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
 "Stock Market Highlights, Aug 12: Sensex, Nifty end amid Hindenburg-led volatility; Ola zooms 20%")
Stock Market Highlights today, Monday, August 12: After starting on the backfoot on Monday amid the Hindenburg-Sebi row, Indian benchmarks - BSE Sensex and NSE Nifty - pared initial losses to end Monday's choppy session on a flat note.
Sensex shed 56.99 points or 0.07 per cent to settle at 79,648.92. Earlier, the index fell 0.60 per cent to an intra-day low of 79,226.13. Meanwhile, Nifty50 dipped 20.50 points or 0.09 per cent to 24,345.55. The index fell 0.63 per cent to an intra-day low of 24,212.10.
30 out of the 50 constituent stocks of Nifty50 ended lower, with Adani Ports, NTPC, Dr. Reddy's Labs, Britannia, and Adani Enterprises being the top laggards, falling by up to 2.33 per cent.
On the BSE, 18 out of the 30 listed stocks of the Sensex ended in the red, with Adani Ports, NTPC, and Power Grid being the top laggards, with a fall of up to 2.02 per cent. The fear index, India VIX, ended higher by 3.47 per cent at 15.87 points.
Among the broader indices, Smallcap and Midcap settled with marginal gains. Meanwhile, among the sectors, Media, PSU Bank, Auto, FMCG, Pharma, and Healthcare indices ended lower, while others settled in the green.
Adani-Hindenburg-Sebi case
Markets kicked off this week lower amid recent allegations by US-based short-seller Hindenburg Research, claiming links between Sebi Chairperson Madhabi Puri Buch, her husband, and an offshore fund tied to the Adani Group. In response, Sebi and Buch have issued separate statements refuting Hindenburg Research's allegations as baseless.
Adani Goup shares today
Shares of the Adani Group fell sharply following the Hindenburg Research allegations during the early trade on Monday. Adani Energy Solutions, Adani Total Gas, Adani Enterprises, New Delhi Television (NDTV), Adani Power, Adani Ports and Special Economic Zone, Adani Wilmar, ACC, and Ambuja Cement fell by up to 17 per cent.
However, Adani Group's shares showed a strong recovery, with Ambuja Cement shares settling with gains of 0.55 per cent, while others ended lower by up to 4.14 per cent.
However, Adani Group's shares showed a strong recovery, with Ambuja Cement shares settling with gains of 0.55 per cent, while others ended lower by up to 4.14 per cent.
3:51 PM
Tech View :: Key levels to watch on Nifty, Sensex
Technically, after early morning intraday selloff, the market took the support near 24,200/79,200 and bounced back sharply.
However, it failed to close above 24,400/79,850 resistance zone.
However, it failed to close above 24,400/79,850 resistance zone.
The current intraday market texture is non-directional; hence, a level-based trading would be the ideal strategy for the day traders.
For the bulls, 24,400/79,850 would be the immediate breakout zone. Above the same, market could move up to 24,500-24,550/80,100-80,400.
On the flip side, the sentiment could change below 24,300/79,500. Below the same, the market could retest the level of 24,200-24,170/79,200-79,000.
Views by: Shrikant Chouhan, Head Equity Research, Kotak Securities
For the bulls, 24,400/79,850 would be the immediate breakout zone. Above the same, market could move up to 24,500-24,550/80,100-80,400.
On the flip side, the sentiment could change below 24,300/79,500. Below the same, the market could retest the level of 24,200-24,170/79,200-79,000.
Views by: Shrikant Chouhan, Head Equity Research, Kotak Securities
3:43 PM
Comment :: 'Optimism eclipsed by Hindenburg concerns; all eyes on CPI inflation now'
The Indian market concluded relatively flat, with its initial path being eclipsed by continuation of the Adani-Hindenburg-SEBI saga. However, the market tried to brush away these noises, taking positive cues from global markets. Moreover, the domestic market is anticipating ease in CPI inflation, which is going to be further supported by a good monsoon. Yet, the upside risk remains, given firm oil prices and volatility in food inflation.
Views by: Vinod Nair, Head of Research, Geojit Financial Services.
Views by: Vinod Nair, Head of Research, Geojit Financial Services.
3:40 PM
Rupee Closing :: Rupee slips 2 paise vs US dollar
3:39 PM
Broader markets :: Mid, SmallCap indices end higher on Monday, Smallcaps lead
3:38 PM
Sectoral trends :: Indices end mixed; VIX rises over 3%
3:36 PM
Sensex Heatmap :: 13 of 30 index stocks manage to end higher
3:34 PM
Stock Market Closing Bell :: Nifty ends below 24,350
3:33 PM
Stock Market Closing Bell :: Sensex trims most of the day's losses, ends flat
3:28 PM
FirstCry IPO listing price prediction: GMP hints 18% gain on debut; Details
If the FirstCry IPO GMP trend sustains at this level, the company's shares are likely to list at a premium of over 18 per cent on the bourses. Taking into account the latest GMP, shares of FirstCry may list around Rs 551 (GMP + Issue Price) on the BSE and NSE. READ MORE
3:19 PM
Ola, SMS Life, IWEL, GMR Power, Suzlon and 356 others hit upper circuit
Among individual stocks, Ola Electric Mobility, the newly listed company, was locked in the 20 per cent upper circuit at Rs 109.41 for the second straight day. With this 2-day rally, Ola Electric Mobility now trades at a 44 per cent premium against its issue price of Rs 76 per share. The company made its stock market debut on Friday, August 9. READ MORE
3:06 PM
Dr Reddy's Labs shares drop after US FDA gives VIA tag to Vizag facilities
Shares of Dr Reddy’s Laboratories slipped up to 2 per cent at Rs 6,875.05 per share on the BSE in Monday’s intraday trade. This came after the United States Food and Drug Administration (USFDA) issued an establishment inspection report (EIR) to the company, for its manufacturing facilities (FTO-7 and FTO-9) in Duvvada, Visakhapatnam, Andhra Pradesh. READ MORE
2:55 PM
ALERT:: RateGain Q1 net soars 82%; stock slips 2%
RateGain Travel Technologies in an exchange filing today said the company posted 82.2 per cent YoY growth in Q1FY25 net profit to 45.38 crore as against Rs 24.91 crore in Q1FY24. Total revenue increased by 26.2 per cent to Rs 278.28 crore from Rs 220.46 crore.
2:44 PM
Sun TV Network tanks 10% on weak Q1 earnings; analysts divided on outlook
The shares fell amid heavy volumes after Sun TV reported a weak performance in the June 2024 quarter (Q1FY25), with revenue down 3.2 per cent year-on-year (Y-o-Y) at Rs 1,276 crore. READ MORE
2:34 PM
Unicommerce eSolutions IPO GMP hints listing gains; Check expected price
Shares of Unicommerce eSolutions are commanding a strong grey market premium (GMP) ahead of their listing, scheduled for tomorrow, August 13. The public issue was subscribed 168.35 times on the final day of subscription. READ MORE
2:25 PM
Morepen Labs stock soars 6% on strong Q1 show; medical device biz grows 20%
For the first quarter of FY25, the company reported net revenue of Rs 458.64 crore, marking a 14 per cent increase, year-on-year (Y-o-Y) from Rs 403.46 crore in Q1FY24. READ MORE
Topics : SEBI MARKET WRAP MARKET LIVE Market news Indian stock markets stock markets S&P BSE Sensex Nifty50 Adani Group Global Markets stock market trading Stock market investment
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First Published: Aug 12 2024 | 7:48 AM IST
