business

Live: Hindenburg allegations against SEBI chief to hit sentiment? Adani shares in focus|Opening Bell

Indian equity market closed one percent higher after a gap-up opening on Friday but failed to sustain above the short-term moving averages (10 and 21-day EMA), which coincides with the 24,400 mark. This is a crucial level to watch for further upside towards 24,700, the upper end of the bearish gap created on August 5. If the index fails to close and sustain above 24,400, consolidation may continue with support at the 24,100-24,000 zone, according to experts. The Nifty 50 finished the week 1.4 percent down at 24,368. This morning GIFT Nifty is hinting at a mildly negative start. Investors will be watching out for any reaction to the Hindenburg allegations against SEBI chief Madhabi Puri Buch and her husband saying that they had stakes in offshore funds used by the Adani group. Among stocks in focus, watch out for Adani Group stocks, Jubilant Foodworks, Honasa, Bharat Dynamics and Mazagon Dock. Catch Nandita Khemka in conversation with Kunal Rambhia—Fund Manager, The Streets.

first published: Aug 12, 2024 09:10 am