Adani Group stocks are witnessing sharp fluctuations in Friday’s trading session after initially extending losses from Thursday’s fall.

Shares of Adani Enterprises, which opened 7% lower on Friday after a 23% drop on Thursday, saw a sharp recovery from the lows of the day and is currently trading with losses of just 0.5%.

However, it must be noted that Adani Enterprises is in the F&O ban, which means no new positions can be created in the stock, however, existing positions can be dealt with.

A stock is placed in the F&O ban where the total open interest of contracts in the futures and options segment goes beyond 95% of the exchange-defined Market Wide Position Limit.

Adani Group Stocks	Falls As Much As	Recovery From Lows
Adani Enterprises	-7%	6%
Adani Ports	-6%	4%
Adani Green Energy	-11%	5%
Adani Energy Solutions	-9%	3
Adani Power	-7%	5%

Adani Group stocks lost ₹2.3 lakh crore in market capitalisation on Thursday.

Post market closing, the Kenyan government cancelled $2.6 billion worth of potential contracts, which involved the management of the Nairobi Airport and also building high-voltage power transmission lines.

Earlier this morning, ratings agency S&P also cut its outlook on Adani Ports, Adani Electricity and a unit of Adani Green Energy post the US indictment of Gautam Adani and other executives of the group.

S&P wrote in its note that that the negative outlook and the recent turn of events may restrict funding access for the group companies.