FYERS American Gambits defeated Triveni Continental Kings to retain their top position in the Global Chess League standings, ahead of Alpine APL Pipers. Other matches saw Ganges Grandmasters secure a dominant win over Continental Kings, while Mumba Masters suffered two defeats, including a loss to PBG Alaskan Knights. The Gambits, Pipers, and Grandmasters have all won four matches, with Gambits having played one more round.
Defending champions Alpine APL Pipers, led by World No. 1 Magnus Carlsen and Indian Grandmaster Vidit Gujrathi, defeated FYERS American Gambits 9-7 in a critical Global Chess League match. Carlsen ended Javokhir Sindarov's winning streak, while Gujrathi secured a marathon victory, propelling Pipers closer to a final berth.
Ganges Grandmasters have secured a spot in the Global Chess League finals despite a loss to PBG Alaskan Knights. Defending champions Alpine APL Pipers, however, suffered a defeat against Triveni Continental Knights, leaving their final berth dependent on the outcome of the last league match. Key moments included Ian Nepomniachtchi's draw against Viswanathan Anand and Magnus Carlsen's first loss in the competition to Alireza Firouzja.
Ganges Grandmasters, led by Ian Nepomniachtchi, defeated defending champions Alpine APL Pipers to win their first Global Chess League title. Nepomniachtchi's crucial win against Magnus Carlsen in the final, coupled with Stavroula Tsolakidou's performance, sealed the victory. FYERS American Gambits secured third place in the tournament.
In the Global Chess League, Ganges Grandmasters ended FYER American Gambits' winning streak with a 9-7 victory, moving to second place. Defending champions Alpine APL Pipers secured their second consecutive win, defeating Ganges Grandmasters 11-6. Key players like Polina Shuvalova, Ian Nepomniachtchi, Vidit Gujrathi, and Koneru Humpy delivered crucial performances, while Magnus Carlsen showcased his endgame prowess with a draw against Nepomniachtchi. PBG Alaskan Knights also registered a comfortable win against CheQ Mumba Masters.
Alpine APL Pipers secured the top position in the Global Chess League after defeating PBG Alaskan Knights. However, Ganges Grandmasters and FYERS American Gambits are close contenders. Ganges Grandmasters also had a strong win against the Pipers, while CheQ Mumba Masters kept their final hopes alive with a decisive victory over Triveni Continental Kings, featuring wins from top players like Magnus Carlsen and Levon Aronian.
Uzbek chess prodigy Javokhir Sindarov, set to challenge D Gukesh for the world crown, reveals he will only begin preparations for the highly anticipated match after competing in the Global Chess League and the Chess Olympiad this month, maintaining focus on immediate tournaments.
Goan Grandmaster Leon Luke Mendonca won his second straight Global Chess League title as Ganges Grandmasters defeated defending champions Alpine SG Pipers.
Uzbek prodigy Javokhir Sindarov is gearing up for the World Chess Championship against Gukesh Dommaraju, focusing on preparing for Gukesh's strongest form rather than his recent tournament results. Sindarov, who won the Candidates Tournament and World Cup, believes the match will be an engrossing battle and is confident in his preparations, which have delivered a successful season.
The Global Chess League's halfway stage saw significant upsets and dramatic finishes, with Triveni Continental Kings defeating table-toppers Alpine APL Pipers. Ganges Grandmasters secured a crucial win against PBG Alaskan Knights due to a last-second time violation, while CheQ Mumba Masters maintained their strong performance. These results have intensified the competition for the top two positions.
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A supremely confident upGrad Mumba Masters came up with another grand performance, beating Fyers American Gambits 9-7 to make it two wins on the trot and go top of the table in the Global Chess League in Mumbai on Monday.
The proposed move would help in cutting down compliance costs and reducing the friction between rules enacted by capital markets watchdog Sebi, depositories and government, experts said.
Leading brokers are expected to increase brokerage rates in the coming weeks, as they navigate a series of regulatory changes that are expected to squeeze profitability. According to industry sources, top brokers may soon begin charging for equity trades and raise the flat fees for intra-day and derivatives trading by 10-30 per cent. Several smaller players have already hiked their brokerage charges, signalling a potential end to the zero-brokerage era that has drawn millions of new investors into the stock market and fuelled active trading.
