In a bid to further boost bilateral trade ties, Singapore, one of the largest foreign investors in India, on Saturday invited Indian companies to list their stocks on its stock exchange.
The Securities and Exchange Board of India (Sebi) has introduced an optional T+1 settlement cycle for the markets. T+1 means that settlements will have to be cleared within one day of the actual transactions taking place. The regulator has put the onus on the stock exchanges to decide whether they want to opt for the shorter settlement cycle for any of the listed scrips. This can be done after giving a one-month prior notice to all stakeholders.
Tata Steel was the top gainer in the Sensex pack, jumping over 6 per cent, followed by Sun Pharma, L&T, M&M, PowerGrid, Bajaj Finserv, TCS and Infosys. On the other hand, Wipro, Asian Paints, HDFC Bank, IndusInd Bank and HCL Tech were among the laggards.
Inflation data and global trends would be the major driving factors for the equity markets this week which after a record-breaking run took a breather in recent trades, analysts said. The overall market sentiment remains positive, supported by improving economic data and earnings but higher valuations can trigger bouts of profit booking, they said further. During the last week, which the 30-share BSE benchmark rose by 175.12 points or 0.30 per cent.
Demonetisation, Donald Trump's surprise victory in the US presidential elections, and the fear that US Fed may hike rates in the upcoming policy review in December have dented market sentiments, report Puneet Wadhwa & Deepak Korgaonkar.
BSE benchmark Sensex plummeted over 388 points to close at 58,576.37 on Tuesday, tracking weakness in index majors Wipro, RIL and Bharti Airtel amid a weak trend in global markets. Investors also remained cautious ahead of crucial macroeconomic data announcements -- industrial production for February and inflation rate for March -- post trading hours. The Sensex declined 388.20 points or 0.66 per cent to settle at 58,576.37. During the day, the benchmark tanked 666 points or 1.12 per cent to 58,298.57.
'A lot has been done under the leadership of PM Modi. He is a patriot of his country. His idea of 'Make in India' matters both economic wise and in ethics. Future belongs to India, it can be proud of the fact that it's the largest democracy in the world,' the Kremlin said at Valdai Discussion Club.
Higher growth, reform bets have boosted returns but leave limited room for error.
The funds, some of which have invested in the NSE for almost a decade, want the exchange to list as soon as possible so that they can exit and pay back investors in their funds
'India's edtech and start-up story will be in danger.'
The General Anti-Avoidance Rule (GAAR) may have been deferred for a year but many foreign institutional investors (FIIs) do not want to take chances. They are shifting their trading positions to Singapore, where derivatives of India's key equity index, the Nifty, are listed.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
From the 30-share pack, Asian Paints, Reliance Industries Limited, Bajaj Finance, Mahindra & Mahindra, Indusind Bank, Bajaj Finserv, Maruti Suzuki, HDFC Bank and UltraTech Cement were the major gainers, jumping up to 5.56 per cent.
SBI was the top loser in the Sensex pack, shedding over 1 per cent, followed by Reliance Industries, Tech Mahindra, M&M, L&T, Bharti Airtel, IndusInd Bank and HDFC. NSE Nifty slipped 31.60 points to 15,824.45.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
While FIIs have pumped in nearly Rs 17,000 crore, MFs have been net buyers to the tune of Rs 9,000 crore.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
Equity indices failed to hold on to their gains in see-saw trade on Tuesday, ending in the red for the third straight session despite a tentative recovery in global equities. The rupee too bounced back from historic lows, but the overall sentiment remained risk-averse amid concerns over economic recovery in a high interest rate scenario. The 30-share BSE Sensex had a choppy start but gained momentum in mid-session trade. However, it succumbed to selling pressure towards the fag end to close 105.82 points or 0.19 per cent lower at 54,364.85. On similar lines, the broader NSE Nifty declined 61.80 points or 0.38 per cent to finish at 16,240.05.
Ajit Balakrishnan on keeping an eye on democratising finance in India.
ONGC was the top gainer in the Sensex pack, surging around 7 per cent, followed by IndusInd Bank, Infosys, Tech Mahindra, Reliance Industries, HCL Tech and TCS. On the other hand, HDFC, ICICI Bank, Axis Bank, SBI and M&M were among the laggards.
Addressing party MPs at the general body meeting of the Congress Parliamentary Party in the central hall of Parliament, she said when facing a significant national challenge, it has been the tradition in our country to bring Parliament into confidence.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries. NSE Nifty fell 185.60 points to 17,671.65.
India believes rich nations should be away from farm subsidies.
However, volatility is likely to be on the rise, said Benjamin Yeo, MD & CIO (Asia & Middle-East) for Wealth & Investment Management, Barclays.
A sharp sell-off in the Indian equities markets after a spike in crude oil prices should not be surprising. Historically there is a negative correlation between stock valuations in India and the price of Brent crude oil, which is the benchmark for the Indian crude oil basket. Between 2011 and 2014, crude oil traded above $100 a barrel for an extended period, the Sensex-trailing price/earnings (P/E) was 18X, on average, during the period, nearly 22 per cent lower than the current index P/E of 23X.
The RBI's financial stability report has on Wednesday highlighted the disconnect between the real economy and equity market yet again. The central bank observed that Indian equities were trading at rich valuations, with several metrics such as price to earnings multiples, price to book ratio, market cap to GDP and the cyclically adjusted P/E ratio, or Shiller P/E, at above historical averages. For instance, as on December 13, the one-year forward P/E ratio for India was 35.1 per cent, above its 10-year average, and one of the highest in the world.
Global trends, WPI inflation data for April and the ongoing quarterly earnings of corporates would be the major driving factors for the stock markets, analysts said. Investors would also keep a tab on the movement of foreign institutional investors who are on a selling spree in the domestic equity market for the past many days. "Inflation concern and monetary tightening across the globe are key concerns for the equity markets. "Equity markets are under the strong grip of bears however they look extremely oversold and due for a pullback rally.
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
'This fall is nothing. We could see worse if everybody hits the panic button.'
Bhargavi Zaveri & Radhika Pandey explains how complexities of foreign exchange rules are used by India Inc to dispute contractual obligations.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Shivaji made sure that his soldiers respected the sanctity of mosques and the Quran Sharif to ensure that his fight against the Mughals did not become fight against Islam, explains Colonel Anil A Athale (retd).
Stretched valuations and slowdown in DII flows are some of the reasons why Goldman Sachs cut its India rating to 'market-weight'
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
COVID-19 forced people to work from home turned into the fuel for new demat accounts, observes Debashis Basu.
Although the Malabar is a routine exercise which has been carried out for several years now, security experts attach a lot of traction to it in view of China's assertive behaviour in the South China Sea, observes Rup Narayan Das.
China continues to hold the top slot.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
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