The Nifty IT index closed 1.08 per cent down at 29742.35.

The Nifty Bank index closed 0.77 per cent down at 41256.75.

Investors got poorer by Rs 1.97 lakh crore on Thursday as market capitalisation of all listed companies declined to Rs 264.27 lakh crore. The rupee strengthened against the dollar. But RBI's likely intervention capped further spike and brought the local unit closer to 82 per dollar.

The RBI has launched a special examination of the banking system's exposures to Adani Group entities, and Governor Shaktikanta Das has said that a single case cannot impact the broader banking system.

Sandip Sabharwal says that the markets are consolidating and that there are still opportunities to buy in certain sectors. He advises caution in the technology and chemicals spaces, as well as in the infrastructure, construction, and capital goods spaces. He also recommends buying stocks in the metal space, which is bucking the trend. Sabharwal says that the larger banks have an advantage over the smaller ones in a tightening liquidity and rising interest rate environment.

The RBI considers this buffer during forex interventions, Citi economists said, adding that comfort on the buffer front could mean the RBI will be relatively open to allowing some rupee appreciation

With the latest pledge, the total shares in Adani Green Energy Ltd - the group's renewable energy company - that were encumbered with SBICap was 2 per cent. In the case of Adani Transmission, this came to 1.32 per cent

The oil and natural gas giant has paid an equity dividend of Rs 14 per share in the last 12 months amounting to a dividend yield of 8.92% if we consider the current share price levels.