Page 94 - Stock Market

Inox India, DOMS Industries among 5 companies to crowd IPO lane this week

The IPO lane is getting crowded as five companies, including India Shelter Finance and DOMS Industries, have lined up public offers this week on favourable market conditions. The other three companies whose maiden public issues are slated to open are Inox Group entity Inox India, Jaipur-based retail jewellery company Motisons Jewellers and Mumbai-based Suraj Estate Developers, according to their Red Herring Prospectus (RHPs). Together, these companies are estimated to raise at least Rs 4,200 crore. This comes on the back of 10 companies successfully concluding their maiden public issues last month. The list included the IPO (Initial Public Offerings) of Tata Technologies, which was the first company from the Tata Group to float an initial share sale in nearly two decades. Tata Consultancy Services was the last IPO from the group in 2004. Overall, the Indian IPO market witnessed more than 44 issues that collected around Rs 35,000 crore in the current fiscal FY24 (till November).

Ready to introduce same-day settlement of trades by March 2024: Sebi chief

Sebi chief Madhabi Puri Buch on Friday said the capital markets regulator is ready to introduce same-day settlement of trades on the stock exchanges by March 2024. Speaking at the Global Economic Policy Forum 2023 organised by the Confederation of Indian Industry (CII), Buch said, "We are ready to introduce T+0 (T plus zero) settlement trade by the end of the current fiscal". The regulator, which has already reduced the settlement timelines to as short as one day after the transaction, is now looking to shorten the same further. The Sebi chief talked about the T+1 regime that has been implemented in the market. Earlier this year, the country's stock markets transitioned from T+2 to T+1 settlement, settling trades on the following business day. "It takes two things to make this happen. First is technology and second is co-creation. We are now moving to T+0 which will happen before the end of this financial year and one year from there we will have instantaneous settlement, which is

Sebi to introduce ASBA-like facility for secondary mkt trading from Jan-Feb

To safeguard investors' money from misuse, an ASBA-like facility for trading in secondary markets will be available from January or February, Sebi chief Madhabi Puri Buch said on Friday. This Application Supported by Blocked Amount (ASBA)-like facility already available for the primary market, ensures that the investor's fund gets moved only when the allotment is completed. Now, the facility will be available for the secondary market from January or February, the Sebi chairperson said at the CII Global Economic Policy Forum here. The move could also help investors to save as much as Rs 3,500 crore annually, she added. Under the framework, funds will remain in the client's account but will be blocked in favour of the Clearing Corporation (CC) till the block mandate expires or till the block is released by the CC, or debit of the block towards obligations arising out of the trading activity of the client, whichever occurs first. Further, settlement for funds and securities will be d

State-owned cos seen extending rally on PM Modi's expected re-election

Modi's government is spending billions of dollars on everything from roads and railways to defense, renewing interest in a sector that has for long been a straggler of India's $4 trillion stock market

Sensex, Nifty snap 7-day winning run, end marginally down; Paytm cracks 19%

Closing Bell on December 7, 2023: Broader indices, however, outperformed on Thursday - the BSE MidCap index advanced 0.7 per cent, while the SmallCap added 0.3 per cent.

Nifty Metal in overbought zone, Nifty Pharma could see minor correction

Anticipated resistance on charts is around 7,675 for Nifty Metal; the consolidation range for pharma index is between 16,470 and 16,030

BSE SME stocks see total m-cap crossing Rs 1 trn on investor exuberance

The BSE SME IPO index has surged over 2,400 per cent since the end of 2019

India's stock market value tops $4 trillion, narrowing gap with Hong Kong

The market capitalisation of companies listed on India's exchanges has risen by $1 trillion in less than three years, as the South Asian market emerges as one of the best performers

Minor pullback in Nifty IT; range-bound movement in Nifty Auto likely

The optimal trading strategy for risk-tolerant traders involves selling Nifty IT either at the current levels or on upward movements, suggests Ravi Nathani

Fed cut expectations 'overdone,' volatility to jump in 2024: BlackRock

"Market pricing for rate cuts is a bit overdone in our view," said Wei Li, Global Chief Investment Strategist for BlackRock. "Rate volatility is here to stay"

BJP election victories fire up market, 'boost' investor sentiment

Results give message of political continuity and 'augur well' for macroeconomics, say analysts

Gautam Adani's wealth swells by $10 billion on relief stock rally

"The general view is that the worst is behind and now we will not hear about Hindenburg," said a portfolio manager said

Wired for growth: Strong outlook fuels EMS players' success circuit

The sector saw a dual dynamic in Q2 - revenue growth acted as a current of strength, yet profit margins faced resistance

