The Indian stock market is set for another turbulent session today as fresh allegations from US short-seller Hindenburg Research target SEBI chief Madhabi Puri Buch and her husband Dhaval Buch.
The accusations, coupled with ongoing global concerns about a potential US recession, have market experts predicting heightened volatility.
In particular, stocks within the Adani Group are expected to be closely watched. Adani Enterprises Ltd, Adani Power, Adani Green Energy Ltd, and Adani Energy Solutions Ltd are among the ten Adani Group stocks likely to experience significant movement.
Additionally, shares of 360 ONE WAM Ltd and listed REITs are expected to be in focus, as Hindenburg claimed SEBI had proposed and implemented extensive REIT legislation.
Despite the anticipated market jitters, analysts suggest that any impact may be short-lived. Vinit Bolinjkar of Ventura Securities remarked, "Hindenburg is recycling old allegations. They are attempting to link disparate events without providing evidence of criminality. It’s old wine in a new bottle, desperate and recycled."
Deepak Shenoy of Capitalmind commented on X said, "This feels like an exaggeration. They’ve veered into sensationalism with little substance."
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, downplayed the long-term effects, stating, "Most of the claims are already known to the market.
These reports have been circulating for some time. Beyond a potential knee-jerk reaction lasting a day or two, I doubt the fresh report will significantly harm the Adani group’s earnings potential in the medium to long term."
Investors and traders are advised to brace for a potentially bumpy ride, though experts maintain that any disruptions are likely to be brief.
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