While discount brokers have managed to grow at a rapid pace, they have not been successful in capturing substantial market share in the above-40 age category.
While divestment through IPOs saw an over 90 per cent drop as compared to the previous financial year, the exchange traded fund (ETF) route proved to be a shot in the arm for the government, reports Sundar Sethuraman.
A surge in foreign inflows is seen as the major reason behind the latest market surge.
The offering comprises secondary sale of 13.68 million shares, constituting 27.3 per cent stake.
Experts say foreign investor sentiment was bolstered by the US Federal Reserve's decision to go slow with interest rate hikes and hopes of political stability.
India now has three companies in the global top 100 list in terms of market value: Reliance Industries (RIL) ranks 72, Tata Consultancy Services (TCS) is at 86 and HDFC Bank at 99.
Global funds have pumped in over Rs 38,000 crore (about $5.5 billion) into domestic equities since February 20, helping the Sensex rebound 2,671 points, or 7.6 per cent, from its 2019 low.
The mid- and small-cap indices had a dream run between January 2017 and January 2018 - zooming 48 per cent and 56 per cent, respectively.
While the fresh issue portion of IPOs has been going down over the years, this financial year has been abysmally low at only Rs 2,663 crore, 82 per cent lower compared to the last financial year.
The weakness in the rupee and broader markets has led to evaporation in the market cap.
Sebi has allowed mutual fund schemes the option of 'side-pocketing' which move will help both fund houses and investors.
Zee and its lenders had decided to enter into an agreement to not offload the pledged shares amid a sharp slide in the prices of the underlying securities during end-Janury. The terms give the lenders a greater say, upside benefit from the proposed strategic sale, more cover and personal guarantee.
'Rather than abolishing stamp duty as STT is already levied on all transactions, the government has de-facto imposed a state STT in the guise of stamp duty'
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
Five to six issues may hit the market if Chalet Hotels's IPO is successful and if there are no negative surprises in the Union Budget on February 1.
'IPOs not clicking is cause for worry,' says Sebi chairman.
'Our preference remains for the less-expensive industrial stocks, which are showing good earnings momentum.'
All the countries in the top 10 have seen a decline in market value.
'The first half of 2019 could be volatile.' 'In the second half, volatility inducing events should be largely behind us.'
2018 has been a disappointing and highly volatile year for equity investors.
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