Financial Markets

RBI recognises FIMMDA as SRO for financial markets under new framework

FIMMDA has become the first financial market body to be recognised as a Self-Regulatory Organisation under the RBI's 2024 framework to enhance oversight and governance

RBI grants SRO status to FIMMDA for oversight of financial markets

The Reserve Bank on Wednesday said it has recognised the Fixed Income Money Market and Derivatives Association of India (FIMMDA) as an SRO in financial markets regulated by the central bank. In August last year, the RBI had issued the framework for recognition of Self-Regulatory Organisations (SROs) in financial markets. The norms were issued in view of the potential role of SROs in strengthening compliance culture among their members and also providing a consultative platform for policy making. The statement said, an application seeking recognition as an SRO in financial markets regulated by the Reserve Bank was received from the FIMMDA. "Based on an examination of the application against the relevant requirements under the framework, it has been decided to recognise FIMMDA as an SRO in financial markets regulated by the Reserve Bank," it said. FIMMDA, an association of commercial banks, public financial institutions, primary dealers, and insurance companies was incorporated as a

World won't shake off tariff tantrums soon: First Global's Devina Mehra

Mehra says that they remain overweight on Europe, China, and to an extent, India in their global funds, and have also increased their allocation to fixed income

Trump trade mayhem: India's options amid rising global uncertainty

In a fast-changing world, India's focus needs to be on pushing forward a broader, comprehensive trade and investment reform agenda

The slump's ice age ends: Average daily trading volumes start to thaw

COLD SNAP ENDS: Cash ADTV climbs 12%, derivatives up 23%

JSW Steel becomes world's most valuable steelmaker with $30.3 bn market cap

JSW Steel's stock has surged 18 per cent in 2025, making it one of the top performers on Nifty 50 index. With a market capitalisation of $30.31 billion, it leads its domestic & international peers

Stick to asset allocation during turbulent phases in the market

Combining various asset classes in a portfolio can mitigate the risk inherent in a single-asset portfolio

Next steps in fiscal management: Road map needed for debt, deficit targets

The Central government debt is projected to decline from 58.1 per cent of GDP in 2023-24 to 56.8 per cent in 2024-25

Asian stocks, dollar hold on 'cautious trade' to close out strong 2024

Volumes were light with holiday for New Year looming and Japan on holiday for the rest of the week, with the Santa-rally losing some steam as elevated Treasury yields weigh on high equity valuations

Soaring govt debt to destabilise financial markets in 2025, says BIS

Claudio Borio, head of the Bank for International Settlements' monetary and economic department, said he was on alert for a government debt glut causing bond market ructions

NSDL gets Vijay Chandok, financial market veteran as its new MD and CEO

The National Securities Depository Ltd (NSDL) on Friday said Vijay Chandok, a financial market veteran, has joined as its managing director and chief executive officer. Prior to joining NSDL, Chandok served as the MD and CEO of ICICI Securities. He held pivotal roles at the ICICI Group, including on the board of ICICI Bank as an executive director. A seasoned banker and a financial market veteran with over three decades of experience, Chandok brings a wealth of expertise in the BFSI sector, NSDL said in a statement. NSDL is a Sebi-registered market infrastructure institution offering a wide range of products and services to the financial and securities markets in India. Following the introduction of the Depositories Act in 1996, NSDL pioneered the dematerialisation of securities in India in November 1996. It is India's first securities depository to reach Rs 500 lakh crore (USD 6 trillion) in value of assets held in custody in September 2024. In October, NSDL received Sebi's go-ah

FPI selling spree continues in Nov at Rs 26,533 cr, pace of outflow slows

Foreign investors have pulled out Rs 26,533 crore from the Indian equity market this month so far owing to increasing allocations to China, concerns over muted corporate earnings and elevated valuation of domestic stocks. While the sell-off continues, the quantum of net outflows has significantly reduced compared to October, when Foreign Portfolio Investors (FPI) withdrew Rs 94,017 crore (USD 11.2 billion) on a net basis. With the latest pull-out, FPI outflows on a net basis are Rs 19,940 crore in 2024 so far. Going ahead, the flows from foreign investors into the Indian equity markets would depend on the policies implemented under Donald Trump's presidency, the prevailing inflation and interest rate dynamics, the trajectory of the geopolitical landscape, and the third-quarter earnings performance of Indian companies, Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Research India, said. According to the data, FPIs recorded a net outflow of Rs 26,5

