ONGC was the top loser in the Sensex pack, followed by HCL Tech, SBI, ICICI Bank, IndusInd Bank, Hero MotoCorp and M&M.
The CBI has arrested Sanjay Gupta, owner and promoter of Delhi based OPG Securities Pvt. Ltd, in connection with the NSE co-location scam in which brokers allegedly abused the facility to make gains by getting early access to the stock market, officials said on Wednesday. The agency has already arrested Chitra Ramkrishna, former CEO and managing director of NSE and Anand Subramanian, former group operating officer of the market, they said. Gupta was arrested on Tuesday night, four years after the agency had registered the FIR in the Co-location scam case against him and his company.
Top gainers in the Sensex pack were Tata Motors, ONGC, Yes Bank, IndusInd Bank and Vedanta -- rising up to 2.71 per cent.
Do you think financial or corporate crimes are on the rise in India? What would you say is the cause for these scams: lack of monitoring, corruption in high places, pure greed.? Tell us what you think.
A Kolkata court on Thursday rejected the bail application of leading stock broker Ketan Parekh and extended his judicial custody till April 19.\n\n\n\n
The last time a bear attack was launched on a controversial businessman was when a cabal of brokers launched an assault in the early 1980s on what they thought was an over-priced Reliance share, recalls T N Ninan.
Because they have become too big and pervasive and the time to regulate is long gone, points out Debashis Basu.
There is no sure-shot formula to succeed in the stock market.
To make its stock market investments transparent and avoid further controversy, Life Insurance Corporation (LIC) has discontinued deals that were first negotiated over the telephone and then executed on the stock exchange platform, according to brokers familiar with the matter.
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As home deals are down to a trickle, most are looking at life beyond broking.
While Geojit Financial Services and Kotak Securities are already managing large NRI portfolios in West Asian countries, Sharekhan, yet another local brokerage outfit, recently launched a broking platform called India First in Bangkok for NRI clients.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
According to Rahul Rege, business head (retail) at Emkay Global Financial Services, it is difficult to track more than 10 stocks.
Mumbai stock broker Ketan Parekh, in custody for about four weeks now, is planning to move the Supreme Court next week for bail after his prayer was rejected by the Calcutta high court.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Dogged by brokers' interference, exits at the top and clash of opinions, regional stock exchanges still struggle to launch their trading platform.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Why self-audit by NSE, why weren't charges probed under your supervision, ministry asks regulator.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
Sources said non-banking financial companies of brokerage outfits had extended loans to clients by availing of bank credit. They could face serious trouble if auditors 'qualify' their books for extending loans on small- and mid-cap stocks as 'highly risky'. With just over a week to go before the end of the current financial year, most of the NBFCs are cleaning up their books before the audit to avoid being caught on the wrong foot.
Delhi Stock Exchange's (DSE) struggle to end its life without hurting the diverse interests of its multiple stakeholders will continue into another year.
Top losers in the Sensex pack were Hero MotoCorp, HCL Tech, TCS, Asian Paints, IndusInd Bank and Infosys, shedding up to 3.08 per cent.
The state with the most people has displaced the state with the largest economy in terms of investor additions. Uttar Pradesh (UP) added 126,000 new investors in April, reveals National Stock Exchange (NSE) disclosures. This is higher than Maharashtra's 118,000. Maharashtra, which is home to India's financial capital of Mumbai, has traditionally been the biggest source of investors.
As markets complete the first half of the calendar year 2022 (CY22) with a fall of around 9 per cent, the interest-rate hike trajectory by global central banks, paired with the conundrum of inflation and growth, will move the needle for the market, observe experts. Here's a quick rundown on what they'll react to over the next six months.
The Enforcement Directorate has recently recorded the statement of former NSE managing director and chief executive officer Chitra Ramkrishna, lodged inside Delhi's Tihar jail, as part of a money laundering investigation against her and others, officials said Tuesday. The proceedings for recording the statement were conducted on two occasions inside the jail. The statement has been recorded under the criminal sections of the Prevention of Money Laundering Act (PMLA), they said. Ramkrishna is lodged in the Tihar jail after she was arrested by the Central Bureau of Investigation (CBI) on March 6 in the alleged National Stock Exchange (NSE) co-location scam case and investigation linked to other governance irregularities at the bourse.
Overseas investors, as well as other key stakeholders, such as brokers, custodians, and clearing corporations, are yet to iron out critical issues, even as the shift towards a shorter trade settlement cycle approaches new phases. Several industry players said foreign portfolio investors (FPIs) are still facing impediments over the trade confirmation timelines, foreign exchange (forex) bookings, and pre-funding requirements. This could potentially act as a roadblock when it comes to moving entirely to the new T+1 settlement cycle from next year.
Close on heels of the launch of Gift Nifty (earlier SGX Nifty), domestic exchanges are pushing for extension of trading hours for the onshore derivatives market, said sources. Bourses are waiting for a final approval from market regulator Sebi on the proposal to keep the derivatives market open for longer hours, they said. The move is aimed at attracting more trading members for onshore futures and options (F&O) contracts amid risk that global investors could prefer trading at Gift City given the tax benefits.
Markets regulator Securities and Exchange Board of India (Sebi) is examining allegations of front-running and other irregularities against a host of domestic fund managers across the asset management industry, said people in the know. Developments at Axis Mutual Fund have prompted the regulator to speed up probe to ensure that there is no drop in confidence in the Rs 39-trillion mutual fund (MF) industry. "We have received complaints against a few fund managers and are looking into possible violations, including those related to code of conduct," said a regulatory source, refusing to divulge names of fund houses as things are at a preliminary stage.
Our stock exchanges no longer belong to one state or one community.
The Financial Industry Regulatory Authority has fined Citigroup $650,000 for violation of disclosure and supervisory norms involving a stock borrow programme.
Yes Bank topped the gainers' list on the Sensex. It was followed by HDFC, Bajaj Finance, HDFC Bank, ICICI Bank, L&T, SBI, Axis Bank and Kotak Bank -- rallying up to 5.24 per cent.
Sell decisions are as crucial as 'buys' for good stock investing. Five spotting rules.
The broader NSE Nifty reclaimed the key 10,000-mark and touched a high of 10,143.50 before finally settling at 10,130.65
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Since 2016, Sebi has made many rules to prevent unauthorised trading by stockbrokers. Yet, one comes across dozens of cases of blatant overtrading in client accounts, every year, leading to massive losses to investors, observes Debashis Basu.
After the finance minister directed public sector banks to join the account aggregator (AA) ecosystem, 5-6 major ones, including State Bank of India (SBI) and Bank of Baroda are expected to go live by July-end. Sahmati, an industry alliance for the AA ecosystem, has been working with PSU banks to get them onboarded for quite some time now. So far, Union Bank of India and Punjab National Bank (PNB) have gone live on the AA ecosystem. While Union Bank has been live for a while, PNB went live earlier this month.
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