Market Wrap: Adani Group stocks drag Sensex down 422 points, Nifty to 23,350; BSE Mcap erodes by Rs 6.7 lakh crore

Indian headline index fell sharply in the day's trade on Thursday while recovering some losses towards the end. Weighed down by a sell-off in Adani Group stocks following an indictment of Chairman Gautam Adani and several others in a $250 million bribery case, the S&P BSE Sensex closed at 77,155.79, down by 422.59 points or 0.54% while the broader Nifty50 finished at 23,349.90, lower by 168.60 points or 0.72%.