The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
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Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Sebi has asked intermediaries to stagger the offerings as much as possible, said people in the know and ensure adequate capacity building.
Operator syndicate could be behind stock hammering, suspects regulator.
The BSE benchmark Sensex rose 192 points to end at 39,250 on Sunday as investors built up fresh positions in the special Muhurat trading session to mark the beginning of Hindu Samvat year 2076.
An appreciating rupee, unabated buying by domestic institutional investors (DIIs) and encouraging earnings by blue-chips contributed to the uptrend
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The 50-share NSE Nifty ended 56.60 points, or 0.55 per cent, higher at 10,322.25
The broader NSE Nifty too fell over 150 points to crack below the 10,400-mark as financials, IT and energy stocks declined.
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'As valuations of large-caps appeared to be out of whack, investors started lapping up quality mid-caps and small-caps, which were available at relatively comfortable valuations.'
Investors turned cautious as trade war concerns between the US and China escalated and a persistent weakness in the rupee became lingering concerns leading to volatility in the market
The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35
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The broader Nifty finished at 10,421.40, up 194.55 points, or 1.90 per cent.
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The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
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The benchmarks logged the first weekly loss in three weeks.
Power, realty, FMCG, consumer durables, metal, infrastructure, PSU and oil and gas and banking stocks emerged front-runners on sustained buying by participants.
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'It is critical that the Covid curve does not have a fat tail and the chain is broken quickly.'
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However, the tribunal directed the bourse to deposit Rs 625 crore with Sebi in two weeks.
On May 16, the leads will start trickling in from morning but the final result is likely to come only after 3.30 pm, beyond trading time for the equities segment in India.
Sebi suggests there should be checks on the quantity ordered and the margin available with the exchange, indicating brokers' exposure limits.
Yet another surgical strike? India's Osama bin Laden moment? A fresh demonetisation exercise? What could it possibly be?
Late selling in blue-chips like Reliance Industries, ITC, Infosys, TCS and Bharti Airtel dragged down the index from the record level to close flat.
The broader 50-issue NSE Nifty slipped from its record closing, shedding 2.30 points or 0.02 per cent to end at 11,132.00.
The Nifty too slipped below the psychologically important 11,000 mark.
Shahs also said that his party will strive to rid the state of its 'Bimaru' tag as development is the way forward in Indian politics now.
Investors started booking profit at record highs in absence of cues from global markets that remained closed for the New Year holiday.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
Optimistic buying in blue-chip stocks ahead of release of industrial production data for July and retail inflation for August drove stocks higher.
The rupee fell back sharply against the pound sterling at 83.28 from Monday's close of 82.49 and also reacted downwards against the euro to 71.59 from 71.29.
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Brokers have till Friday to submit half their shares.