12 Aug 2024 | 10:45:17 AM IST
Synopsis
Sensex Today | Stock Market Live 12 August 2024: Sensex and Nifty traded lower on Monday, with shares of the Adani group dropping after U.S. short-seller Hindenburg Research accused the head of the country’s market regulator of having investments in offshore funds linked to the Adani group.
Sensex Today | Stock Market Highlights 12 August 2024:
- Hindenburg asks SEBI chairperson to come clean on clients dealt by her consulting firms
- Voltas reports two-fold rise in Q1 profit; stock up 7%
- Adani Group stocks tank up to 7%
- Sensex falls 400 pts, Nifty below 24,300 at open
Market View by Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global as well as domestic factors are likely to influence the market this week. Globally stock markets will be keenly watching the US consumer data and the core CPI numbers which will indicate the strength/ weakness of the US economy. Stability in yen indicates that the fears surrounding the yen carry trade are behind us.
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The explanation is very-very satisfying. Sebi chairperson was an accomplished profession before she became the chairperson and her husband also is accomplished professional, worked with MNC. They invested into their fund which is managed by childhood friend and there is nothing wrong in investing fund.
– Vikas Khemani, Founder, Carnelian Asset Management on Sebi-Hindenburg row
Stock Market LIVE Updates | Hindenburg hits out at Madhabi Buch, again: Short-seller says Sebi chief’s response raises ‘new critical questions’
On Sunday, Hindenburg Research addressed SEBI chief Madhabi Puri Buch’s weekend statement, which accused the short-seller of attempting a “character assassination” of the Buchs.
In a post on its X account, Hindenburg claimed that Buch’s response “raises numerous new critical questions” and “includes several important admissions.”
Stock Market LIVE Updates | Hindenburg asks SEBI chairperson to come clean on clients dealt by her consulting firms
SEBI chairperson Madhabi Puri Buch has publicly acknowledged her investment in a little-known Bermuda/Mauritius fund structure, according to U.S. short-seller Hindenburg Research. The firm has called on Buch to disclose all consulting clients of her offshore Singaporean and Indian consulting firms.
Following a statement from Buch and her husband denouncing Hindenburg’s latest claims as an attack on SEBI’s credibility and a “character assassination,” Hindenburg responded with a series of posts on X, highlighting significant admissions in their response and raising several new critical questions.
Stock Market LIVE Updates | India bond yields drift ahead of inflation data
At the start of the week, Indian government bond yields remained relatively steady, with key domestic and U.S. inflation data on the horizon expected to influence market direction.
The benchmark 10-year yield stood at 6.8726% as of 10:00 a.m. IST on Monday, compared to its previous close of 6.8812%.
Stock Market LIVE Updates: Shadowfax eyes Rs 3,000-crore IPO
Flipkart-backed Shadowfax Technologies plans to raise Rs 2,500-3,000 crore through an initial public offering (IPO), according to sources. The company is seeking a valuation of Rs 5,000-8,000 crore and has begun talks with merchant bankers. In February, Shadowfax raised $50 million in a Series E round, valuing it at Rs 3,000 crore ($355 million). To date, it has raised about $230 million. (Source: ET Bureau)
Stock Market LIVE Updates | Rs 53,000 crore loss! Adani stocks fall up to 7% as investors play safe after Hindenburg resurfaces
Amid allegations against Sebi chief Madhabi Buch in the Adani vs Hindenburg dispute, many investors opted for caution, leading to a drop of up to 7% in Adani Group shares this morning. Consequently, investors saw a loss of approximately Rs 53,000 crore, with the total market capitalization of 10 Adani stocks falling to Rs 16.7 lakh crore.
Stock Market LIVE Updates | DEA secretary on Hindenburg report: Have nothing to add to SEBI’s comment
Rupee trades in narrow range against US dollar in early trade
On Monday, the rupee traded within a narrow range against the US dollar in early deals, with market participants holding back in anticipation of important domestic economic data. Forex traders noted that the 84.00 level for the USD/INR pair is serving as a key psychological barrier.
Investors are also waiting for insights from the Indian CPI inflation and IIP figures set to be announced later in the day.
Stock Market LIVE Updates | Voltas Q1 Results: Co reports two-fold rise in profit on higher demand for air conditioners; stock surges 7%
On Monday, India’s Voltas reported a more than two-fold increase in its first-quarter profit, driven by higher sales of air conditioners and coolers due to record heatwaves across the country.
The company’s consolidated net profit surged to 3.34 billion rupees (around $40 million), up from 1.29 billion rupees the previous year.
