Top laggards in the Sensex pack included HDFC, ICICI Bank, TCS, HCL Tech, Kotak Bank, Asian Paints, TechM and HUL, dropping up to 2.67 per cent.
Apprehending arrest after police summoned him for questioning in connection with the suicide by his supermodel girlfriend Viveka Babajee, stock broker Gautam Vora on Monday moved a Mumbai court seeking anticipatory bail.
Busting a major 'front running' case in the stock market, Sebi on Friday ordered impounding of unlawful gains worth nearly Rs 15 crore (Rs 150 million) from brokerage firm Sharekhan and 15 other entities.
Top gainers in the Sensex pack included Yes Bank, TechM, Bajaj Finance, Bharti Airtel, Maruti, Asian Paints and Hero MotoCorp - rising up to 5.30 per cent. The 50-share Nifty ended 85.65 points, or 0.79 per cent, higher at 10,948.25 points.
The market regulator had first proposed such a facility to alert investors about trades being conducted in their accounts in August 2011.
The government has received reports that tainted stock broker Ketan Parekh, barred from the capital markets till 2017 over a securities scam, is still active and has taken positions in oil PSUs like ONGC and HPCL.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
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.
After the massive price volatility in Shekhawati Poly-Yarn, listed in January, the counter of Omkar Speciality witnessed wild price movements within a couple of days of listing.
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.
Without giving specific details, Sebi said that SBI was being probed for 'alleged violation of regulations' contained in as many as 11 sections, sub-sections and clauses, including those related to the Code of Conduct, of the Securities and Exchange Board of India (Debenture Trustees) Regulations.
Why did model Viveka Bababjee die? A week after Viveka's suicide by hanging from a ceiling fan at her suburban Bandra residence, the mystery of her suicide not just hounds her family and friends, but also the Mumbai police which is investigating the case.
"Although extended market hours seems inevitable in the long run, current infrastructure and environment does not completely support the move."
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.
Justice Shalini Phansalkar Joshi, who presides over the special court set up for cases related to the 1992 securities scam, said in her judgment last week that there was no hesitation in holding that that the prosecution had failed to prove the case beyond reasonable doubt.
Since the Union Budget, gold has become costlier by 8-9 per cent because of a 2.5 per cent increase in import duty to 12.5 per cent and about a 5 per cent depreciation in the rupee.
A leading association of stock brokers today asked both Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) to maintain status quo on trading timings until the infrastructure required for extending the hours was in place.
But big brokerages see no problem with Sebi panel's recommendations.
In a relief to the family of late stock broker late Harshad Mehta, the Supreme Court has stayed the sale of the nine residential flats owned by him at Worli in Mumbai.
Stock broker Ketan Parekh, alleged mastermind of the securities scam of the 1990s, has moved the Supreme Court seeking permission to travel abroad for the treatment of his daughter.
Brokers said the Securities Transaction Tax regime and high stamp duty charges on share market transactions were the main reasons for the high cost of trading in India. As per the current STT rate structure, a delivery-based cash market transaction is taxed at Rs 12,500 per Rs 1 crore (Rs 10 million), or 0.125 per cent. The tax is levied on both buyers and sellers.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
Dollar's strength against some currencies overseas and firming crude oil prices also put pressure on the rupee, dealers said.
Applying for a loan? Check if you've paid your telephone bill or insurance premium first. Soon, your loan proposals will not depend only on your credit card and debt payment record with banks but also on whether you've paid your phone bill, insurance premium and stock broker dues on time.
FM has asked brokers to exercise self-regulation for capital markets and also advised them to corporatise. He has commissioned a World Bank study to suggest an effective model for India.
The Income Tax Department has moved the Bombay High Court to recover nearly Rs 500 crore from top stock brokers, who have managed to avoid paying income tax on the pretext of claiming depreciation on their Bombay Stock Exchange membership card.
Sixteen years after the stock market scam orchestrated by Harshad S Mehta, the custodian has put up eight apartments in a complex called Madhuli, which is occupied by his family in upscale Worli, for sale.
Several Ahmedabad-based stock brokers are playing a key role in arranging dummy investors. The 'investors' apply for their full quota of shares. After allotment, they transfer the shares to the accounts of the brokers fronting for the operators in exchange for a 2.5 per cent commission.
Why self-audit by NSE, why weren't charges probed under your supervision, ministry asks regulator.
Exchanges will have to facilitate a more direct interface between clients and the clearing corporation, bypassing intermediaries such as brokers, under this new proposed framework.
Karvy group's commodity broking arm, too, is facing a liquidity crisis because of some issues related to NCDEX, said people in the know.
The mish mash plot involving several caricature-like characters is a dud. Go only if you have nothing better to do.
According to stock brokers, the real pain in markets started with the over-zealousness on the part of stock exchanges in collecting margin money after the 700 points fall on January 18 and another 14,00 points fall on January 21. The trading terminals of nearly 90 per cent stock brokers were shut on Tuesday when the markets hit the lower circuit of 10 per cent within a few minutes of opening bell, as the National Stock Exchange doubled the margin money overnight.
The bears are likely to tighten their grip on the market in the short term, following hardening of interest rates by the Reserve Bank amid negative cues from global markets, say analysts.
The deal, sources say, is that the retail investor, subscribing on broker's behalf, would have to make an application for 225 shares, the entire cost of which -- considering the discount of Rs 20 a share that RPL has offered -- would come to Rs 96,750.
Emkay Share and Stock Brokers said that over the last couple of months, there has been a lot of disturbance in the telecom sector due to the regulatory issues on spectrum allocation, resulting in the gross under performance of the telecom shares.
The October 2008 landslide in stock prices, which caused a nearly 90 per cent drop in India's equity derivatives business, has dealt a severe blow to Asia's oldest bourse, the Bombay Stock Exchange.
The CBI filed the charge sheets against Parekh, Darmesh Doshi, Jatin S, Kirti Parekh, Kartik Parekh (all directors of companies held by Ketan) and chairman of Singapore-based Brentfield Holdings T L Chandran.
A deal, where a founder has brought back stake from early investors before an initial public offering, is unheard of in India or pretty much anywhere else, analysts pointed out.
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