SENSEX slides over 550 pts; NIFTY50 hovers around 23,320; Adani Group stocks sink, IT stocks gain

At 9:53 AM, the S&P BSE SENSEX was trading at 76,955.60 levels, down 623 points, or 0.80%. The broader NIFTY50 index was trading at 23,305.05, down 213 points, or 0.91%.

On the other hand, IT stocks were trading with gains. The BSE Information Technology index was trading at 41,638.03 levels, up 0.59%. 

Foreign institutional investors (FIIs) offloaded equities worth ₹3,411.73 crore on Tuesday, according to exchange data.

Broader Market

The BSE MidCap index was trading at 44,313.48 levels, down 317 points, or 0.71%. The BSE SmallCap index was trading 402 points, or 0.77% lower at 52,088.88 points.

Global Markets

Asian equities fell on Thursday after AI darling Nvidia disappointed investors with a subdued revenue forecast, while the dollar firmed and bitcoin hit a record high in anticipation of U.S. President-elect Donald Trump's proposed policies.

Prevailing geopolitical concerns following the escalating conflict in Ukraine earlier this week led safe-haven assets higher, including gold and government bonds.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.23%, with tech-heavy Taiwan stocks down 0.5%. Japan's Nikkei fell 0.7%.