The new report of American short seller firm Hindenburg does not seem to have much impact on the stock market. On Monday, the first trading day of the week, both the market indices Sensex-Nifty opened on the red mark of huge decline, but within some time they started appearing in recovery mode. This can be gauged from the fact that Bombay Stock Exchange’s 30-share Sensex had opened with a slip of 375 points, but by 11.15, it was trading 266 points higher after reaching the green zone.
Sensex rises by 170 points
First of all, let us talk about BSE Sensex, let us tell you that this index of BSE had closed at the level of 79,705.91 on Friday and on Monday it started with a decline at the level of 79,330.12. It was expected that the impact of the report of American short seller firm Hindenburg released on Saturday would be visible on Sensex and Nifty, so this was also visible in the early trading. But the effect of Hindenburg did not last long and by 11.15 in the morning the market came into recovery mood. Till the time of writing the news, Sensex was trading at the level of 79,972.42 with a rise of 266.52 points. Earlier, Sensex had once again crossed the 80,000 mark and touched the day’s high level of 80,106.18 during trading.
Nifty also reached the green mark
Like Sensex, NSE’s Nifty index also started trading at 24,320.05, breaking its previous closing level of 24,367.50 and after trading at the red mark for some time, NIFTY 50 also jumped and reached the green mark. Till the time of writing the news, Nifty was trading at the level of 24,430.00 with a gain of 62.50 points.
What is the condition of Adani Group shares?
Sensex and Nifty recovered from the fall and gained strong momentum, while the initial decline seen in the shares of Adani Group companies led by Indian billionaire Gautam Adani seemed to be braking. After falling more than 5 percent in early trade, Adani Enterprises shares were trading at Rs 3,147.55, down just 1.25 percent at 11.15 am. Other than this…
Adani Power Share (-2.05%)
Adani Total Gas Ltd (-4.35%)
Adani Wilmar (-2.56%)
Adani Green Energy (-1.14%)
Adani Energy Solutions (-3.21%)
Adani Port Share (-1.32%)
ACC Ltd Share (-1.46%)
Ambuja Cement Share (+0.51%)
NDTV Share (-2.32%)
Experts were already expressing hope
Market experts were already hoping that Hindenburg’s report would not have a long-term impact on the stock market. Referring to the reason behind this, he had said that the new Hindenburg report on SEBI merely tries to spread the illusion that an offshore fund means that some criminal activity has taken place. He said that his own earlier claims on the alleged beneficiary Adani Group have been clumsily repeated without any evidence, which have also been rejected by the Supreme Court.
SEBI Chief- Impact of Adani Group’s statements!
Apart from this, SEBI Chief Madhabi Puri Buch, in a quick comment on Hindenburg’s allegations, had said that it is unfortunate that Hindenburg Research, against which SEBI has taken enforcement action and issued a show cause notice, has now responded to the same by criticizing our character. An attempt has been made to violate. Apart from this, the statement issued by Adani Group has also affected the sentiments of investors.
The Gautam Adani-led group had said in the statement that the allegations made in the new report are malicious and presented by manipulation of facts. We completely reject all these allegations made by Hindenburg against the group, which are just recycling claims meant to defame us. On behalf of Adani Group, it has been said that all these allegations made earlier have been thoroughly investigated, which have proved to be completely baseless. These have already been rejected by the Supreme Court in January 2024.
(Note- Before making any investment in the stock market, definitely take advice from your market experts.)