent) were the worst hit, cracking nearly 7 per cent.

Adani Gas (down 4.90 per cent), Adani Transmission (down 4.69 per cent), Adani Green Energy (down 4.40 per cent) and Adani Ports (down 3.25 per cent) also lost significantly.

Domestic equities suffer deep cuts in opening deals on Monday following the trend in global markets where investors took money off the table amid worries of a slowdown in economy and concerns that the tension between the US and China may derail the prospects of a trade deal.

Around 9:40 am, the BSE Sensex was 565 points down at 35,107, while the Nifty was 176 points down at 10,517.

All stocks in the Sensex kitty were in the red, with Reliance Industries, Coal India, Power Grid, Asian Paints and ONGC as the top losers.

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