The Bombay Stock Exchange Ltd, India's oldest stock exchange launched mobile-based trading on Monday through its 33 leading brokers, a senior Exchange official said.
The Tamil Nadu-based broker is member of commodities exchange from Dharapuram, some say bonds are most likely to be fake.
The Bombay Stock Exchange on Wednesday put in place a graded penalty mechanism, with fines starting from Rs 10,000 for brokers who fail to make timely submission of risk-based supervision data and prolonged non-compliance leading to disablement of trading terminals.
The Central Bureau of Investigation on Thursday filed chargesheets against late stock broker Harshad Mehta and two brothers at a designated court in Mumbai in the mysterious missing of 2.7 million shares belonging to about 70 companies.
Shares of Motilal Oswal Financial Services, Edelweiss Financial Services and IIFL Holdings have all doubled in the past one year against the Sensex's 23 per cent gain.
Carter was in politics, but not a politician, certainly not a transactional politician, points out Shreekant Sambrani.
Taking its price war with main rival National Stock Exchange (NSE) up a notch, the Bombay Stock Exchange (BSE) has announced the waiver of all transaction charges for brokers from semi-urban areas with effect from next month.
A key demand is to reduce the dividend distribution tax on listed firms.
Capital markets regulator Sebi Chairman U K Sinha advocated the listing of bourses and greater competition among exchanges.
The National Stock Exchange (NSE) of India is going to indefinitely defer the internal deadline set for extending trading hours, according to sources in the know. The exchange aimed to introduce a three-hour evening session exclusively for index derivatives by March 2024, contingent upon regulatory clearance from the Securities and Exchange Board of India (Sebi). Sources indicate that the market regulator has not provided a favourable indication, dimming optimism surrounding the proposal.
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
The surge in the stock market has failed to stem the trend of small-sized brokers shutting operations.
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.
The stock markets need not be an enigma - use resources at your disposal
Brokers od bothe the Bombay Stock Exchange and National Stock Exchange on Tuesday demanded a single transaction tax on securities for only foreign institutional investors and non-resident Indians and asked Finance Minister P Chidambaram
The Indian equity market clocked record average daily turnover (ADTV) in both the cash and derivatives segments in February amid a spike in volatility. The ADTV for the cash segment for both the exchanges combined came at Rs 1.27 trillion, while the same for the derivatives or the futures and options (F&O) segment stood at Rs 483 trillion in the previous month. The volumes for both cash and derivatives have almost doubled from a year ago on the back of rising retail participation in the world's fourth largest equity market.
'Liquid ETFs help in cash management by enabling a smooth transition between equity and cash within the same settlement cycle, as they trade in the same segment as equity.'
According to sources, the market regulator is planning to introduce colour forms for client registration in a bid to stop brokers from making changes after a client has filled up the form. Currently, there are boxes each for cash derivatives and debt, and investors have to indicate whether they want to trade in the cash market or futures and options. In some cases, brokers themselves click on the derivatives option without the permission of the client.
Equity benchmarks ended modestly higher on Friday after the Reserve Bank raised the key interest rate in an effort to cool stubbornly high inflation and defend the rupee. Continuous foreign fund inflows into the capital markets and softening crude oil prices also helped the bourses regain momentum, traders said. The 30-share BSE Sensex ended 89.13 points or 0.15 per cent higher at 58,387.93 after facing volatility during the fag-end of trade. During the day, it climbed 350.39 points or 0.60 per cent to 58,649.19. The broader NSE Nifty went up by 15.50 points or 0.09 per cent to finish at 17,397.50.
Besides, the capital market regulator would ask all the market entities, including brokers and mutual funds, to implement the new common know your client norms even for their existing clients in a phased manner.
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
'If you see another 1000-point correction, people may start panicking.'
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Capital markets regulator Sebi has tweaked peak margin rules which will bring huge relief to traders and brokerage houses that have been incurring high margin penalties so far, experts said on Wednesday. Under the new framework, the beginning of the day margin will be considered as peak margin. This is only in respect of the collection of upfront margin. The peak margin rule that was implemented last year restricted brokers' ability to fund clients' intraday positions.
Smaller players may find it difficult to bear the costs associated with such a requirement.
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.
After the Bombay Stock Exchange (BSE) Brokers Forum, the Association of National Stock Exchange Members of India (ANMI) has decided to approach the government and the Securities and Exchange Board of India (Sebi) on extension of trading hours from January 4.
Regulator proposes mutual fund model for infrastructure debt funds.
India's stock exchanges have decided to jointly introduce the T+1 settlement cycle in phases from February 25, beginning with the bottom 100 stocks by market capitalisation. From March 2022, on the last Friday (or the immediate next trading day) of every month, the next 500 stocks from the bottom will be subject to T+1 settlement. The phase-wise implementation is expected to give all market participants, including foreign portfolio investors (FPIs), ample time to shift to the shorter cycle. The settlement cycle represents the time period within which the stock exchanges have to settle security transactions.
This was a fresh probe based on the inspection of certain derivative contracts both on the BSE and NSE.
The regulator has decided to allow registered brokers (including trading members) of stock exchanges to provide security market access to their clients through authorised persons. The regulation follows the recommendations made by the Secondary Market Advisory Committee of Sebi and discussions with the stock exchanges.
Within the next 3 months, most brokers will enable you to intelligently invest via mobiles in MFs, FDs, and IPOs.
Leading stock exchange BSE has initiated a process of putting in place a new risk-based model for supervision of market entities including brokers, taking forward a new model proposed by regulator Sebi in this regard.
The government has imposed anti-money laundering provisions on cryptocurrencies or virtual assets as it looks to tighten oversight of digital assets. In a gazette notification, the Finance Ministry said the anti-money laundering legislation has been applied to crypto trading, safekeeping and related financial services. After this, Indian crypto exchanges will have to report suspicious activity to the Financial Intelligence Unit India (FIU-IND).
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