India's equity benchmarks open lower; Adani stocks decline

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India's equity benchmarks opened lower on Tuesday, weighed by Adani group stocks after Wall Street Journal reported that the U.S. is probing alleged imports of Iranian LPG via the group's Mundra port.The Nifty 50 NSE:NIFTY dipped 0.23% to 24,660.7, while the BSE Sensex BSE:SENSEX fell 0.28% to 81,143.46 as of 9:23 a.m. IST.Both the benchmarks rose about 0.4% each in the early minutes of trade before reversing gains.Most Adani group stocks fell on the day, with the Nifty 50 constituents Adani Enterprises NSE:ADANIENT and Adani Ports NSE:ADANIPORTS losing 2.5% each. Adani group has denied "any deliberate engagement" in sanctions evasion or trade involving Iranian-origin liquefied petroleum gas, and said, "We are not aware of any investigation by U.S. authorities on this subject."Seven of 13 sectors opened higher, though gains were modest. Small-cap NSE:CNXSMALLCAP and mid-cap indexes NSE:CNXMIDCAP outperformed, rising 0.5% and 0.2%, respectively, reflecting underlying domestic resilience despite headline pressure.($1 = 85.4170 Indian rupees)

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