In a first, NSE listed companies' market capitalisation surpass $4 trn mark

The market capitalisation of listed companies on the NSE has surpassed the USD 4 trillion (Rs 334.72 trillion) mark for the first time ever, with the benchmark Nifty hitting its all-time high of 20,291.55 last Friday. The benchmark Nifty climbed 134.75 points or 0.67 per cent to settle at an all-time high of 20,267.90 on Friday. During the day, the benchmark reached its intra-day record high of 20,291.55. The Nifty-500 index also touched an all-time high of 18,141.65 on the same day, indicating that the equity market rally is not restricted to only the large-cap stocks. "The achievement of this milestone is a testament of the vision outlined for the Amrit Kaal which includes a technology-driven and knowledge-based economy with strong public finances, and a robust financial sector," NSE said in a statement on Sunday. The journey of market capitalisation of listed companies rising from to USD 2 trillion (in July 2017) to USD 3 trillion (in May 2021) took about 46 months, whereas the

Out of Rs 1 trn worth of FDI proposals from bordering nations, half cleared

The government has received foreign direct investment (FDI) proposals worth about Rs one lakh crore since April 2020 from countries sharing land border with India and half of those applications have been cleared so far, a top official said. The remaining are either pending or withdrawn or rejected by the government. In April 2020, the government came out with a press note under which the Centre made its prior approval mandatory for foreign investments from countries that share land border with India to curb opportunistic takeovers of domestic firms following the COVID-19 pandemic. Countries which share land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan. As per that decision, FDI proposals from these countries need government approval for investments in India in any sector. After that press note, "proposals worth about Rs one lakh crore have come in and in that, 50 per cent have been cleared and the rest are either pending or withdrawn o

Mkts to focus on state elections outcome, RBI's rate decision: Analysts

Global trends, trading activity of foreign investors, outcome of state elections and RBI's interest rate decision are the major factors that will drive the movement in the domestic equity markets this week, analysts said. "Global markets are currently in a fabulous mood. The US 10-year bond yield and the dollar index are also cooling off, which gives strength to the market. These factors will be closely monitored, as they have the potential to influence market sentiment," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd. On the political front, the results of assembly elections in five states are eagerly anticipated, Gour said. "A stable political environment could boost investor's confidence and drive the markets higher. Domestic and global macroeconomic data, trends in global stock markets, the movement of the rupee against the dollar, and crude oil will also dictate trends," he added. From the macroeconomic data front, PMI (Purchasing Managers' Index) data fo

FPIs infuse Rs 9,000 crore in equities in Nov, inflow in debt at 6-yr high

After turning net sellers in the past two months, FPIs again made a comeback in the Indian stock markets in November and pumped in Rs 9,000 crore amid fall in US treasury bond yields and the resilience of the domestic market. Additionally, Foreign Portfolio Investors (FPIs) made a net investment of Rs 14,860 crore in the debt market last month, making it the highest level in six years, data with the depositories showed. Going forward, FPI response will be crucially determined by the market trend, which, in turn, will be influenced by the state election results, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. If the state election results turn out to be favorable for the ruling dispensation, the market will stage a rally, and overseas investors are unlikely to miss that rally by big selling, he added. According to the data, FPIs made a net investment of Rs 9,000 crore in Indian equities in November. This came after FPIs dumped Indian equities worth R

Sharp decline in FDI into India from Cayman Islands, Cyprus during H12023

Foreign direct investment (FDI) into India from Cayman Islands and Cyprus contracted significantly during April-September this fiscal as the overall inflows declined by 24 per cent, according to the government data. FDI from Cayman Islands dipped 75 per cent to USD 145 million during April-September from USD 582 million in the same period last fiscal, the data showed. Similarly, inflows from Cyprus contracted by over 95 per cent to USD 35 million during the six-month period as against USD 764 million in April-September 2022-23. Experts have attributed the sharp fall in FDI from Cyprus and Cayman Islands to a hightened scrutiny of applications. Anjali Malhotra, Partner Regulatory, Nangia Andersen India said FDI inflows from other tax havens such as Singapore, and the UAE have also lost their sheen along with Cayman Islands and Cyprus during first half of 2023-24. "...the recent decline in investment from Cayman Islands and Cyprus may be attributed to enhanced scrutiny of these ...

BSE-listed firms' market valuation touch record high of Rs 337.67 trillion

The combined market capitalisation of BSE-listed companies hit an all-time high of Rs 337.67 lakh crore (USD 4 trillion) on Friday amid a rally in equities, mainly on account of favourable macroeconomic data and continuous foreign fund inflows. Rising for the fourth straight day, the 30-share BSE Sensex jumped 492.75 points or 0.74 per cent to settle at 67,481.19 points. During the day, it rallied 575.89 points or 0.85 per cent to 67,564.33 points. In four days, the benchmark index has surged 1,511.15 points or 2.29 per cent. Amid the optimistic trend in equities, the market capitalisation of BSE-listed firms soared to Rs 337.67 lakh crore, translating to USD 4 trillion at the exchange rate of 83.30. In four days of the market rally, investors' wealth have gone up by Rs 8.95 lakh crore. The combined market valuation of all listed companies on the BSE reached the USD 4 trillion-milestone for the first time ever on Wednesday. The 30-share benchmark hit its all-time peak of 67,927.2

40% wealth and pension funds prefer India over China, shows study

Almost 40% of investors chose India as the most attractive emerging market, while less than a quarter selected China in a survey