Adani Enterprises, Adani Ports, SBI, ICICI Bank and IndusInd Bank were among the biggest losers on the Nifty, while gainers were Tata Motors, Bajaj Auto, Dr Reddy’s Laboratories, ITC and Divis Laboratories.
Blood bath continued on Dalal Street for the second consecutive session, as benchmark indices lost 1.5 percent on January 27 amid selling in most sectors, barring pharma and auto, with Adani group stocks again coming under pressure.
At close, the Sensex was down 874.16 points or 1.45 percent, at 59,330.90, and the Nifty was down 287.70 points, or 1.61 percent, at 17,604.30. For the week, the benchmarks lost more than 2 percent.
The market started on a negative note and extended the selling as the day progressed, with the Sensex and the Nifty breaking 59,000 and 17,500, intraday. Some last-hour buying helped them reduce losses.
The market plunged as Adani group stocks were battered yet again in the aftermath of a report by short-sellers Hindenburg Research that flagged debut concerns and alleged stock manipulation, charges which have been denied by the company.