Nine Adani Group Stocks End Lower; Snaps 2-Day Winning Streak

New Delhi: Nine out of ten listed companies of the Adani group closed with losses on Monday, snapping two-day of gains amid an across-the-board sell-off in the broader market. While some Adani stocks hit their lowest circuit prices, flagship Adani Enterprises Ltd declined 3.84 percent to close at Rs 1,805.10 on BSE. The flagship commanded a market capitalisation of Rs 2.05 lakh crore.

The stock was the second biggest loser among Nifty stocks, dropping by 3.44 percent. Adani Total Gas plunged 4.99 percent to end at Rs 853.10, Adani Power tumbled 4.83 percent to close at Rs 190.30 and Adani Transmission went lower by 1.49 percent to settle at Rs 1,009.60 per share. (Also Read: Personal Loan: From SBI To HDFC, These Banks Offering Lowest Interest Rate -- Check Out Full List, And EMI Calculator Here)

The three stocks hit their lower price bands on the exchange before recovering some ground. Shares of Ambuja Cements nosedived 3.37 percent to close at Rs 365.50, Adani Wilmar fell 3.16 percent to end at Rs 413.85, NDTV dived 3.11 percent to settle at Rs 199.30 and ACC declined 1.84 percent to end at Rs 1,697.05 on the BSE. (Also Read: Non-Twitter Blue Users Now Have Last Chance To...)

Also, shares of Adani Ports and Special Economic Zone (APSEZ) fell 1.96 percent to end at Rs 666.75 apiece on the bourse. However, Adani Green Energy climbed 3.91 percent to settle at Rs 848.75 per share. The company's market valuation rose to Rs 1.34 lakh crore.

The BSE Sensex benchmark plunged 360.95 points or 0.62 percent to settle at 57,628.95 points. The broader NSE Nifty fell 111.65 points or 0.65 percent to close at 16,988.40.

On Friday, seven Adani group companies had settled higher. Last week, NSE and BSE announced that two Adani group stocks -- Adani Green Energy and NDTV -- will be moved to the first stage of the long-term additional surveillance measures (ASM) framework from Monday.

The move also comes close on the heels of the two exchanges excluding Adani Enterprises, Adani Power, and Adani Wilmar under the short-term ASM.

After taking a beating on the bourses, following the report by US-based short seller Hindenburg Research, many of the group stocks have recovered some lost ground.

However, amid sluggish broader market trends, the group's stocks have declined in the last few trading sessions.

The report had made a litany of allegations, including fraudulent transactions and share-price manipulation, against it. The group has dismissed the charges as lies, saying it complies with all laws and disclosure requirements.