Leading stock exchange BSE has decided to discontinue Stop Loss Market (SL-M) orders from October 9 to prevent erroneous order placement arising out of manual or algo trades. This came after a recent freak trade incident caused a lot of angst among the trading community earlier this month due to an SL-M order. SL-M is a type of order that automatically sells or buys a security at the market price when the trigger price is reached.
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Investors may have to wait a little longer for Unified Payments Interface (UPI)-based block mechanism in the secondary market even as the market regulator has set the effective launch date as January 1, 2024. Several brokerage firms said they may take a few months more to implement it. Investors will be able to register for this facility only if the stock broker has opted for the UPI block facility.
BSE's fresh shot at cracking the derivatives market is off to a promising start. However, Asia's oldest bourse is facing resistance from brokerages with nearly 10 large brokers yet to offer the relaunched Sensex and Bankex derivatives on their platforms. Many brokers maintain that they are working on the back end to enable BSE derivatives on their apps and websites. Some said while volumes are picking up, they are still miniscule compared to bigger rival NSE, which is the most-preferred venue for derivatives trading. Only a few brokers responded to formal queries sent by Business Standard on the issue of allowing BSE derivatives on their platform.
Fund managers are withdrawing after a two-year long run in public sector bank (PSB) stocks. Domestic mutual funds (MFs) were net sellers of PSB stocks for the first time in nine quarters, offloading shares worth Rs 1,800 crore in the March quarter, said a report by ICICI Securities. In the previous eight quarters, fund houses had invested more than Rs 10,000 in PSBs amid deep discounts in valuation vis--vis their private sector peers.
'The stockbroker should have a good balance sheet to support its scale of operations. It should also have proper risk management in terms of margins so that it doesn't go bankrupt during extreme market movements.' 'The broker must have a track record of navigating several market cycles in an ethical and transparent manner.'
The Securities and Exchange Board of India (Sebi) has proposed measures mandating daily upstreaming of all investor funds from stockbrokers to clearing corporations (CCs). The step, aimed at reducing risk on client funds, will further deplete brokers' revenues as they will lose interest income with transfers being done daily. At present, stockbrokers convert the surplus funds into bank guarantees (BG) or fixed deposit (FD) receipts which earns them extra income.
Two equity funds at the opposite ends of the risk matrix - small-cap and arbitrage - bucked the 'low inflow' trend in May this calendar year 2023 (CY23) to receive the highest net inflows in recent years. The Rs 3,280-crore net inflows into small-cap schemes in May was the highest for the category since the mutual fund (MF) industry started releasing fund-wise inflow data in April 2019. Arbitrage schemes raked in a net Rs 6,640 crore - the highest since July 2021.
Net investments in active equity mutual fund (MF) schemes rose to Rs 7,300 crore in December after declining to a 21-month low of Rs 2,260 crore in November, shows the latest data from the Association of Mutual Funds in India (Amfi). The rebound in net inflows was driven by a surge in investments and moderation in redemptions. While the inflows into these schemes rose 5 per cent month-on-month (MoM) in December, the redemptions were 14 per cent lower compared to November.
'Younger investors start their journey with very little capital so they are risking less while they have a lot of time to experiment and learn early on.'
Undeterred by the stock market volatility, uncertainty due to the Ukraine-Russia war and high inflation, equity mutual funds continue to remain attractive choice for investors for the 15th straight month, registering a net inflow of Rs 18,529 crore in May on robust SIP numbers. This was higher than Rs 15,890 crore net inflow in April, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors.
Investors in international funds should have a horizon of more than five years. Not only will this help them overcome equity and currency volatility, it will also help them enjoy better tax treatment, says Sanjay Kumar Singh.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by HDFC Bank, Infosys, NTPC, Nestle India, TCS and HUL. NSE Nifty surged 337.80 points to 14,845.10.
Affordable pricing, a variety of themes, and the ease of transacting are among key reasons that have made smallcases a hit among young investors.
In case of any grievance, file a complaint with Sebi on its SCORES (Sebi Complaints Redress System) web site, suggests Sanjay Kumar Singh.
