Trade Financial News

Mumbai: Spare a thought this Diwali for stockbrokers and their staff—they’re feeling a little less cheery this festive season. Blame it on T+0, also known as same-day settlement, and other reforms. Every year, the start of the Hindu calendar year is marked by the Muhurat trading session, a bit of Diwali ceremony carried over from the days of open outcry. Brokers and their employees had asked the BSE and NSE to advance the hour-long session to 10-11 in the morning from the traditional 6-7 pm, as this would allow them to complete post-trading operations by noon and give them enough time to celebrate Diwali with their families on Lakshmi Puja. That request has been rejected by the exchanges, according to people with knowledge of the matter.

interest rate cuts. Stocks moved between losses and gains in Japan and South Korea, with those in Australia modestly higher. Futures pointed to gains in Hong Kong. US contracts were flat after the S&P 500 closed little changed. Treasury 10-year yields hovered near 4.2% after topping that level for the first time since July.

Sebi's whole-time member Ashwani Bhatia said on Tuesday, while cautioning investors about the risk associated with complex financial instruments. «F&Os cannot be and should not be a national pastime which actually means that savings of retail participants move into the pockets of institutional hands,» Bhatia said while speaking at an event here.

City Union Bank (CUB) after the better-than-expected second-quarter results. The price targets imply a 1-19% rise in the stock over its Tuesday closing price of ₹168.5. City Union Bank shares rallied 11.9% on Tuesday in a weak market in response to the September quarter earnings.

Bajaj Finance, SBI Life, HUL, Adani Energy, Fedbank Financial among others will be in focus due to various news developments and second quarter results. SBI Life, HUL, Bajaj Finserv Shares of SBI Life, HUL and Bajaj Finserv will be in focus as the companies will announce their quarterly results for the July-September 2024 period.

Mumbai: India’s stock market slumped on Tuesday as continued selling by foreign investors, amid concerns over slowing earnings growth, heightened risk-off sentiment. The selloff was broad-based with mid-cap and small-cap stocks bearing the brunt of the souring mood among investors, resulting in flight of money to safe-haven assets such as gold, which extended its record-breaking streak. The NSE Nifty fell 309 points, or 1.25%, to close at 24,472.10. The BSE Sensex declined 930.55 points, or 1.15%, to end at 80,220.72. Out of the 50 shares on the Nifty, 47 ended lower, while three notched up gains.

«The outlook suggests further downside, particularly in the midcap and smallcap spaces. On the index front, the next major support is around 24,000, with potential resistance between 24,700 and 25,000 in case of a rebound. We recommend adjusting trades accordingly and advise against adding to losing positions,» said Ajit Mishra – SVP, Research, Religare Broking.

certificates of deposits (CDs) jumped 69% on-year to ₹5.58 lakh crore in FY25 up to October 4, as lenders turned to short-term debt instruments for their funding needs instead of raising deposit rates and facing pressure on net interest margins. In its October bulletin, the Reserve Bank of India (RBI) said primary market issuances of CDs by banks were at ₹5.58 lakh crore from April 1 to October 4. The RBI noted that banks preferred to bridge a funding gap through short-term debt instruments «rather than raising deposit rates.» Banks have faced pressure to mobilise funds through various avenues over the past couple of years as credit growth has outpaced deposit growth, although the extent of the wedge between the two has narrowed over the last couple of months. As on October 4, bank credit growth was at 14.1% year-on-year, while deposit growth was at 12.2% over the same period, RBI data showed.

Adani Energy Solutions Tuesday said it received a show cause notice (SCN) from the Securities and Exchange Board of India (Sebi) during the September quarter for wrongful categorisation of shareholders. Without disclosing further details, the company mentioned the receipt of the SCN in its exchange filing for the September quarter results.

Sebi) on Tuesday said all transactions in mutual fund units of an asset management company exceeding ₹15 lakh executed by designated persons, trustees and their immediate relatives must be reported to the compliance officers within two days from the date of such transactions. The regulator said threshold amount of ₹15 lakh could be in one transaction or a series of transactions over any calendar quarter, per PAN across all schemes excluding the exempted ones. Fund houses would have to disclose details of holding of designated persons, trustees and their immediate relatives on an aggregate basis every quarter. The new rules will come into effect from November 1. The holdings as of October 31, 2024, should be disclosed on the platform of the stock exchanges by November 15, 2024.

weak debut on the bourses with the stock opening at ₹1,931 on Tuesday, over 1% below its Initial Public Offer (IPO) price of ₹1,960. The stock ended at ₹1,820.40, 7.1% below the issue price, continuing the first-day weak show trend among large IPOs. Hyundai's ₹27,870 crore IPO last week was the largest ever in India's primary market.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...

A journalist and copywriter with a decade's experience across music, video games, finance and tech.

A journalist and copywriter with a decade's experience across music, video games, finance and tech.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Sebi has restrained Onelife Capital Advisors, its promoters — Pandoo Naig and Prabhakara Naig — from securities markets till further orders for alleged fund diversion and misrepresentation of the company's financials. The regulator also restrained Naigs from acting as a director or key managerial personnel of any listed company, which intends to raise money from the public or any Sebi-registered intermediary until further orders. In the interim order cum show cause notice passed on Monday, the markets watchdog directed Onelife Capital Advisors Ltd (OCAL) and Naigs to show cause as to why suitable directions/prohibitions should not be issued against them.

Shoppers Stop on Tuesday reported a consolidated net loss of Rs 20.59 crore in the second quarter ended September 30, 2024 on account of muted demand. The company had posted a net profit of Rs 2.73 crore in the July-September period a year ago, according to a regulatory filing from Shoppers Stop. However, its total income was up 7.13 per cent to Rs 1,124.62 crore during the quarter under review. It was Rs 1,049.70 crore a year ago.

electric vehicles will have «far-reaching» impacts on investment, production, international trade and employment, the International Monetary Fund said on Tuesday as part of its update to global economic growth forecasts. The analysis was included in the IMF's latest World Economic Outlook, which was released as policymakers meet at the IMF and World Bank annual meetings this week to discuss efforts to boost global growth, deal with debt distress and finance the green energy transition. «The rising adoption of electric vehicles represents a fundamental transformation of the global automotive industry. It will have far-reaching consequences,» the IMF said.