To safeguard investor interest, stock exchanges BSE and NSE on Wednesday advised their members to take extra caution while trading in nearly 400 illiquid stocks.
The NSE Nifty settled at 10,234.65, down 225.45 points, or 2.16 per cent.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
It pegs the value of these companies at Rs 2 lakh crore (Rs 2 trillion).
Yes Bank was the biggest loser in the Sensex pack in absolute terms, cracking 12.85 per cent, after the company reported a massive 92.44 per cent slump in consolidated net profit to Rs 95.56 crore. ONGC, Tata Motors, M&M, Maruti, Vedanta, Bajaj Auto, TCS, SBI and HCL Tech lost up to 4.24 per cent.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
Veteran banker Vikram Limaye will soon leave BCCI's Committee of Administrators to head the National Stock Exchange (NSE) and that will a big loss to the the already trimmed panel, said COA member Diana Edulji.
Over 900 listed firms yet to comply with new Sebi requirement due in less than 90 days
Leading exchange BSE on Wednesday asked Infosys to explain why it did not make a disclosure about a whistleblower complaint which alleged that the company's top executives were following "unethical practices" to shore up profits through irregular accounting ways.
While Airtel has hiked the limit to 100 per cent in principle, the company needs to address some issues on overseas investment limits in subsidiaries, before the changes come into effect. Until then, the cap on foreign ownership will remain at 49 per cent under the automatic route.
The Bombay Stock Exchange (BSE) has slapped fines on 530 listed companies for failing to meet a deadline to appoint a women director and boost gender diversity in their boardrooms.
For the week, the Sensex recorded a fall of 371 points, or 1.10 per cent, and the NSE Nifty 130.75 points, or 1.25 per cent.
The frequent flash crashes - sharp falls in stocks or indices within minutes - have the Securities and Exchange Board of India (Sebi) worried.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
Recent incidents suggest these safeguards perform well in simulated conditions and mock drills, but often fall short when actual threats emerge.
Since the Budget announcement on July 5, FIIs have been busy unloading their stock.
The Securities and Exchange Board of India, which had earlier rejected the MCX-SX's plea, was asked by a bench of justices Aftab Alam and C K Prasad to reconsider it within three months.
Shares of IT giant Infosys erased early gains and ended with a loss of nearly one per cent on the NSE today on profit-booking after the company named former SAP executive board member Vishal Sikka as its new CEO.
Sentiment turned weak after data released after market hours on Monday showed that the country's trade deficit, or difference between imports and exports, reached USD 14.88 billion in December, up about 41 per cent year-on-year, as crude oil and gold import bill inflated.
The broader NSE Nifty gained 22 points to 10,480.60
'Indian markets may initially react and follow the pattern of US and other global markets post US elections.'
Keep your mobile number and e-mail updated. When you receive the weekly report on cash holdings, check to ensure there is no discrepancy between the amount you have kept with the broker and what the latter has reported, advises Sanjay Kumar Singh.
Women from promoter families who have become directors since January this year include Sarala Birla (Century Textiles, Century Enka), Nawaz Gautam Singhania (Raymond Group), Bina Modi (Godfrey Phillips), Saroj Bhartia (Jindal Drilling & Industries) and Deepshikha Khaitan (Cera Sanitaryware).
Shares of IT company HCL Infosystems plunged over 7 per cent on Monday after its Managing Director and CEO Harshavardhan Madhav Chitale resigned from the company.
So far in 2017, the Nifty has gone up by 22.4 per cent.
Market players said the new norms were more suited for online brokers, where clients were typically internet savvy.
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
Subdued Asian and European markets due to escalating trade war between the US and China mainly led to caution on domestic bourses, brokers said.
A social stock exchange, broadly, is understood to be a platform that allows investors to buy shares, bonds or units in a social enterprise that has been vetted by the exchange. These allow firms operating in sectors such as health, environment and transportation to raise risk capital.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
The NSE and BSE made Rs 965.5 crore (Rs 9.65 billion) and Rs 135.2 crore (Rs 1.35 billion), respectively, in profits for FY14.
The scrip was the worst hit among the front-line companies on both the indices during the day.
Zero-debt Cairn India has $2.85 billion cash reserve.
The National Stock Exchange listed the Dow Jones Industrial and S&P 500 on its platform last week.
Ahmedabad, Delhi and Mumbai, which together make up 65% of national volumes, post decline in turnover in 2nd half of 2015.
During the meeting with Finance Minister Nirmala Sitharaman, it was also suggested that employees' provident fund should increase its exposure in the stock market, which in turn would improve liquidity.
The Securities and Exchange Board of India on Thursday proposed consolidation of regional bourses to form a bigger entity 'Indonext' or a merger with either BSE or NSE, as part of the ongoing capital market reforms.
In case of any grievance, file a complaint with Sebi on its SCORES (Sebi Complaints Redress System) web site, suggests Sanjay Kumar Singh.
At the close, the 50-share NSE Nifty was at 8,611.15, up 19.90 points, or 0.23 per cent, after moving between 8,637.15 and 8,555.20.
The 100-year old Calcutta Stock Exchange is finally set to launch a trading platform, which will enable its members to trade on National Stock Exchange (NSE)-listed securities in the next one month, a move that will give the ailing exchange a fresh lease of life.
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