Indian shares fell in a volatile session on Monday, mirroring the financials ahead of the Union budget as Adani Group extended a decline after a short-seller attack on group companies triggered a sell-off over the previous two sessions.
"The markets will remain very volatile ahead of the budget," Aishvarya Dadheech, director and fund manager at Ambit Asset Management said. Analysts also cited fears of a drawdown in financials on the back of a scathing report by Hindenburg Research that raised concerns about the books of Adani companies.reversed a climb. The other group stocks corrected further for the third consecutive session.
rose nearly 5% to a four-month high of 6,040 rupees after its third-quarter earnings beat estimates, while Sun Pharma hovered near an eight-year high ahead of third-quarter results.83.72 billion rupees worth of shares over the last two sessions since Hindenburg's report.
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