Know why the stock market fell, Sensex slipped 400 points

The domestic stock market started trading with a decline on Monday after Hindenburg Research directly accused the SEBI chief in the Adani case. Major Indian benchmarks were seen trading with a decline during this period. While Adani Group shares fell by 7%.

At 9:18 am, the Sensex was seen trading 294 points or 0.37% down at 79,411. On the other hand, the Nifty was seen trading at 24,282, down 85 points or 0.35%.

US shortseller Hindenburg Research has accused SEBI chief Madhabi Puri Buch and her husband Dhawal Buch of investing in offshore funds that were used to boost Adani Group shares. However, the Buch couple has denied the allegations and said that all investment information has been disclosed as per the rules.

Among Nifty stocks, Adani Enterprises and Adani Ports were the top losers on Monday with a decline of 4% during early trade. NTPC, Power Grid and Tata Steel shares also opened in the red. On the other hand, Grasim, ONGC, Asian Paints, Britannia and HDFC Bank shares were seen trading in the green.