Come Monday, a few of the familiar names might go missing from the electronic as well as print media. Some brokerages plan to refrain from media interaction until there is more clarity on Sebi's new Research Analyst regulations. This is following confusion created by a release issued by the market regulator on Friday stating the new regulations come into effect from December 1.
However, brokerages may not have to panic yet. "Even though regulations have come into effect, the registration deadline is March 1," said a Sebi official. Brokerages say, they are also working to comply with other related regulations, and hence are a bit cautious.
PSUs show the way
It is not always that public sector undertakings (PSUs) lead by example. However, when it comes to accepting Securities and Exchange Board of India (Sebi)'s new corporate governance norms, the PSUs are showing more zeal, Sebi Chairman U K Sinha hinted.
"Even if the new governance norms are impacting PSUs the most, they (government) are showing more willingness and support," he said at a recent corporate governance event. It also shows the Sebi had not forgotten the comments by some corporate bigwigs that the securities market regulator is acting like a dragon.
Jayshree P Upadhyay
Flat Nifty, fat rally
The National Stock Exchange's Benchmark Nifty closing unchanged after a day of trade is a rare occurence - this has happened only five times in India's stock market history. On the Past two occasions, when Nifty closed unchanged, the market has rallied more than 40 per cent.
That was back in 2002 and 2005. The latest instance of Nifty closing absolutely flat was on May 14, when it ended at 7,109, unchanged from the previous closing figure. Since May, the index has rallied 21 per cent. Looks like the Nifty is on course for another 40 per cent rally.