Sebi proposes to relax ownership rules to allow more entrants in the exchange space, which is seeing a disruption globally with the emergence of new technologies such as block chain.
Bourses ask for okay in the 'permitted to trade' category; brokers and legal experts speak in favour.
In an effort to attract investors to the Social Stock Exchange (SSE), the bourses have reached out to the Securities and Exchange Board of India (Sebi) and the government with the industry's demand for additional benefits on contributions made towards social enterprises through the platform. SSE is a regulated platform to facilitate organisations working towards social causes to raise funds and have access to higher capital through the bourses. The platform is aimed at becoming a meeting ground for donors and social enterprises.
"The defaults falling in the category of fraudulent and unfair trade practices, which in the opinion of Sebi are very serious and have caused substantial losses to the investors, shall also not be consented," the market regulator, which released a new framework for passing consent orders, said.
The market breadth too turned negative at close. Out of 3,059 stocks traded on the BSE, 2,071 declined and 883 advanced on Friday.
The Supreme Court on Friday ordered withdrawal of the Look Out Circular (LOC) issued against Trinamool Congress MP Abhishek Banerjee and his wife Rujira in connection with the money laundering cases against them linked to an alleged coal smuggling scam in West Bengal.
A spokesperson of ICICI Bank, which had approached the regulator seeking a probe into what they called 'beating down' of their shares by vested elements, declined to comment.
Ajay Banga was on Wednesday appointed the next president of the World Bank, becoming the first-ever Indian-American to head the global financial institution which said it looks forward to working with him at a time when it's tackling the toughest development challenges facing developing countries. "The executive directors of the World Bank today selected Ajay Banga as president of the World Bank for a five-year term beginning June 2, 2023," the bank said in a press statement. In February, President Joe Biden announced that the US would be nominating Banga, 63, to lead the World Bank because he is "well equipped" to lead the global institution at "this critical moment in history."
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
The regulator may float consultation papers for FPIs and private equity funds and the final decision will be taken after taking into account views of all the stakeholders
Sebi has asked clearing houses to establish separate funds for all segments of the market including equity, debt and currency.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
We recently discussed airline bloopers and invited readers to share their air travel stories with us. Here, reader Hari shares his experience of finding love on board a flight.
Indian brokerage arm of global investment banker Morgan Stanley has sought RBI's approval to start proprietary trading under which it will be able to buy and sell securities on its own account.
Insider trading -- dealing in securities with prior access to unpublished price-sensitive information -- has been attracting regulatory attention worldwide.
The RBI raked in a massive net income gain from foreign exchange currency sales as a buffer for the rupee during tumultuous geopolitical upheavals last year owing to Russia's invasion of Ukraine.
"Lady candidates need not apply." So read the postscript in a job notice from Telco (now Tata Motors) on a notice board in the corridors of the Indian Institute of Science, Bangalore (now Bengaluru), in 1974. Irked, Sudha Murty, who was then pursuing her masters in computer science at the institute, wrote a postcard to JRD Tata, expressing her surprise at this gender discrimination, especially since the Tata Group were pioneers on many fronts. Shortly, Murty became the first woman on the firm's shop floor.
The National Stock Exchange (NSE) on Friday warned investors not to fall prey to investment plans with guaranteed returns offered by Suraj Mourya associated with "Aimers Trader". The exchange pointed out that these entities are not registered either as a member or authorised person of any registered member of the NSE. The cautionary statement comes after the NSE noticed that Suraj Mourya associated with Aimers Trader was offering to handle trading accounts of investors by asking them to share their user identification (user ID) and password.
The domestic equity market, which is on a record-breaking spree, will focus on macroeconomic data announcements, movement in global stocks and the US Fed minutes to get further direction, analysts said. Trading activity of Foreign Institutional Investors (FIIs) will also innfluence investors.From the domestic macroeconomic front, Purchasing Managers' Index (PMI) data for the manufacturing sector will be released on Monday, and that o,f the services sector on Wednesday. Investors, this week, will keenly watch major global market events, icluding the outcome of the Federal Open Market Committee (FOMC) minutes, scheduled to be out on Wednesday.
