Adani Group stocks, including Adani Ports, Adani Enterprises, and Adani Green, faced significant losses ranging from 5% to 10% on Wednesday. The flagship Adani Enterprises shares extended their decline for the seventh straight session.
Adani Green Energy shares were the most affected, plunging more than 13%, marking the largest loss among Adani Group stocks. Adani Total Gas shares declined over 8%, while Adani Wilmar’s share price fell over 4%. ACC and Ambuja Cements shares also traded with losses of more than 4% each.
With this downturn, the total cumulative market capitalization of Adani Group stocks dropped by Rs 90,000 crore. However, this figure represents 5.7% of the group’s overall market cap, which stood at nearly ₹15.85 lakh crore as of the previous market closing on Tuesday.
Simultaneously, the broader Indian stock market indices also experienced a decline of 1% on Wednesday, with midcap and smallcap indices witnessing the most significant losses.
At 2:00 pm, the Sensex dropped 744.88 points (1.01%) to trade at 72,923.08, while the Nifty 50 was down 279 points (1.25%) at 22,056.70.
The broader market indices reported a third consecutive day of decline, with the Nifty Smallcap 100 and the Nifty Midcap 100 falling by 3%-4%.