The Indian stock market has seen a major plunge today, with the benchmark Nifty 50 index dropping to a 3-month low. The Adani Group, one of India’s largest conglomerates, has been the major contributor to this decline, with its stocks plunging and extending their rout from a Hindenburg Research report.

The Sensex, India’s main stock index, dropped by over 1100 points, with the Nifty 50 index falling below 17,650. The Adani Group stocks were particularly hit hard, with the Adani Enterprises, Adani Power, and Adani Transmission stocks all falling by over 10%.

The Indian stock market has been under pressure due to growing concerns over the US recession, with investors fearing that the Indian economy could be affected by the US downturn. This has been compounded by the Hindenburg Research report on the Adani Group, which has added to the selling pressure on the Adani stocks.

The Adani Group carnage has dragged the Indian stock market to its lowest levels in over three months. The Nifty 50 index has dropped by over 5% in the last two days, and the Adani Group stocks have been the major contributors to the decline.

The Indian government has urged investors to remain calm and not panic, and has said that the Indian economy is still on track for a strong recovery. However, the Adani Group rout has caused a great deal of concern in the markets, and it remains to be seen how the Indian stock market will recover from this major plunge.