Lagatar24 Desk
Mumbai: Indian equity markets witnessed a sharp sell-off on Friday, turning the session into a “Black Friday” for investors as benchmark indices fell nearly one percent, wiping out an estimated ₹6 lakh crore of investor wealth.
Heavy Losses Across Benchmarks and Broader Markets
After Thursday’s rally, the Sensex and Nifty reversed course on Friday. The Sensex plunged 770 points to close at 81,537, while the Nifty dropped 241 points to settle at 25,048. Bank Nifty declined by around 700 points, while midcap and smallcap indices suffered deeper losses, falling more than 1.5 percent. The BSE market capitalization shrank from ₹458.50 lakh crore to ₹452.52 lakh crore in a single session.
Adani Stocks Drag Market Lower
Out of the 30 Sensex stocks, 24 ended in the red. Shares of Adani Ports, Zomato, IndiGo, and Bajaj Finance were among the biggest losers. Adani Group stocks were particularly battered, with Adani Green Energy plunging nearly 14 percent. Adani Enterprises, Adani Power, Adani Energy Solutions, Adani Total Gas, and Adani Green Energy fell by up to 12 percent.
US Regulatory Action Triggers Sell-Off
The sharp fall in Adani stocks followed news that a US commission has sought permission from American market regulators to issue summons via email to founder Gautam Adani and executive Sagar Adani over alleged fraud and a $265 million bribery scheme. The development spooked investors, triggering heavy selling across Adani group counters.
Many Stocks Hit 52-Week Lows
Market breadth remained weak, with 328 stocks touching their 52-week lows. These included Adani Entertainment, Afcons Infrastructure, Akzo Nobel India, Adani Total, Bata India, and Blue Jet Healthcare. Meanwhile, 69 stocks managed to hit their one-year highs despite the broader market weakness.