Price as on 09.51.05 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Earnings Watch
IRFC, Vodafone Idea, NMDC, Hudco, SJVN, Voltas to announce Q1 earnings today
Price as on 09.24.06 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Adani Power, NBCC among top movers in moring trade
Price as on 09.22.35 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Adani Group stocks in Focus; stocks fall up to 7%
A short-seller from the US has claimed that Madhabi Puri Buch, the head of Sebi, and her husband Dhaval Buch held interests in offshore funds based in Bermuda and Mauritius. These funds were reportedly used by Vinod Adani, Gautam Adani’s brother, to acquire and trade significant shares in the Adani Group.
Price as on 09.39.30 AM, Click on company names for their live prices.
Sensex Today | Stock Market LIVE Updates | Opening Bell
Sensex falls 400 pts, Nifty below 24,300; Adani Group stocks drop up to 4%
Sensex Today | Stock Market LIVE Updates: Pre-open session: Sensex slips over 400 points; Nifty below 24,330
Momentum is missing and VIX was seen swinging making directional trades difficult. Nifty did have a triangular consolidation at the bottom, seen as early signs of reversal, but is yet to shake off the bears, as evidenced by the lack of follow through momentum on Friday despite a peek above 24400. This was surprising, but could be attributed to the near 400 point gapped up opening on Friday, leaving little fuel left to propel further upsides on the last working day of the week. It is fair to say that the trend is evenly poised. Nifty now needs a push above the 20 day SMA now at 24420, to aim for 24540 initially and embark on a 25800 trajectory, but such prospects will not be brought into consideration today if unable to float above 24360. Downside marker is now at 23975, which is where both the Bollinger band extremity and 50 day SMA has converged. An attack on this region will expose the 23670 and the low 23000s, but prospects of the same appear low, given low momentum
– Anand James, Chief Market Strategist, Geojit Financial Services
Global as well as domestic factors are likely to influence the market this week. Globally stock markets will be keenly watching the US consumer data and the core CPI numbers which will indicate the strength/ weakness of the US economy. The stability in yen indicates that the fears surrounding the yen carry trade are behind us. Therefore, the likely trends in the US macros and the Fed rate cut expectations are likely to influence markets much more than any other factors.Domestically, there is the Hindenburg report and its likely fallout. It appears that this “revelation” is unlikely to impact the market meaningfully. The buy-on-dips strategy which has been working well in this bull run is likely to work again.
– Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services
Sensex Today | Stock Market LIVE Updates: F&O Radar| Deploy Bull Call Spread in Nifty, Apollo Hospitals for potential gains
After a volatile week, the index and stocks showed signs of recovery in Friday’s session, leading analysts to anticipate potential upward movement. Here are two options strategies recommended by analysts to capitalize on the expected rise in both the Nifty and Apollo Hospitals
Sensex Today | Stock Market LIVE Updates: Positive Breakout: These 4 stocks close cross above their 200 DMA
In the Nifty500 index, four stocks closed above their 200-day moving averages (DMA) on August 9, according to technical scan data from StockEdge.com. The 200-day DMA is a key indicator used by traders to assess the overall trend of a stock. When a stock trades above this moving average, it is typically viewed as being in an uptrend.
Sensex Today | Stock Market LIVE Updates: Bandhan Bank, GRSC among 16 stocks to trade ex-dividend on Tuesday. Last date to buy today
Bandhan Bank, The Great Eastern Shipping Company (GRSC), and Navneet Education, along with five other companies, are expected to be in the spotlight today. These companies have set August 13 as the record date to determine shareholders eligible for dividend payments.
Sensex Today | Stock Market LIVE Updates: F&O Ban List: PNB, Birlasoft among 15 stocks under trade ban on Monday
Fifteen stocks are under the F&O trade ban, including Aditya Birla Capital, Aditya Birla Fashion & Retail (ABFRL), Bandhan Bank, Biocon, Birlasoft, Gujarat Narmada Valley Fertilizers and Chemicals (GNFC), Granules India, Hindustan Copper, India Cements, Indiamart Intermesh, LIC Housing Finance, Manappuram Finance, Punjab National Bank (PNB), RBL Bank, and Steel Authority of India (SAIL).
Sensex Today | Stock Market LIVE Updates: Q1 results today: IRFC, Vodafone Idea among 528 companies to announce earnings on Monday
As the first quarter earnings season nears its end, 528 companies are set to release their quarterly results on Monday. Key reports to watch include those from IRFC, Vodafone Idea, NMDC, Hudco, SJVN, and Voltas.
Sensex Today | Stock Market LIVE Updates: Asian shares enjoy the calm before inflation test
Asian stocks started the week on a quiet note on Monday, with Japan’s holiday reducing one source of recent volatility. Investors are now focused on upcoming U.S. and Chinese economic data for insights into global growth prospects.
Sensex Today | Stock Market LIVE Updates: Yen slips, markets brace for US inflation data
Trading volumes were lighter due to a Japanese holiday, and the yen weakened slightly against the dollar. Market participants remained uncertain about the likelihood of a significant Federal Reserve rate cut next month.
