Mastermind of Citibank fraud Shivraj Puri took an exposure of whopping Rs 1.13 lakh crore (Rs 1.13 trillion) in the equity market using Rs 236 crore (Rs 2.36 billion) of 51 high net-worth individuals and corporates and lost everything following decline in stock markets, says a Sebi report.
Renewed buying interest in late trades on hopes of BJP-led NDA win pushed indices to record closing highs.
Vedanta was the biggest gainer in the Sensex pack, rising 4.40 per cent. PowerGrid, Sun Pharma, Yes Bank, Tata Steel, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Auto too ended up to 4.12 per cent higher.
'As an investor, I either have to exit my investments in the next three months or use dark pools or cash to transact. For a normal investor, it will be almost impossible to transact in bitcoin and other digital currencies.'
Stocks smashed previous records as the Sensex on Thursday raced to close at a fresh high of 30,750 zooming 448 points.
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
In efforts to move towards a cashless society, the Reserve Bank on Wednesday said it will come out with a concept paper on promoting electronic payments, especially in smaller towns, by November-end.
Tillerson said he hoped that at some point the North Koreans will begin to understand that the US would like to sit and have a dialogue with them.
The government's initiative to set up a high-capacity power transmission link between India and Sri Lanka is likely to be completed by 2013.
Barack Obama on Thursday named Mary Schapiro, head of the securities industry's self-regulatory body, as chair of the Securities and Exchange Commission.
Indian equity markets are likely to witness volatility this week due to concerns over rising cases of coronavirus and expiry of derivatives contracts, analysts said. Further, progress surrounding the COVID-19 vaccine, related updates, US stimulus talks and global cues would dictate the market trend, traders said. "Going ahead, the market is likely to be volatile as sentiments oscillate between fear of rising COVID cases globally and optimism over vaccine progress. Investors would closely watch out development over the US stimulus talks," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Sebi suggests there should be checks on the quantity ordered and the margin available with the exchange, indicating brokers' exposure limits.
Sensex ends below 19,000 mark after 3 months.
If you missed the primary market bus but still want to invest in Sovereign Gold Bonds, then feel lucky.
As much as half the turnover of all stock exchanges in India is accounted for by only 25 broking firms. Ninety per cent of the turnover of all stock exchanges in the country is out of only five cities. These are hardly healthy signs of India's financial markets.
Options data indicates that markets will experience extreme volatility till a clear trend on election results emerges
If you leave too much money lying in your trading account or hand over your securities to brokers, there is always the risk that they could use it to trade in the markets.
Among the sectoral indices, the BSE Consumer Durables soared 4% to 3,334.
How should investors go about investing in gold and silver? Here are some simple rules.
As the 2019 election draws near, investors focus on long-dated options.
About 900 employees would lose their jobs following the suspension of operations at the plant.
Future conflict will involve bypassing of frontiers to strike at critical vulnerabilities directly and in the hinterland at the appropriate time, explains Lieutenant General Anil Chait (retd), who served as chief of the Integrated Defence Staff and Central Army Commander.
A direction by Chief Justice of India S A Bobde, Justice B R Gavai, and Justice Surya Kant to the Karnataka high court asked the latter to expeditiously settle the matter of assets deposited before it by Mallya for liquidation, and thereby payment to creditors 'preferably not later than three months'. It will be interesting to see the view of the London high court, if the settlement of his dues to Indian creditors is imminent, reports Ashis Ray.
SEBI's intention of introducing a volatility index (V-I) and derivatives based on it for Indian markets is a welcome move.
Markets continued to trade on a volatile note in afternoon deals, ahead of the futures and options expiry on Thursday. The Sensex is up32 points at 16,999. Nifty is up five points at 5,146.
Market sources said other brokerages are also looking to streamline their business models as market volatility, along with increasing competition, has taken a toll on earning yields.
Smaller stocks continue to shine at the bourses. The BSE MidCap index is up 18 per cent since the beginning of January this year against a 5 per cent rise in the Sensex during the period. With the current rally, the mid-cap index has doubled in value since the end of March 2020 against a 70 per cent rally in the Sensex during the period. On Tuesday, the mid-cap index closed at 21,232, as compared to 17,941 at the end of December 2020. In the same period, the benchmark index moved from 47,751 to 50,193.
'Employees may well be expected to be on call at almost all times -- much like the standard Indian approach to the workday,' points out Mihir S Sharma.
BSE Power, Realty, Auto and PSU indices ended almost 1% down
Market regulator Securities and Exchange Board on Tuesday called for reforms in the underlying market and said regular issuance of government bonds across maturities can go a long way in achieving this by way of increasing liquidity.
A salaried individual needs to file returns as a business owner if s/he has a high turnover while trading in stocks or futures & options, reveals Tinesh Bhasin.
'Transformation of Ukraine into some kind of permanent strategic challenger, which Russia would have to contain and deter, spend a significant part of political and strategic resources on it.'
Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
The onus today is on China, but it also requires a little diplomatic finesse from India, backed by a modernised armed force, argues BJP MP Subramanian Swamy in this excerpt from his new book, Himalayan Challenge: India, China And The Quest For Peace.
Deven Choksey, managing director of broking firm, K R Choksey Investment Managers shares his concern about 'trading stoppages' with Rediff.com's Prasanna D Zore.
EC said as per the Supreme Court, the outer limit for holding fresh polls after dissolution of a house is six months, that is May, 2019.
The broader 50-issue NSE Nifty slipped from its record closing, shedding 2.30 points or 0.02 per cent to end at 11,132.00.
'We have to keep that in mind and have plan A B C D because the trust factor with Pakistan or China is very low.'
These funds give the wealthy an option to invest in strategies that other equity products like mutual funds and portfolio management services cannot, says Nishant Agarwal.
