1312: Marketbuzz Podcast with Kanishka Sarkar: Hindenburg report, Adani stocks in focus amid positive global cues

Welcome to CNBC-TV18’s Marketbuzz Podcast. Here are all top developments from around the world ahead of the trading session of August 12

-A new report released over the weekend by Hindenburg Research will be in focus today. The US-based short-seller has alleged that market regulator Securities and Exchange Board of India's (SEBI) reluctance to act against the Adani Group might be linked to its chief Madhabi Puri Buch, having stakes in offshore funds associated with the conglomerate. In response, Buch has labelled the claims as "baseless" and characterised them as an attempt at "character assassination."

-This yet again puts the Adani Group companies in the spotlight for Monday's trading session. Shares of most group companies have already recovered all the losses they made after the first Hindenburg report in January 2023. The Adani Group has also responded by saying that their overseas holding structure is fully transparent and that the Group has no commercial relationship with individuals or matters mentioned in the report.

-The Nifty 50 heads into a truncated week after what has been an extremely volatile week gone by. With the turn of events over the weekend, the upcoming holiday-shortened week also promises to be nothing less. It was a relatively steady end to the week last Friday with the Nifty closing above the 24,350 mark. Although it could not prevent a second-straight weekly loss, it managed to claw back most of that on Friday with a 250-point surge.

-Barring the Adani Group companies, REITs will also be in focus as Hindenburg's new report also claims that SEBI's regulations on REITs benefitted Blackstone, which is the sponsor of three out of the four Indian listed REITS. Blackstone is also where the SEBI Chairperson's husband Dhaval Buch was a senior advisor. The report alleged the SEBI chief promoted REITs as an investment product to benefit Blackstone.

-PSU stocks will be in focus as well. Bharat Dynamics joined the list of PSU earnings disappointing the street after RVNL, IRCON and even BHEL. Cochin Shipyard has turned out to be the only outlier so far.

-The handover from Wall Street has been largely positive with the benchmark indices ending Friday's session with moderate gains. This morning, shares in Asia opened higher as markets shifted focus to key US data prints this week for further insight into the health of the world’s biggest economy.

-However, it is likely that the focus on Monday for the Indian markets will be the Hindenburg report which may cloud an on-the-mend sentiment for equities instead of global cues, which have been the focal point all through last week.

Tune in to the Marketbuzz Podcast for more cues