Key Takeaways
- The stock market remained calm despite the Hindenburg report, with the BSE Sensex up 209 points and Nifty 50 up 50 points at noon.
- SEBI Chairperson has dismissed the fresh charges by Hindenburg Research, saying that SEBI has adequate internal mechanisms for addressing issues relating to conflict of interest.
- The Adani group has also dismissed the fresh charges by Hindenburg Research.
New Delhi: Investors seem to have taken SEBI’s advise seriously as no major movement either side was witnessed on Monday morning as the stock market opened lower from previous close but soon recovered as the BSE Sensex was up over 200 points and Nifty 50 points at noon 1200 hours.
All major shares were trading in range bound manner except shares of Adani group shares which were in the red since morning.
BSE Sensex is 209 points up at 79,904 while Nifty was at 24,412 up 50 points during intra-day.
Anticipating a negative reaction in the stock market, SEBI issued a statement urging investors to remain calm and exercise due diligence. The statement was issued after Hindenburg Research issued a fresh report targeting SEBI Chairperson.
Both SEBI Chairperson and Adani group have dismissed fresh charges by Hindenburg Research and even SEBI also issued a statement in favour of its Chairperson saying “It is emphasised that SEBI has adequate internal mechanisms for addressing issues relating to conflict of interest, which include disclosure framework and provision for recusal. It is noted that relevant disclosures equired in terms of holdings of securities and their transfers have been made by the Chairperson from time to time.
