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Hindenburg Report Fails To Dent Mkt, Adani Stocks Fall
The Morning Standard
|August 13, 2024
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.
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.
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