FPI sell-off continues; Rs 3,400 cr pulled out in just 3 sessions in Nov

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

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Q2 earnings, global trends, trading activity to drive market: Analysts

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 ...

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Over 300 crypto fraud complaints received, will take action: Himachal Dy-CM

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

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ESAF SFB IPO subscribed 1.74 times; Upstox settles matter with Sebi

Sebi had issued a showcause notice to the stockbroker in January 2022 for alleged violations of the cyber security and cyber resilience framework

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Protean eGov Technologies raises Rs 144 crore from anchor investors

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

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F&O Strategy: Bull Spread on NMDC for Nov expiry

Nandish Shah of HDFC Securities recommends to Buy NMDC 160 CALL and simultaneously sell 170 CALL of the November series.

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Nifty Pharma index needs to breakout above 14,900 for a bullish move

According to Ravi Nathani, an independent technical analyst, the select momentum oscillators on the Nifty IT index have reached oversold zone, thus suggesting a potential rebound in the near term.

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Mamaearth parent Honasa Consumer IPO subscribed nearly 7.6 times

The qualified institutional buyer portion of the issue was subscribed 11.5 times, with over 80 per cent of the bids coming from overseas investors

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Stock Market Live: Global markets rally as Fed signals no more rate hike

Stock market Update on Thursday, November 02: Fed chief Jerome Powell signaled that policymakers will remain on hold, downplaying the "efficacy" of the Fed's September forecast for 1 more rate hike.

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Sharpline Broadcast case: Sebi modifies order against 15 individuals

Capital market regulator Sebi on Wednesday modified its order passed against 15 individuals in a case of manipulation of share prices of Sharpline Broadcast Ltd through uploading misleading videos on YouTube channels. In March this year, the regulator barred 24 entities from the securities market for manipulating the share prices of two companies through misleading videos on YouTube channels. Passing a 77-page confirmatory order with some modifications, Sebi restrained 15 individuals from dealing in the scrip of Sharpline during the pendency of the investigation. "I, hereby confirm the directions issued vide the Interim Order dated March 02, 2023 read with Confirmatory Order dated July 11, 2023, subject to the following modifications, the noticees are restrained from dealing in the scrip of Sharpline during the pendency of the investigation," Sebi's whole time member Ananth Narayan G said in the order on Wednesday. The watchdog noted that the liability for the illegal gain made by

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Sebi confirms market ban on 21 entities in stock manipulation case

Sebi on Tuesday confirmed the securities market ban on 21 entities in a case related to manipulation of share price of Sadhna Broadcast by way of uploading misleading videos on YouTube channels. The ban on one individual -- Kundan Singh Bisht -- has been lifted and the total estimated amount of illegal gains through the alleged manipulation has been revised to Rs 38.61 crore. In March this year, the watchdog had barred various entities in the case and the estimated illegal gains earlier was Rs 41.85 crore. In a 125-page confirmatory order in the case with respect to 22 entities on Tuesday, Sebi refused to lift the ban on 21 of them. "I find that the submissions of the Noticees, except that Kundan Singh Bisht, are insufficient to refute the prima facie conclusions drawn in the Interim Order. "Consequently, the prima facie findings in the interim order dated March 02, 2023 that the Noticees have engaged in a fraudulent and manipulative scheme resulting in contravention of provision

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October tremors: Nifty posts worst decline in 10 months, shows data

The Nifty fell 2.8 per cent in October, and the Sensex by 3 per cent, their biggest fall since December 2022

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Gold prices fall by Rs 230, trading at Rs 62,400; silver up Rs 1,000

The price of 22-carat gold fell by Rs 210, trading at Rs 57,200 per 10 grams

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Trading strategies for Nifty PSU Bank, Pvt Bank, Financial Services indices

According to Ravi Nathani, an independent technical analyst, the Nifty Pvt Bank and Financial Services indices can be bought on dips, while the Nifty PSU Bank index seems range-bound on the charts.

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WTO member nations need to discuss crypto under e-comm negotiations: GTRI

The member countries of WTO (World Trade Organisation) should include issues pertaining to crypto currency while negotiating any agreement on the e-commerce sector, think tank GTRI said on Monday. As the crypto market garners increasing global attention, its classification under the WTO e-commerce framework remains ambiguous, Global Trade Research Initiative (GTRI) said. It added that the debate should pivot on whether exchanges of crypto-currency fall under 'electronic transmissions' in the e-commerce scope. "With the multifaceted dynamics of the e-commerce landscape, the outcomes of the ongoing WTO negotiations hold significant implications for global digital trade. "The inclusion or exclusion of crypto-currencies and the diverse positions of influential nations will shape the future of international e-commerce policies," GTRI Co-Founder Ajay Srivastava said. At present, the WTO members are holding two-pronged e-commerce negotiations (joint initiative and e-commerce moratorium)

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Stock Market LIVE: Gift Nifty hints tepid start; Reliance, NTPC in focus

Stock market Update on Monday October 30: Major markets in the Asia-Pacific region quoted with losses this morning; Gift Nifty, however, indicated a likely flat start.

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Nifty expected to consolidate; Look to buy Bank Nifty on dips

According to Ravi Nathani, an independent technical analyst, the NSE Nifty 50 is likely to trade in the 19,350 - 18,800 range.

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FPIs pull Rs 20,300 cr from equities in Oct; invests Rs 6,080 cr in debt

Foreign Portfolio Investors (FPIs) have pulled out over Rs 20,300 crore from Indian equities this month so far, primarily due to a sharp surge in the US treasury yield, and the uncertain environment resulting from the Israel-Hamas conflict. However, the story takes an intriguing turn on observing FPI activity in Indian debt as they have infused Rs 6,080 crore into the debt market during the period under review, data with the depositories showed. Going ahead, the future of FPI flows hinges on several factors, including the US Federal Reserve's November 2 meeting and global economic developments, Mayank Mehraa, smallcase manager and principal partner at Craving Alpha, said. In the short term, FPIs are expected to remain cautious amid global uncertainty and increasing US interest rates. Nonetheless, India's strong economic growth prospects should maintain its appeal for foreign investors in both equities and debt, he added. According to the data with the depositories, Foreign Portfoli

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