Reuters
BENGALURU (Reuters) -Indian shares ended more than 1% lower to hit a three-month low on Friday as a short-seller attack on Adani Group companies triggered a selloff in its shares and of the banks, wiping off a combined $48 billion in the conglomerate's market value over two days. The Nifty 50 index was down 1.61% at 17,604.35 at close, while the S&P BSE Sensex fell 1.45% to 59,330.90, trimming some losses in the last few minutes of trading after having hit over 2% lower earlier in the session. The sell-off in equities was triggered by U.S. short-seller Hindenburg Research's report on Wednesday that flagged concerns about the Adani Group's debt levels and use of tax havens.