Indian stocks began another week on a weak note as stocks across sectors witnessed a mild sell off right from the opening bell, especially the Adani Group stocks, after US-based short seller Hinderberg made serious allegations against SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch.

However, the market did not react strongly to these allegations. SEBI and the Adani Group quickly responded, dismissing the claims as baseless. This contrasts sharply with the market’s response to Hindenburg’s initial allegations against the Adani Group in January 2023, which led to a significant loss of USD 150 billion in market value across the conglomerate’s 10 listed entities at their lowest point.

In today’s trading, Adani stocks are experiencing mild losses of 3% to 5%. This response suggests that investors have largely digested Hindenburg’s latest report, which was released over the weekend.