Hindenburg report fails to dent mkt, Adani stocks fall

CONTRARY to expectations that the latest report of US short-seller Hindenburg Research, which has questioned the conduct of the Sebi chairperson while inspecting the Adani Group for manipulating stock prices would have a wider impact on the Indian equity market, the bulls of Dalal Street sidelined the concerns as the benchmark indices closed on Monday with just minor cuts.

- ARSHAD KHAN

At close, BSE Sensex was down 56.99 points or 0.07% at 79,648.92, and NSE Nifty fell 20.5 points or 0.08% to settle at 24,347. In the broader market, the mid and smallcap index showed resistance and closed in green.

"The market exhibited a mild optimism, though the initial path was eclipsed by the continuation of Adani-Hindenburg-SEBI saga. However, the market brushed away these noises, taking positive cues from global markets," said Vinod Nair, head of research at Geojit Financial Services.