Stock Market Live Updates August 12, 2024: Markets extend losses in morning session; Sensex down 188 points
Sensex, Nifty, Share Prices LIVE: Equity markets and specifically Adani group stocks opened in the red following a fresh report by Hindenburg Research alleging conflict of interest on the part of SEBI chairperson Madhabi Puri Buch. At 10.20 am Sensex was down 188 points (0.24%). Adani Enterprises, Adani Ports, Adani Power, and other group shares lost as much as 5-6 per cent from the previous close during the morning session.
While Buch and SEBI dismissed the allegations by Hindenburg Research, the hedge fund issued a fresh statement asking Buch to disclose details of all the clients that were serviced by the offshore funds owned by her husband.
“SEBI Chairperson Madhabi Buch’s response to our report includes several important admissions and raises numerous new critical questions,” the firm said in a statement on X.
Pushing back against the Buchs’ claims of no wrongdoing, Hindenburg alleged that their response to its report essentially confirms that they invested in an obscure Bermuda/ Mauritius fund structure alongside money allegedly siphoned by Vinod Adani, the brother of Gautam Adani.
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