The market cap of the listed firms on the Bombay Stock Exchange and the National Stock Exchange on Monday declined by a whopping Rs 125,000 crore (Rs 1250 billion) to Rs 43,75,020 crore (Rs 43750.20 billion), thereby falling below the GDP of Rs 46,93,000 crore (Rs 46930 billion) at current market price, as per the real economy data released by the Reserve Bank of India on April 28 this year.
After a volatile session, Sensex closed the day 563 points lower
The National Stock Exchange index Nifty gained 3.75 points at 4,572.30. It touched the day's high of 4,596.75 and a low of 4,528.50 points. Among the 30 Sensex stocks, 14 closed with losses while 16 gained. Overseas funds bought stocks of a net $146.6 million on July 23, taking total investments in equities this year to $6.57 billion.
Infrastructure Development Finance Company Ltd managing director and chief executive officer Rajiv B Lall has sold 4.50 lakh (450,000) shares of the company for over Rs 6.3 crore (Rs 63 million) in an open market transaction.
The move is part of a surveillance review to safeguard interest of investors in the capital market.
IndusInd International Holdings chairman Ashok Hinduja on Tuesday announced the acquisition of Reliance Capital, completing the three-year-long resolution process of the debt-ridden company. IndusInd International Holdings Ltd (IIHL) has transferred the bid amount to the escrow account of the lender, and the takeover of the management from the Administrator will happen on Wednesday.
Piramyd Retail shares opened at the Bombay Stock Exchange on Monday at Rs 146 against an issue price of Rs 120.
AT&T Inc, the largest telecom services provider in the US, has acquired an 8.07 per cent stake in Pune-headquartered Tech Mahindra for $34.5 million (around Rs 160 crore) by exercising a 2005 option agreement to buy a stake in the company. Its stake at Tuesday's prices on the Bombay Stock Exchange (BSE), however, is worth around Rs 900 crore.
The Bombay Stock Exchange benchmark Sensex crossed the 21,000 level in early morning trade for the first time on Tuesday on heavy buying by funds.
Last Friday's tumble on Wall Street, with the Dow Jones index falling nearly 400 points, is sure to have its repercussions on the already shaky Indian market. With both the benchmark indices, the Bombay Stock Exchange Sensex and the National Stock Exchange Nifty having lost 5 per cent apiece last week, investors are already skittish.
In a bid to provide the retail investors quick access to corporate information, Bombay Stock Exchange and the National Stock Exchange
'While Indian markets are indeed not inexpensive, the valuations of largecap stocks are still a considerable distance from being overstretched.'
The cash pile within smallcap mutual fund (MF) schemes has grown over the past few months amid a relentless rally in stocks in this space. While fund managers usually don't make cash calls, incessant inflows and valuation discomfort have forced their hand. At the end of January, the top 10 schemes had over Rs 12,160 crore in cash, compared to Rs 8,700 crore in August 2023.
The country's largest real estate player, DLF, on Friday said it has approached the government for surrendering four of its IT-ITeS notified special economic zones (SEZ).
The Bombay Stock Exchange and the National Stock Exchange have extended the trading timings in equity and equity derivative segments by nearly an hour to 9 a.m., effective from Friday.
New York scores top marks for its economy as well as research and development, while London is judged to be the world's cultural capital. Paris is number one for livability and accessibility. Geneva, Zurich and Vienna are praised for their ecology and natural environment.
The Securities and Exchange Board of India has cancelled registration of four National Stock Exchange brokers with immediate effect.
On the NSE, Oil India opened with a premium of 4.38 per cent at Rs 1,096. The stock then climbed to Rs 1,127 a piece before skidding to Rs 1,090.
The National Stock Exchange and Bombay Stock Exchange will hold a two hour trading session on Saturday to enable the NSE to test a back-up trading system, exchange officials said on Wednesday.\n\n\n\n
Such brokers connect buyers to sellers, taking a commission on the deal.
Former Reserve Bank of India Governor Duvvuri Subbarao has said the central bank could lose control over money supply and inflation management if cryptocurrency is allowed in the country. Speaking at a webinar organised by the National Stock Exchange (NSE) and New York University (NYU) Stern School of Business, Rao also said India's case for issuing a central bank digital currency (CBDC) may not be strong as there are capital controls. "Crypto is backed by algorithms and there is fear that the central bank might lose control over money supply and inflation management.
Questions sent to CFSL director Rajiv Giroti and Directorate of Forensic Sciences remained unanswered.
A section of senior stocks brokers on Thursday demanded that the Sebi probe the reasons behind the steep decline in share prices on May 17 by analysing the trade data at the BSE and NSE and punish the guilty severely.
Equity mutual fund (MF) schemes have raked in Rs 46,200 crore in net lump-sum inflows in the past six months (ended February 2024), almost thrice the inflow in the previous six-month period.
UTI Mutual Fund recently launched Gold Exchange Traded Funds and many more companies plan to follow suit. Get the lowdown.
Fortis Healthcare plans to raise about Rs 504 crore (Rs 5.04 billion) from the capital market in addition to the Rs 154 crore (Rs 1.54 billion) raised through private placements before the IPO, a top company official said in Mumbai on Wednesday.
The 50-share National Stock Exchange index Nifty shot up by 44.80 at 4,568.55, after moving between 4,578.75 and 4,504.85 points during the day. The upsurge was maintained by Maruti Suzuki, which raced to an all-time high a day after the leading carmaker reported a 25 per cent jump in quarterly profit on higher sales and lower raw material costs.
The 50-share National Stock Exchange index Nifty also shuttled between 4,524.00 and 4,436.60, before winding up at 4,469.10, showing a net loss of 33.15 points. The information technology sector, which led the upsurge in Tuesday's trading, suffered the most, losing 1.74 per cent to 3,694.03, as segment major Infosys and Tata Consultancy dropped on profit booking.
The improvement in the performance of actively managed mutual fund (MF) schemes is acting as a key tailwind for the nearly Rs 50 trillion industry, Kotak Institutional Equities (KIE) said in a report. The report adds that the two largest listed asset management companies (AMCs) - HDFC and Nippon India - are likely to be the biggest beneficiaries. "The industry has a solid track record of delivering alpha on 10-year returns (70-80 per cent of assets under management (AUM) beat the benchmark), with shorter duration performance also on an upswing.
The equity firm has signed a definitive agreement to acquire 2.11 per cent stake for a consideration of about Rs 252 crore (Rs 2.52 billion) in the National Stock Exchange of India Ltd, Norwest Venture Partners said. This would be the first FII investment under new policy subject to the regulatory approval, it said.
The market will open at 18:15 hours and will close at 19:15 hours.
Two individuals filed the petition in the high court of Andhra Pradesh
From the 30-share Sensex pack, Sun Pharma, Reliance Industries, Infosys, Tata Motors, Infosys, Titan, Maruti and NTPC were among the major laggards. Mahindra & Mahindra, Tech Mahindra, HCL Technologies and IndusInd Bank were the gainers.
IL&FS Financial Services has acquired 14.5 per cent stake in Maytas Infra, promoted by former Satyam chairman B Ramalinga Raju's kin, through invocation of pledge and off-market transactions.
The agency was probing the rotation of funds and the role of front companies used in rotation of funds, sources said. They added that the conduct of the regulators was also being probed and, if need be, some officials may also be probed. Experts, including CAs from the Institute of Chartered Accountants of India and the Institute of Cost and Works Accountants of India are assisting the CBI in probing the role of regulators in this case.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
