Chinese brokers had been looking to use some of the cash they raised this year to expand their global reach
ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra were among the losers in the Sensex pack. NSE Nifty slipped 13.95 points to 17,355.30.
The NSE International Exchange (NSE IFSC) on Monday said trading in select US stocks will soon be facilitated through its platform. The Exchange will soon announce the operational details and will launch the product at the earliest possible time, NSE IFSC said in a statement. It further said depositories, banks and brokers have already started working with NSE IFSC to enable these investment products for Indian investors.
CBI has made substantial progress in the investigation into the NSE co-location case where markets regulator Sebi has found violations of norms by the stock exchange as well as some of its former top level employees, Finance Minister Nirmala Sitharaman said on Tuesday. The government and Sebi have received some complaints in the matter of NSE co-location. In a written reply to Rajya Sabha, the minister said that during the investigation into the matter, it was noticed that certain stock brokers got preferential access to the trading system.
Investor forum wants govt to take over exchange, raises doubts on claims of matching stocks; NSEL says default by brokers to be dealt with legally.
Linking all accounts is a difficult and costly task for brokers
At the time of filling the KYC (Know Your Customer) documents (when joining), do not sign wherever you are asked to. In particular, look closely at the power of attorney (PoA) section, experts tell Sanjay Kumar Singh
The response was overwhelming even though the members would have to pay a capital gains tax of 20 per cent on their stake sale.
Equity investors became poorer by over Rs 9.75 lakh crore in two days of heavy decline in the equity market, with the Sensex plunging 1,457 points on Monday. The 30-share BSE benchmark tanked 1,456.74 points or 2.68 per cent to settle at 52,846.70 on Monday. It had ended 1,016.84 points or 1.84 per cent lower at 54,303.44 on Friday.
Market regulator Sebi has begun initial probe into the 'flash crash' of NSE index Nifty, which fell by nearly 900 points this morning, halting the trade on the exchange for about 15 minutes.
Rising outgo towards clearing and settlement fees has led to an altercation between the BSE and the National Stock Exchange of India (NSE), with the latter striking down the former's request to lower the charges. NSE said it has no plans to restructure the same and that it will continue with the pricing defined under the interoperability framework. The interoperability framework, introduced in 2019, allows trades executed on any of the exchanges to be settled or cleared at either of the two clearing corporations -- NSE Clearing (NCL) or Indian Clearing Corporation (ICCL), fully-owned by the NSE and the BSE, respectively.
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.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
For starters, the morning meetings at brokerages have been advanced to 8-8.15.
An exchange which preaches others on governance must start practising it first, says Shyamal Majumdar.
Even as the MCX Stock Exchange and the Delhi Stock Exchange are hoping to launch equity trading on their platform soon, another Mumbai-based exchange, the Inter-connected Stock Exchange is set to follow suit.
Stockbroker Blue Chip Corporation Pvt Ltd (BCCPL), Nitin Rajaram Narke, Pravin B Darawade, Bhavana Chadha, Milestone Investment, Nitin Narke Investment, Blue Cheap Investment and Blue Chip Investment have been prohibited.
Investors of online brokerage house Zerodha on Monday said its users might face some problem while executing sell orders due to "an issue" related to depository CDSL. It tweeted, "You may face an issue with authorizing the sale of your stocks due to an issue with CDSL. "We are in touch with CDSL to have the issue resolved at the earliest."
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Investor confidence in unlisted shares was shaken after recent developments that saw online drugstore PharmEasy issuing new shares in a rights issue at a 90 per cent discount to its previous valuations and Reliance Retail's move to buy back and cancel shares held by public investors. Both stocks were, at one time, very popular in the unlisted market, with canny investors cornering them with the objective of benefiting from their listing. "Since investors have suffered losses on both counts, they will be careful when it comes to dealing in shares of unlisted companies," observes a broker dealing in unlisted shares, adding that there will be some rationality to the pricing.
Despite changes in rules, the exchange is not in a hurry
Fed up with lack of initiative from nominated representatives on the board for reviving the Calcutta Stock Exchange and stagnant business, a large number of brokers have begun surrendering their C-star terminals.
The markets are nearing the bottom and the worst will be over soon. That's the overwhelming mood among a range of brokers, research analysts and fund managers, according to a poll conducted by Business Standard on a day the Bombay Stock Exchange's benchmark Sensex shed 499 points to close below 13,000.
Ramesh Damani, stock broker, Bombay Stock Exchange, is known for prudent stock-picking. Though he prefers to be cautious while talking on individual stocks due to regulatory issues, in an interview with Business Standard, he drops a few hints about the current rally and the sectors he is betting on.
'It is like a chicken-and-egg situation.' 'All these product tweaks are innovative, but traders won't move unless there is liquidity.' 'And liquidity cannot be generated until traders move.'
The Securities and Exchange Board of India has cancelled registration of four National Stock Exchange brokers with immediate effect.
The chief metropolitan magistrate, S C Mishra, rejected on Thursday the bail petition of tainted stock broker Ketan Parekh and extended his judicial custody for another 14 days.\n\n\n\n
Consolidation is happening because of a prolonged slowdown in residential sales which has also brought down the business of brokerages.
These websites may shut shop soon.
In the last fortnight alone (September 1-17), the foreign institutional investors have made a net buy of whopping Rs 12,442 crore ($2.67 billion) in the Indian stock market, as per the data available with market regulator Securities and Exchange Board of India.
Kavita Chowdhury on the men and ideals behind the 'people's party'
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