Indian shares fall as financials slide; Adani stocks tumble

BENGALURU :Indian shares opened lower on Friday as financials sustained the slide on risk aversion due to Hindenburg's report on the books of Adani group companies, which offset easing concerns of recession in the U.S.

The Nifty financial index, which fell 2.13 per cent in the previous session, has lost 2.25 per cent as of 10:15 a.m. IST, dragging the markets down, while oil & gas stocks declined over 3.5 per cent with an uptick in crude prices.Stocks of seven Adani companies tumbled between 2 per cent and 17 per cent after falling between 1.5 per cent and 9 per cent on Wednesday when Hindenburg, a well-known U.S.

The slide in financials and oil stocks overshadowed the positive macro data from the United States. The world's largest economy grew faster than expected in the fourth quarter as consumers boosted spending on goods, data showed.

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Who is behind Hindenburg, the company that is shorting Adani?NEW YORK: Short-seller Hindenburg Research disclosed on Wednesday (Jan 25) short positions in India's Adani Group, citing potential stock manipulation and accounting fraud in a report. T
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