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The conglomerate, hit by allegations around corporate misgovernance, said it has decided to put on hold the major equipment procurement and site construction activities for the project as the financial closure is pending with various institutions.

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On the other hand, since the release of the Hindenburg report on January 25 Adani Group stocks have lost around 52% of their combined market value. In less than two months, Adani stocks have lost around Rs 10 lakh crore of its market value.

Tracking weak global sentiments amid continuing global banking crisis, Indian indices in Monday’s trade ended lower.

Investors with large equity or mutual fund portfolios can pay low or no tax or set-off their losses by tax harvesting or tax-loss harvesting.

The markets have been adjusting to a normal world versus how the market used to be earlier in terms of looking at extremely low interest rates as a base case forever. This has hit global demand as well as the growth outlook for Indian companies. In the last two to three quarters, earnings have been fairly muted in India. Today, we are in midst of bad news which in a way is now starting to give attractive prices for Indian equities.

Now, it has to cross and hold above 17,071 zones to witness a bounce towards 17,171 and 17,250 zones, while on the downside supports are seen at 16,850 and 16,800 levels, said Chandan Taparia of Motilal Oswal.

In the last six months foreign investors have rushed to book profits via secondary share sales.

The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes.

At the interbank foreign exchange, the domestic unit opened stronger at 82.48 against the dollar. During intra-day, it went as high as 82.45 and hit the lowest level of 82.71. It finally settled at 82.63 (provisional) against the American currency, registering a fall of 4 paise against its previous close.