Stock market defies Hindenburg report: Sensex gains, Nifty above 24,400
About 1715 shares advanced, 1737 shares declined, and 106 shares unchanged.
Sensex gained 200 points or 0.24 per cent to reach 79,900.98 while Nifty was up 48.40 points or 0.20 per cent at 24,415.90. About 1715 shares advanced, 1737 shares declined, and 106 shares unchanged. JSW Steel, Hero MotoCorp, Infosys, Axis Bank and HDFC Bank are among top gainers on Nifty while losers are Apollo Hospitals, Adani Ports, Adani Enterprises, NTPC and Power Grid Corp. Among sector, IT, metal and realty up 0.5 per cent each, while power, media, PSU Bank down 0.5-1 per cent.
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Adani shares lose
All the ten Adani group stocks fell in early trade with Adani Energy tumbling 17 per cent, Adani Energy Solutions down 17 per cent, Adani Total Gas losing 13.39 per cent and Adani Power dropping 10.94 per cent on the BSE. Stocks of Adani Green Energy declined 6.96 per cent, Adani Wilmar slumped 6.49 per cent, Adani Enterprises tumbled 5.43 per cent, Adani Ports dived 4.95 per cent, Ambuja Cements skidded 2.53 per cent and ACC dipped 2.42 per cent.
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Hindenburg allegations against Adani and Sebi chief
US short-seller Hindenburg Research alleged that SEBI chief Madhabi Puri Buch and her husband had undisclosed investments in obscure offshore funds in Bermuda and Mauritius. These entities were allegedly used by Vinod Adani to round-trip funds and inflate stock prices, the report alleged.
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Madhabi Puri Buch and her husband issued a statement calling Hindenburg's report as an attack on the credibility of SEBI and attempted "character assassination".