Latest Stock Market News

The crypto market has had a bearish but sensational start to August, with Bitcoin hovering around $57,000 and altcoins experiencing significant declines. The recent market correction, triggered by macroeconomic and inflation-related fears, has presented an opportunity for investors to accumulate promising crypto assets at attractive prices.

The Adani vs Hindenburg saga continued as Hindenburg accused Sebi chief Madhabi Puri Buch and her husband of having stakes in offshore entities linked to Adani. This came after Sebi issued a notice to Hindenburg for market regulation violations. Both Buch and Adani denied the allegations, with Adani regaining its market position.

The Adani Group issued a statement rejecting new claims involving Sebi chief Madhabi Puri Buch and her husband in the Hindenburg case. The group denied any commercial relationship with them and described the allegations as baseless, manipulative, and recycled. The Supreme Court had previously dismissed similar allegations in January 2024.

While there are no fresh allegations against the Adani Group, the shares of which recouped losses made in the aftermath of the Hindenburg crisis, the new report may impact investor sentiments.

Analyst Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas interacted with ET Markets regarding the outlook on Nifty and Bank Nifty along with an index strategy for the upcoming week. Following are the edited excerpts from his chat:

The market valuation of Infosys dived Rs 20,973.19 crore to Rs 7,35,277.28 crore and that of Tata Consultancy Services (TCS) tumbled Rs 19,157.77 crore to Rs 15,30,469.11 crore.

"The current SEBI Chairperson and her husband, Dhaval Buch, had hidden stakes in the exact same obscure offshore Bermuda and Mauritius funds, found in the same complex nested structure, used by Vinod Adani," Hindenburg said in a report."​​

Sebi introduced a 7-step strategy to improve the index derivatives market, emphasizing retail investor protection and market stability. Highlights included mandatory upfront option premium collection and intraday position tracking. Some measures, like rationalized strike prices and higher expiry day margins, received criticism for possible market disruption. The proposals sought to curtail retail investor losses.