Stock Market Highlights, Aug 12: Sensex, Nifty end flat amid Hindenburg-led volatility; Ola up 20%

Stock Markets Highlights, Aug 12, 2024: Shares of the Adani Group fell sharply following the Hindenburg Research allegations early trade on Monday. However, Adani Group's shares showed recovery later

SI Reporter New Delhi

Stock Market Highlights, Aug 12: Sensex, Nifty end amid Hindenburg-led volatility; Ola zooms 20%

8:29 AM

Buch issues fresh details, says Blackstone on her 'recusal list' with Sebi

They stated that the couple had “accrued their savings through their salaries, bonuses, and stock options” collected over their corporate careers spanning decades. While the Sebi chair has worked with financial services firms for over two decades, her husband was associated with Hindustan Unilever and parent Unilever for over 35 years. READ MORE

8:26 AM

Sebi says only one probe remains in Adani-Hindenburg Research matter

Sebi disclosed that only one investigation remains, which is nearing completion. "The Supreme Court in its order of January 3, 2024, noted that Sebi had completed 22 of 24 investigations into the Adani group. Subsequently, one more investigation was completed in March 2024, and one remaining investigation is close to completion,” it said. READ MORE

8:22 AM

Sebi, Chairperson Madhabi Puri Buch rebut Hindenburg Research charges

Besides raising eyebrows over the use of a foreign fund structure, the US short-seller also accused the Indian securities regulator of promoting real estate investment trusts (REIT) due to Dhaval Buch’s association with private equity major Blackstone, a large investor in the domestic realty space. READ MORE

8:19 AM

Nifty Outlook: Expect momentum after range breakout

Although prices attempted several rebounds during the rest of the week, they largely remained under pressure. However, on Friday, there was a noticeable improvement in global cues, allowing the market to close on a positive note. Despite this late recovery, the market ended the week down by 1.43 per cent, finishing just above the 24,350 level mark. READ MORE

8:15 AM

Stock buy ideas for August 12: Jigar S Patel of Anand Rathi recommends these stocks

Nykaa:

Nykaa after a brief period of consolidation around its 21- and 50-day Exponential Moving Averages (DEMA), has successfully surpassed its previous high of approximately Rs 184. This consolidation phase indicates the formation of a robust base, setting the stage for further upward movement. READ MORE

8:12 AM

Nifty50's sentiment remains bullish; buy the dips? Here's what analysts say

Nifty50
Until such a breakout occurs, the most effective trading strategy is to buy near the support levels and book profits near the resistance levels. Given the overall bullish trend in the short term, it is not advisable to short-sell at resistance levels. Instead, traders should focus on buying on dips or near the identified support levels. READ MORE

8:09 AM

Buy & Sell Ideas for Aug 12; top two picks by Rajesh Bhosale of Angel One

MCX
This MCX stock has regularly outperformed the market, forming a 'Higher Top, Higher Bottom' price pattern. It shows minimal reaction during broader market corrections but outperforms when the market trends upward. READ MORE

8:06 AM

Sebi's Buch in Hindenburg's firing line: How will markets react on Monday?

The Sebi show cause notice, Hindenburg Research said, claimed that their report was “reckless” for quoting a banned broker with specific experience dealing with SEBI who detailed how the regulator was fully aware that firms like Adani used complex offshore entities to flout rules, and that the regulator participated in the schemes. READ MORE

8:02 AM

Hindenburg vs Sebi, Adani stocks, global markets: Guide for Nifty on Aug 12

Over the weekend, the US-based short-seller Hindenburg Research alleged that Securities and Exchange Board of India (Sebi) chairperson Madhabi Buch and her husband Dhaval Buch, had stake in obscure offshore entities used in the alleged Adani money siphoning scandal. READ MORE

7:59 AM

China's bond market rattled as central bank squares off with bond bulls

>> China's bond market, the world's second largest, is on edge following a turbulent week in which the central bank started intervening heavily to stem a plunge in yields even as the economy is struggling.

>> But die-hard investors say the bull market in government bonds still has legs, citing China's wobbly economy, deflationary pressures and low investor appetite for riskier assets. Even those who have turned bearish appear half-hearted.

>> China's central bank has repeatedly warned of potentially destabilising bubble risks as investors chase government bonds and scurry away from volatile stocks and a sinking property market, while banks cut deposit rates. Falling yields also complicate the People's Bank of China's (PBOC) efforts to stabilise the weakening yuan.

Source: Reuters

7:57 AM