A section of investors in Kolkata on Wednesday accused the National Stock Exchange of enforcing certain rules and regulations on investors that were "not approved by the Securities and Exchange Board of India."
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
Softening rural consumption and the likelihood of weak corporate earnings in the March quarter saw investors dump stocks.
After sinking 586 points during the day, the 30-share index ended 503.62 points, or 1.29 per cent, lower at 38,593.52. The broader NSE Nifty plunged 148 points, or 1.28 per cent, to 11,440.20.
There is little sense in trying to find stocks that will not be vulnerable in a situation where 87% of the market is trending down and India is getting set for a crucial election, says Devangshu Datta.
Sebi had, in February, dropped allegations of fraudulent and unfair trade practices against NSE's former heads Ravi Narain and Chitra Ramakrishna in the co-lo case.
Stay orders keep law out of citizen access even years after CIC rulings on opening market institutions to scrutiny
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
which currently does an average daily turnover of Rs 8,000 crore (Rs 80 billion) - almost twice that of the Bombay Stock Exchange - has been valued at $2.5 billion.
A 4-year study of nearly 300 companies listed on the National Stock Exchange of India found evidence of a positive and significant relationship between corporate governance practices and company performance, S&P said on Wednesday.
It pegs the value of these companies at Rs 2 lakh crore (Rs 2 trillion).
Please promise, especially those millions who trust you with their hard-earned money, never to let your voting preferences determine your actions on the markets. The most appalling and scary phenomenon was fund houses and brokerages going out on election yatras and writing copious reports promising more than 300 for the BJP. That was your wish as voters. Your investors are paying for it now, points out Shekhar Gupta.
Metal shares were the top gainers with Hindalco up over 5%.
Sunil Bharti Mittal, chairman and managing director of Bharti Tele-Ventures, sold 3,13,005 shares on March 9 and 24,36,995 shares on March 10 of his holding in the company.
Following the reduction in settlement cycle to T+2, the National Stock Exchange has introduced a 15-minute 'closing session' after normal market hours to provide investors opportunity to close their trading positions.
This was the biggest IPO in the Indian market since Infratel's.
Financial Technologies (India) Ltd on Monday alleged that the National Stock Exchange, which has kept it on the 'watch-list', was also attempting to remove the firm from the panel of software vendors.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
The first sign that shows a government is serious about an issue is when it appoints a high-powered committee to look into matters.
n the broader market, both the BSE Midcap and Smallcap indices, were up 1.2% and 0.7% each.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
Heightened volatility and lacklustre returns continue to make a dent in retail participation in the equities cash market segment. The percentage of retail participation in the average daily turnover in the National Stock Exchange's (NSE's) cash segment has come down to 40.8 per cent in February 2023, from 52 per cent a year ago. At the peak, retail investors accounted for nearly two-thirds of cash market volumes in July 2020.
'The market should maintain optimism on the back of range-bound oil prices, a robust fiscal balance sheet, a better-than-expected monsoon, and moderating inflation.'
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
The Securities and Exchange Board of India (Sebi) could soon issue interim orders imposing a market ban on the two former fund managers of Axis Mutual Fund (MF) for suspected front-running of trades, said people with knowledge of the development. "The market regulator has gathered prima facie evidence that demonstrates that the duo has violated the integrity of the market. "While a detailed investigation is still pending in the matter, Sebi could take action under Section 11 (4) to prevent further harm to the investors and the securities market," said a source.
It is the biggest issue we have ever faced in the securities market, where a sensitive and systemically important institution and first-line regulator was not only exploited by unscrupulous elements but functioned like a private fief, points out Debashis Basu.
Nandan Nilekani on how IT modernised India's stock exchanges.
The regulator is unhappy with the exchange in the market crash case that occurred in 2012.
Brokers have asked for a longer session on poll result day and an additional one on May 17
Taking lessons from that, I would think seamless digital payments is something you have to clearly have a roadmap for, the FM said.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
'The risk is in not being invested and missing out on an upmove.'
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
'Rather than abolishing stamp duty as STT is already levied on all transactions, the government has de-facto imposed a state STT in the guise of stamp duty'
Changes have been made in several indices including Nifty 500, Nifty 200, Nifty 100, Nifty Midcap 150, Nifty Smallcap 250 and host of sectoral indices including FMCG, IT, media, pharma, commodities and services sector.
In May 2019, Sebi had penalised the NSE as well as two of its former heads - Narain and Chitra Ramkrishna - for allowing Sampark to provide the dark fibre connectivity to stock brokers, despite not having the authorised licence. Dark fibre refers to an unused optical fibre used for high-speed connectivity.
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