Indian imports of Russian oil plunged by a record in August month-on-month (M-o-M) as discounts on the fuel shrank in tandem with rising Brent oil prices. Higher crude prices will drive inflation or hurt earnings at oil companies and India's fiscal position if such spikes are not passed on to consumers. Indian purchases of Russian crude declined by around 24 per cent in August from July to the lowest level since January, with refiners expecting volumes to drop further amid rising rates of Russian benchmark Urals grade, substantial stocks at refiners, and planned maintenance at Indian refineries, according to ship tracking data and industry officials.
Sebi first began looking into the matter last month.
Linking all accounts is a difficult and costly task for brokers
As part of efforts to develop the corporate bond market, trading platforms for the fledgling instruments are expected to be operational from July at the Bombay Stock Exchange and the National Stock Exchange.
Diversified entity ITC Ltd on Thursday reported a 22.66 per cent rise in consolidated net profit at Rs 5,225.02 crore in the fourth quarter ended March 2023, led by a strong growth momentum across operating segments. The company had posted a net profit of Rs 4,259.68 crore a year ago, ITC Ltd said in a regulatory filing. Its revenue from operations increased 7 per cent to Rs 18,799.18 crore in the period under review against Rs 17,754.02 crore in the year-ago period.
For India to reach its ambiguous economic growth targets, it needs to be integrated into global trade pacts.
With the merger between HDFC Bank and HDFC Ltd complete, analysts said the next key monitorable for the Street would be successful resolution of merger-related hiccups, including employee-related churn and roll out of complete banking services across branches. At the bourses, they expect the stock to perform in-line with the benchmark indices in the near-term. "There's usually an initial period of consolidation after a merger as the entities work towards integration.
Seek advice from Sebi-registered investment advisors whose names are available on Sebi's Web site.
Leading stock exchanges BSE and NSE have barred three entities from trading on their platform after they defaulted on dues in connection with Rs 5,600 crore (Rs 56 billion) payment crisis at National Spot Exchange Ltd (NSEL).
In an interim order, pending investigation and passing of final order also debarred 228 persons and entities from trading in the markets including IPO. The order in Pyramid Saimira case relates to media reports in December last year that Sebi had directed Saminathan to make an open offer for an additional 20 per cent stake at a price not less than Rs 250.
The framework does not allow settling of serious violations that have 'market-wide impact'.
The initial findings, when corroborated with the charges made by the CBI, indicate towards a lage-scale front-running deals or shares being purchased or sold in these companies on the basis of prior knowledge about investment decisions being made by large institutional investors, a senior Sebi official said.
The alleged synchronised or circular trading in these companies happened from March 1, 2009 to December 15, 2009 on the Bombay Stock Exchange.
Indian stock market regulator, the Securities and Exchange Board of India, on Tuesday paved the way for Indian investors to trade in large indices of 24 global exchanges, including that of the United States, Europe and Asia.
In its efforts to make listed firms more responsible towards investors, Sebi may announce new insider trading norms as early as next week.
Market watchdog Sebi gave its approval on October 11, USE said in a statement. NSE officials too confirmed receiving the approval.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
The Securities and Exchange Board of India is in final stages of putting in place the system, which is expected to become operational in a couple of months. At present, there are three exchanges -- the BSE, NSE, and MCX -- which have trading in currency futures.
The country's largest stock exchange in terms of volume has 'received an in-principle nod from Sebi for starting an exchange to trade foreign currency derivatives,' sources close to the development said. NSE officials, however, were not available for comment.
The Supreme Court on Wednesday refused to entertain a plea seeking to prevent a 'mahapanchayat' called by Hindu outfits in Uttarakhand and registration of an FIR against hate speeches allegedly targeting members of a particular community.
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