Stock Market crash: Sensex falls over 1,000 points, shares of many companies of Adani Group crash up to 20%
The Indian stock market is seeing a huge decline on the fifth and last trading day of the week, i.e. Friday (January 27). Sensex is trading at 59,250 level after falling more than 900 points.
At the same time, the Nifty has fallen by 300 points to 17,575. This is the decline in the market for the second consecutive trading day. Out of 30 Sensex stocks, 27 are decline.
Adani Group shares fall by nearly 20%
Adani Group's shares are the biggest decline. Adani Transmission 20.00%, Adani Ports 17.28%, Adani Wilmar 5.00%, Adani Power 19.33%, Adani Total Gas 20.00%, Adani Green Energy 19.79% and Adani Enterprises 9.13%. Ambuja Cement 19.99%, ACC 14.85% and NDTV 4.99% are the recently acquired companies by Adani Group.
SBI and Axis Bank shares
Nifty 50 Adani Ports, Adani Enterprises, SBI, Axis Bank, BPCL, ICICI Bank and ONGC are also witnessing a decline in 38 stocks. On the other hand, 11 stocks of Nifty 50 including Bajaj Auto, Tata Motors, Dr Reddy, ITC, Cipla, HDFC Life, UPL are showing a boom.
PUS Bank sector declined the most by 5.78%
Out of all 11 sectoral indices of NSE, 8 are witnessing a decline. The PSU bank sector declined the most by 5.78%. Apart from this, there is a decline of 4% in metal, 3% in Bank and more than 2-2% in financial services, private bank and realty sector. There is also a decline in the auto, IT and media sectors. On the other hand, there is a slight increase in the Pharma and FMCG sector.