New Delhi: Stock market opened in red on Monday with BSE Sensex falling 375.79 points to 79,330.12 and the Nifty dropping 108.25 points to 24,259.25 in early trade.
Stock markets did not post any knee-jerk reaction post the release of the latest Hindenburg report though Adani Group stocks dropped up to 7 percent.
Expert had commented that the Adani group stocks including Adani Enterprises Ltd and Adani Power Ltd will be keenly watched on Monday as the market opens following Hindenburg’s latest report (published Saturday 10 August 2023), alleging Sebi Chairperson and her husband in the company’s ‘Obscure Offshore Funds’.
All the ten Adani group stocks slumped in early trade on Monday, with Adani Energy tumbling 17 percent. Adani Energy Solutions plummeted 17 percent, Adani Total Gas dropped 13.39 percent, Adani Power tanked 10.94 percent, Adani Green Energy declined 6.96 percent, Adani Wilmar fell 6.49 percent, Adani Enterprises tumbled 5.43 percent, Adani Ports dived 4.95 percent, Ambuja Cements skidded 2.53 percent and ACC dipped 2.42 percent, and NDTV plunged 11 percent.
Foreign Institutional Investors (FIIs) turned buyers on Friday after days of offloading equities. They bought equities worth Rs 406.72 crore, according to exchange data.