On 24 September 2024
Posts in category Business Standard
Board of Fedbank Financial Services approves change in directorate (24-09-2024)
At meeting held on 24 September 2024
SEBI study exposes massive losses for individual F&O traders in India (24-09-2024)
While foreign portfolio investors (FPIs) and proprietary traders reaped profits, individual traders bore the brunt of these losses. In FY24 alone, individuals incurred a net loss of approximately Rs 75,000 crore.
Indices end flat amid volatility, China stimulus boosts metal stocks (24-09-2024)
The domestic equity benchmarks closed nearly flat on Tuesday after a volatile session. The benchmarks Sensex and Nifty indices reversed trend after briefly crossing 85,000 and 26,000, respectively. The Chinese central bank’s rate cut and additional stimulus measures positively impacted global investor sentiment, leading to gains in metal stocks. IT and energy stocks also rose. However, PSU banks and FMCG shares declined.
Sebi simplifies process of registration for certain FPI categories (24-09-2024)
To ease onboarding for FPIs and reduce duplication of information, Sebi on Tuesday proposed an abridged version of Common Application Form (CAF) that only requires information unique to the applicant.
Further, the rest of the information will be auto-filled from the depository’s records or certain fields will be disabled if not needed.
Also, the applicants will need to confirm that the previously provided information remains unchanged, Sebi proposed in its consultation paper.
The regulator observed that in case of certain categories of Foreign Portfolio Investor (FPI) applicants like multiple funds under an Investment Manager (IM), sub-funds of a master fund, or schemes of insurance companies, much of their relevant information is already captured in depositories’ CAF module, which can be leveraged without seeking the same from said applicants.
Further, there are certain fields which are exclusive to individual FPI applicants and hence will not be applicable to the applicants …
Japanese yen at three-week low versus dollar; BoJ seems to be in no rush to hike rates (24-09-2024)
The Japanese yen slipped to a near three week low against the dollar on Tuesday as the US currency regained some ground after having slipped to a 14 month low in recent days after US Fed went ahead with a 50bps rate cut and sighted further cuts for the year ahead. Additionally, concerns that the Bank of Japan (BoJ) is not hurrying to raise interest rates further dampened the Japanese currency. BoJ Governor Ueda stated that Japan’s real interest rate remains deeply negative, stimulating the economy and working to push up prices. He also said that “they will raise interest rate if the economy, prices move in line with forecasts shown in quarterly outlook report. Currently, the USDJPY pair is quoting at 144. The yen is down half a percent on the day against the dollar and at its lowest level in 3 weeks.
Manba Finance IPO subscribed 73.18 times (24-09-2024)
The offer received bids for 64.39 crore shares as against 87.99 lakh shares on offer.
Surveys have progressively increased satisfaction rating of GST by users (24-09-2024)
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Nifty September futures trade at premium (24-09-2024)
NSE India VIX slipped 3.08% to 13.36.
Australian markets end marginally lower after RBA holds rate steady (24-09-2024)
The benchmark S&P/ASX 200 slid 0.13 percent to 8,142 as financials declined, offsetting gains in the mining and energy sectors.