Posts in category Business Standard
FPI sell-off continues; Rs 3,400 cr pulled out in just 3 sessions in Nov (05-11-2023)
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East.
This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed.
Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Going forward, this selling trend is unlikely to continue since the main trigger for FPI selling, the rising bond yields, has reversed on the US Federal Reserve signalling a dovish stance in its November meeting.
"The main trigger for this reversal in bond yields is the subtle dovish commentary from Fed chief Jerome Powell that 'despite elevated inflation, inflationary expectations remain well anchored'. The market has interpreted this statement
Q2 earnings, global trends, trading activity to drive market: Analysts (05-11-2023)
The ongoing quarterly earnings report card of corporates, global trends and trading activity of foreign investors are key factors to drive the momentum in the equity markets this week, analysts said.
Moreover, markets would also focus on global oil benchmark Brent crude and the rupee-dollar trend.
"On the domestic front, the upcoming release of Q2 earnings report is expected to have a significant influence on market sentiment. If FIIs (Foreign Institutional Investors) shift to net buying, it could further propel the market's upward movement," Swastika Investmart Ltd Head of Research Santosh Meena said.
While geopolitical concerns persist, they have had limited impact on the market's overall trajectory, Meena said, adding that the resilience of global markets will be crucial in determining the sustainability of this positive momentum.
From the macroeconomic front, the industrial production data is scheduled to be announced on Friday after market hours.
"Global and domestic ...
10 arrests made so far: Himachal Pradesh Dy CM Agnihotri on Crypto fraud (04-11-2023)
Himachal Deputy CM further appealed to the people not to invest in such frauds when even SEBI did not give clearance
Over 300 crypto fraud complaints received, will take action: Himachal Dy-CM (04-11-2023)
More than 300 complaints have been received from across Himachal Pradesh in connection with a multi-crore cryptocurrency ponzi scam, Deputy Chief Minister Mukesh Agnihotri said, referring to the fraud that began in the state in 2018.
He had presided over a meeting on Friday to review the action being taken against the perpetrators, who cheated people by promising them high profits on investments within a short span of time, an official statement said.
People should guard themselves from falling prey to such ponzi schemes and cryptocurrency frauds, Agnihotri said.
"I am observing that complaints have been pouring in from various districts of the state wherein people have been cheated by the kingpin of the cryptocurrency fraud," he said, according to the statement issued on Saturday.
He added that more than 300 complaints have been received by the police till date.
Ten culprits from Mandi and two from Una have been arrested so far in connection with the case, Agnihotri said. Subhash
Gold price unchanged at Rs 61,750; silver unchanged at Rs 74,800 per kg (04-11-2023)
The price of 22-carat gold was the same as yesterday, with the yellow metal selling at Rs 56,600
ESAF SFB IPO subscribed 1.74 times; Upstox settles matter with Sebi (03-11-2023)
Sebi had issued a showcause notice to the stockbroker in January 2022 for alleged violations of the cyber security and cyber resilience framework
Bonds are looking attractive and set to beat cash, says Goldman Sachs (03-11-2023)
Goldman Sachs strategists see 10-year Treasury yields at around 4.6 per cent over the next 12 months, just below their current level after this week's sharp fall
From IRFC to Polycab India, eight stocks move up the ladder to largecap (03-11-2023)
Shriram Finance, Union Bank of India, Indian Overseas Bank, Rural Electrification and Power Finance are the other stocks in pole position to make it to the large-cap universe
Protean eGov Technologies raises Rs 144 crore from anchor investors (03-11-2023)
The price band for the IPO is Rs 752-792 per share. Allotment to anchor investors was done at Rs 792 apiece. At the top-end, Protean is valued at around Rs 3,200 crore
ESAF Small Finance Bank IPO subscribed 1.74 times on first day of offer (03-11-2023)
The initial public offer of ESAF Small Finance Bank got subscribed by 1.74 times on the first day of subscription on Friday.
The Rs 463-crore initial share sale received bids for 10,02,26,500 shares against 5,77,28,408 shares on offer, as per NSE data.
The category for non institutional investors got subscribed 2.44 times while the quota for Retail Individual Investors (RIIs) received 1.97 times subscription. The portion for Qualified Institutional Buyers (QIBs) was subscribed 90 per cent.
The Initial Public Offering (IPO) has a fresh issue aggregating up to Rs 390.7 crore and offer for sale (OFS) of up to Rs 72.3 crore.
The IPO will conclude on November 7.
Those selling shares in the OFS are promoter ESAF Financial Holdings Private Ltd, and other shareholders -- PNB MetLife India Insurance Company Ltd and Bajaj Allianz Life Insurance Company Ltd.
Proceeds of the fresh issue will be utilised to augment the bank's Tier-1 capital base.
Price range for the offer is at Rs 57-60 a ..