Stocks and bonds of India's Adani Group dropped for a second session on Friday after a U.S. arrest warrant was issued for its billionaire founder Gautam Adani over an alleged $265 million bribery scheme.

Adani Enterprises, the flagship company of the group, saw its shares drop by more than four percent in morning trading, with similar losses recorded in its ports and power subsidiaries.

India’s benchmark equity gauge posted its biggest gain since early June, boosted by lenders and market heavyweight Reliance Industries.

(Reuters) -Indian shares opened higher on Friday, led by rebound in financials after a sharp drop on Thursday, while most Adani group stocks continued their decline after a $27 billion drop in market value in the previous session.

Bonds issued by the Adani Group dropped sharply for a second day on Friday, although some of its shares stabilised after steep losses the previous day following news of the warrant. Some global banks are considering temporarily halting fresh credit to the Adani Group but maintaining existing loans after the U.

India's Adani Group bonds were under pressure for a second session Friday following billionaire founder Gautam Adani's indictment for fraud by U.S. prosecutors and arrest warrants issued for him over an alleged $265 million bribery scheme.