This pause comes after a turbulent week marked by a sharp selloff in currencies and stock markets, fueled by concerns about the U.S. economy and the Bank of Japan’s hawkish stance.
Sensex Today | Stock Market LIVE Updates: Oil holds on to last week’s gains buoyed by Mideast tensions, economic data
Oil prices were mostly stable in early Asian trading on Monday, retaining much of last week’s gains of over 3%, bolstered by geopolitical tensions and positive economic data.
By 0021 GMT, Brent crude futures had dipped 7 cents, or 0.09%, to $79.59 per barrel, while U.S. West Texas Intermediate crude futures edged up 2 cents, or 0.03%, to $76.86.
Sensex Today | Stock Market LIVE Updates: Gold prices steady with spotlight on US inflation data
Gold prices remained steady on Monday as investors waited for key U.S. inflation data set to be released later this week. This data will help determine the potential size of the Federal Reserve’s anticipated interest rate cut next month.
Sensex Today | Stock Market LIVE Updates: Stock Radar: IndusInd Bank stock down over 20% from highs; time to go short in this private bank?
IndusInd Bank, a prominent player in the private banking sector, has fallen more than 20% from its January 2024 highs. Current chart patterns suggest that this downward trend could continue. Experts recommend that short-term traders consider selling the stock, with a target price of Rs 1300-1280 over the next 3-4 weeks.
Sensex Today | Stock Market LIVE Updates: Stocks in news: IRFC, Vodafone Idea, Adani Enterprises, Honasa Consumer, Siemens, Jubilant FoodWorks
In today’s trading session, shares of IRFC, Vodafone Idea, Adani Enterprises, Honasa Consumer, Siemens, and Jubilant FoodWorks, among others, will be closely watched due to recent news developments and first-quarter results.
Sensex Today | Stock Market LIVE Updates: Quarterly earnings today
IRFC, Vodafone Idea, HUDCO, Happiest Minds and a slew of other companies will announce their first quarter results today.
Sensex Today | Stock Market LIVE Updates: Market Trading Guide: Bajaj Auto, NBCC among 6 stock recommendations
The domestic equity indices ended higher on Friday, recovering some of the losses from earlier in the week, with IT stocks leading the rebound. The S&P BSE Sensex rose by 1.04% to close at 79,705.9, while the NSE Nifty50 index finished above the 24,350 mark.
Six stocks to buy include Sandhar Tech, Imagicaa, Affle India, Bajaj Auto, Supriya Lifescience and NBCC.
Sensex Today | Stock Market LIVE Updates: Ahead of Market: 10 things that will decide stock action on Monday
Domestic blue-chip equity indices Sensex and Nifty both climbed over 1%, driven by gains in IT stocks. This rally was bolstered by a larger-than-expected drop in U.S. unemployment claims, which alleviated recession concerns in the world’s largest economy.
The NSE Nifty 50 index increased by 1.04% to 24,367, while the S&P BSE Sensex rose 1.04% to 79,705.9.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty (Earlier SGX Nifty) signals a muted start
GIFT Nifty on the NSE IX traded lower by 13.5 points, or 0.04 per cent, at 24,370.50, signaling that Dalal Street was headed for muted start on Monday.
Sensex Today | Stock Market LIVE Updates: Rupee rises 2 paise to close at 83.95 against US dollar
The rupee remained stable within a narrow range and ended the day 2 paise higher at 83.95 against the US dollar, bolstered by positive performance in domestic markets.
Forex traders noted that the rupee saw a modest increase due to gains in domestic markets. However, a rise in crude oil prices limited the extent of the rupee’s gains.
Sensex Today | Stock Market LIVE Updates: US stock market: S&P 500 ends up, but near flat for week
The S&P 500 rose on Friday and remained steady for the week after recovering from recession-induced losses. Gains were led by the tech sector, including Take-Two Interactive and Expedia. Investors are now eyeing economic indicators and the next Federal Reserve meeting for potential rate cuts in September.
Sensex Today | Stock Market LIVE Updates: Tech View: Nifty ends week with Hammer candle
The Nifty ended the session with a gain of 250.50 points, though it remained below the 24,400 level, forming a Hammer candlestick pattern on the weekly chart.
Daily charts show that the Nifty has corrected from 25,100 to 23,900 and is currently retracing that decline. It could potentially rally towards the 24,520 to 24,651 range, where the 50% and 61.8% Fibonacci retracement levels of the previous drop are located.
Sensex Today | Stock Market LIVE Updates: Sensex, Nifty on Friday
The BSE Sensex rose by 820 points, or 1.04%, closing at 79,706. Meanwhile, the NSE Nifty increased by 251 points, or 1.04%, to finish at 24,368.
