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BENGALURU: Indian shares declined on Friday, tracking a slide in global equities on fears that monetary policy tightening would slow down economic growth, and as the latest chapter in the Adani Group saga soured sentiment further.

The Nifty 50 index closed 0.21% lower at 17,856.50, while the S&P BSE Sensex fell 0.20% to 60,682.70.

Five of the 13 major sectoral indexes declined, with information technology and metal falling 0.4% and 1.8%, respectively.

Richmond Fed President Thomas Barkin added to the growing list of hawkish comments from Federal Reserve officials, sparking a slide in Asian stocks.

The commentary from Fed officials over the last two days indicates that the high-rates regime could likely last till the end of 2023 or even early 2024, said Narendra Solanki, head of equity research at Anand Rathi Shares & Stock Brokers.

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SAMIR SARDANA Feb 13, 2023 07:17pm
NOW THE STOCKS ARE DOOMED THE CASH STOCKS OF ADANI,WILL BE ON LOWER CIRCUITS,FOR A LONG TIME - AS THERE IS IHUGE QUANTITY TO SELL,AND THERE IS NO ONE,TO WAREHOUSE THE STOCKS AEL IS THE HOLDING COMPANY,AND SO, THAT WILL ALSO CRASH FOR "NEW PROJECTS",GOVTTS WILL HAVE TO ASSESS THE CAPACITY,FOR FUNDING BY ADANI,AND WILL RESTRICT THE CONTRACTS,TO REDUCE CONCENTRATION RISK THERE IS NOW A CONCENTRATION RISK,FOR THE GOVTT AND BANKS - W.R.T. THE ADANI GROUP AND SO, BANKS WILL HAVE TO REVIEW OPERATIONS,OF ADANI AND THE SECURITY OFFERED,BY ADANI NOW IF PROJECTS GET STALLED,OR SOME FORCE MAJEURE OR COURT STAY COMES UP - IT WILL BE DISASTER FOR ADANI ONLY I CAN SAVE ADANI ! SAMIR SARDANA
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