Indian stocks started with a decline at the beginning of the week

After rising in the previous 2 sessions, BSE SENSEX fell 394 points (0.5%) in Monday morning trading to 79,312 as traders showed a cautious stance in response to the latest Hindenburg Report and ahead of India's July inflation data to be released today.

Over the weekend, the US company Hindenburg reported suspicions that the country's top market regulator was involved in offshore funds used by the Adani Group.

All 10 listed companies in the Adani Group, such as Adani Enterprises (-5.2%), Adani Ports (-3.6%), and Adani Wilmer (-3.2%), fell 2% to 8%.

Traders are currently paying attention to US-July inflation and China's economic indicators (industrial production, retail sales, etc.) to be announced this week in order to determine global growth prospects.

According to a Reuters poll, India's July inflation rate is 3.65%, which is expected to be the lowest level since 2019/8.

Entering the backstage, Sensex recovered 430 pt from the previous day's low, and Nifty recovered 120 pt

By sector, media, metals, and PSU Bank each fell 1%. Nifty's main rising stocks are Grasim Industries, Asian Paints, Cipla, Tech Mahindra, Britannia, etc., while falling stocks include Adani Enterprises, NTPC, Adani Ports, Power Grid, and Bajaj Auto.