Indian shares reverse gains, weighed down by Adani stocks
** NSE Nifty 50 .NSEI and BSE Sensex .BSESN drop 0.3% each, reversing early gains, pressured by fall in Adani stocks
** Benchmarks rose 0.5% each in first hour before swinging to losses
** All Adani group stocks fall; Adani Enterprises ADEL.NS and Adani Ports APSE.NS shed 3.5% and 3%, respectively, topping Nifty 50 laggards
** Adani Green ADNA.NS sheds 6.5%, Adani Energy ADAI.NS loses 3.7%; both cos - which are at the centre of U.S. indictment charges on founder Gautam Adani - down 36% and 31% over 4 sessions since the news broke
** Drop in Adani stocks after TotalEnergies TTEF.PA halted investments in group and Fitch put some of the conglomerate's bonds on watch for possible downgrade
** With updates coming from TotalEnergies and Fitch on the group, caution is likely to prevail in markets, while Adani stocks may see further pressure, analysts say
** Adani's 10 listed companies have so far lost $34.5 billion in market value since U.S. indictment
** Group has denied allegations, calling them "baseless"
** Food delivery platform Swiggy SWIG.NS rises 3.4% after UBS initiates with "buy"
Reporting by Bharath Rajeswaran in Bengaluru
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