Sensex, Nifty settle marginally lower in volatile trade amid Hindenburg-SEBI-Adani row

From 30 Sensex firms, Adani Ports, NTPC, Power Grid, State Bank of India, Nestle, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the biggest laggards.

Stock markets closed marginally lower in a highly volatile trade on Monday (August 12, 2024) as investors turned cautious about the potential disruptions from the U.S. short-seller Hindenburg Research report on SEBI chairperson and her husband's undisclosed investments in obscure offshore funds in Bermuda and Mauritius.

Recovering from early lows, the 30-share Sensex closed lower by 56.99 points or 0.07% to settle at 79,648.92. The index had declined by 479.78 points or 0.60% to a low of 79,226.13 in morning trade. The benchmark later staged a sharp recovery climbing 400.27 points or 0.50% to 80,106.18. But at the fag-end, the BSE benchmark slipped into the negative territory to close lower.

Also read | Hindenburg allegations: Adani group stocks tumble

The NSE Nifty dipped 20.50 points or 0.08% to 24,347. Intra-day, it hit a low of 24,212.10 and a high of 24,472.80.

"The Indian market concluded relatively flat, with its initial path being eclipsed by the continuation of the Adani-Hindenburg-SEBI saga. However, the market tried to brush away these noises, taking positive cues from global markets," said Vinod Nair, Head of Research, Geojit Financial Services.

From 30 Sensex firms, Adani Ports, NTPC, Power Grid, State Bank of India, Nestle, Mahindra & Mahindra, Reliance Industries and Tata Consultancy Services were the biggest laggards.

Axis Bank, Infosys, JSW Steel, Tata Motors, HDFC Bank and Kotak Mahindra Bank were among the gainers from the blue-chip pack.