Sensex & Nifty Start In Red As Hindenburg Clouds Shroud The Markets

Amid the ongoing storm incepted by the new Hindenburg Revelations, the Indian markets started business on Monday, August 12, in red, on a negative note.

The Indian markets opened red at the beginning of the new trading week, with Sensex at 79,458.12, down by 247.79 points, and Nifty at 24,284.85, down by 82.65 points.

Nifty Bank in the morning session was trading low at 50,289.85 and was down by 194.65 points.

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From the Sensex pack, JSW Steel, Asian Paints and Tata Motors were among the major gainers in the morning session, whereas NTPC, Power Grid and Adani Ports were among the laggards.

From the Nifty tranche, Grasim, Cipla Tata Motors were among the gainers, while Adani Enterprises, Tata Consumer Products and SBI Life were among the losers.

Here, the Adani stocks in particular appear to have been hit by the cloud of Hindenburg, as most of their stocks are trading in red.

The Indian rupee opened at 83.96 against the dollar.

U.S. West Texas Intermediate crude (WTI) increased by 0.34 per cent to USD 77.10 a barrel at 09:48 IST. Brent crude prices also increased by 0.19 per cent to USD 79.81 a barrel at 07:38 IST. | File

Energy and International Markets

U.S. West Texas Intermediate crude (WTI) increased by 0.34 per cent to USD 77.10 a barrel at 09:48 IST. Brent crude prices also increased by 0.19 per cent to USD 79.81 a barrel at 07:38 IST.

On Friday, both the S&P 500 and Nasdaq saw a collective jump in their numbers, meanwhile, Dow Jones Industrial Average also saw a rise in its value.

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The S&P 500 closed at 5,344.16, gaining 0.47 per cent. The Dow Jones Industrial Average ended at 39,497.54, gaining 0.13 per cent.

Additionally, the Nasdaq Composite saw a jump of 0.51 per cent to reach 16,745.30.

The Asian indices started in Green, while Japan's Nikkei 225 index gained 0.56 per cent to reach 35,025.00, at the opening of the day's trade. Hong Kong’s Hang Seng index rose by 0.050 per cent, climbing to 17,098.70 points. South Korea’s KOSPI observed a rise, as it increased by 1.02 per cent to reach 2,614.91.