Page 95 - Stock Market

Sebi tweaks rule on upstreaming clients' funds by brokers to clearing corps

To promote ease of doing business, capital markets regulator Sebi on Tuesday tweaked the framework requiring stock brokers or clearing members to upstream clients' funds to clearing corporations. This came after Sebi received representations from various stakeholders -- stock brokers, and brokers' associations citing certain operational difficulties in implementation of the framework. Addressing the issue, Sebi said that stock brokers (SBs) or clearing members (CMs) will upstream all the clients' clear credit balances to clearing corporations (CCs) on the End of Day (EOD) basis. Such upstreaming will be done only in the form of either cash, lien on Fixed Deposit Receipts (FDRs) created out of clients' funds, or pledge of units of Mutual Fund Overnight Schemes (MFOS) created out of clients' funds. Stock brokers are required to maintain designated client bank account to receive funds from their clients. The nomenclature of all such accounts will be changed to either of the two ...

This asset has beaten others hands down in 2023 with a rise of 165%

A positive for Bitcoin over the next few months is the expectation that the BlackRock application to launch a Bitcoin spot ETF is likely to be approved soon

Crisis-hit SpiceJet to raise Rs 2,250 crore through equity shares

Crisis-hit SpiceJet on Tuesday said it will raise fresh capital of Rs 2,250 crore through issuance of equity shares. The airline's board has approved the issuance of equity shares/equity warrants under a private placement basis. The proposed fund infusion will go a long way in enhancing product presence and market reach as well as provide a deep financial foundation, the airline said in a filing. For the quarter ended September, the airline posted a net loss of Rs 428 crore. In the year-ago period, the net loss stood at Rs 835 crore.

Desperate retail investors drive India's futures and options craze

The Securities and Exchange Board of India's crackdown on social-media influencers peddling advice is a losing battle.

The milestone march: Sensex races past 70,000 but rally slows down

Benchmark indices shed early gains as investors await Fed decision

Jindal Stainless, PNB among four stocks to enter MSCI global index in Feb

A slide in shares of Indraprastha Gas and Petronet LNG could increase the risk of their expulsion from the MSCI index

60K to 70K: ICICI, ITC, L&T provide biggest lift in Sensex latest 10K lap

Nine index components have dragged the index lower by over 1,600 points since September 2021 and nearly half the components have underperformed

A dose of concern for DRL: Sinks 5% on USFDA 'imminent' warning

Sell-off in response to a brokerage report, raising concerns about a warning on DRL's FTO 3

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