Shriram Finance gains as board to mull over stock split, dividend on Oct 25

Shriram Finance has fixed the record date for payment of its interim dividend on Thursday, November 7, 2024

In unsecured loans pie, middle-layer NBFCs take the largest slice

Their share was 27.3 in end-December 2023, according to central bank's data

Investors to focus on US Fed interest rate decision this week: Analysts

The US Federal Reserve's interest rate decision is the biggest event that would drive sentiments in the domestic stock market this week, besides a host of macroeconomic data from the global front and trading activity of foreign investors, analysts said. The Indian equity market had an exceptional last week, with both the Nifty and Sensex hitting their all-time high levels on Thursday. The BSE benchmark breached the 83,000 level for the first time on Thursday. "One of the most anticipated events of the year is set to unfold this week with the US Federal Open Market Committee (FOMC) meeting scheduled for September 18th. It is almost certain that this will mark the beginning of an interest rate cut cycle in the US. The general consensus is for a 25 basis points (bps) rate cut, though some market participants are speculating a more aggressive 50 bps cut. "Such a move would be a significant positive trigger for global markets, particularly for emerging markets like India, as it would ...

India must avoid sway of fin mkts' expectations over macro outcomes: CEA

Speaking at the CII Financing 3.0 Summit in Mumbai, Nageswaran stated that when the financial sector is in excessively robust health, the health of the rest of the economy becomes fragile

Square Yards Q1FY25 results: PAT rises 66% to Rs 25 cr on high income

Square Yards, which is mainly into housing and home loan brokerage business, has reported 66 per cent increase in gross profit at Rs 25 crore for June quarter FY25 on higher income. Its gross profit stood at Rs 15 crore in the year-ago period. Total revenue rose 52 per cent to Rs 261 crore as against Rs 172 crore in the year-ago period. Out of the total revenue, the turnover of India business grew 49 per cent to Rs 217 crore. The company also has presence in Dubai market. "Q1 has consistently contributed 16-18 per cent of our overall revenue, and based on this trend, we project revenue for FY25 to align with our forecast of Rs 1,506 crore (USD 180 million)," stated Tanuj Shori, Founder and CEO, Square Yards.

Yes Bank relieves country head of financial markets Amit Sureka from duties

Yes Bank, where Indian lenders collectively own a 34 per cent stake and the State Bank of India (SBI) is the largest shareholder with a 24 per cent interest, has been seeking a new promoter

Zee's Securities Issue & Allotment Committee approves FCCBs worth $239 mn

Zee Entertainment on Tuesday said the Securities Issue and Allotment Committee of the company has approved the allotment of foreign currency convertible bonds (FCCBs) worth USD 239 million to investors. In a regulatory filing, Zee Entertainment Enterprises Limited said it has considered and approved the allotment of FCCBs of up to USD 239 million (around Rs 2,000 crore) maturing in 10 years on a private placement basis to Resonance Opportunities Fund, St John's Wood Fund Ltd and Ebisu Global Opportunities Fund. On July 16, the board of Zee Entertainment Enterprise Ltd (ZEEL) approved the raising of funds through FCCBs with a coupon rate of 5 per cent of up to USD 239 million from investors - Resonance Opportunities Fund, St. John's Wood Fund Ltd and Ebisu Global Opportunities Fund. These FCCBs will not be listed on any of the stock exchanges, it had said. However, investors who choose to convert their bonds into shares will pay Rs 160.20 per share. "In case of conversion of all FC

US Fed's high rates spur slowdown fear, heightens chances of recession

The turmoil shaking global financial markets reflects a sudden fear that the Federal Reserve may have held its key interest rate too high for too long, heightening the risk of a US recession. Economists and Wall Street traders now expect the Fed to cut its benchmark rate, which influences borrowing costs for consumers and businesses, much faster than they thought just a week ago. Chair Jerome Powell has often stressed that the Fed could quickly lower rates if it decides that it's needed to bolster the economy. The periodic fear of a forthcoming recession has been a hallmark of the post-pandemic economy and has proved wrong every time. Instead, contrary to what most analysts have predicted, steady economic growth and a solid pace of hiring have endured. In the past, the US economy would often flash telltale signals when it was in or near a recession. But those red lights have gone haywire since the COVID-19 pandemic struck and upended normal business activity. The latest red flag w