FPIs reverse selling trend ; invest Rs 378 crore in equities in Nov

Foreign Portfolio Investors (FPIs) have pared their bearish stance on Indian equities during November as they made a net investment of Rs 378 crore on the sharp decline in US treasury bond yields. This came after FPIs dumped Indian equities worth 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. Overall, the cumulative trend for 2023 remains healthy, with FPIs pouring in Rs 96,340 crore so far this calendar year. "On the way ahead, we think that improving risk appetite in the EM (emerging markets) and falling risk-free yields in the US will draw FPI flows towards India," Hitesh Jain, Strategist, Institutional Equities Research at YES Securities India, said. According to the data, FPIs made a net investment of Rs 378.2 crore in Indian equities this month (till November ...

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M-cap of 4 of 10 valued firms rise Rs 65,671 cr; Reliance biggest winner

The combined market valuation of four of the top-10 most-valued firms climbed Rs 65,671.35 crore last week, with Reliance Industries emerging as the biggest gainer. Last week, the BSE benchmark climbed 175.31 points, or 0.26 per cent. While Reliance Industries, HDFC Bank, ICICI Bank, and Bharti Airtel were the gainers, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, State Bank of India, and Bajaj Finance faced erosion in valuation. The market valuation of Reliance Industries jumped Rs 26,014.36 crore to reach Rs 16,19,907.39 crore. HDFC Bank added Rs 20,490.9 crore, taking its valuation to Rs 11,62,706.71 crore. The market valuation of Bharti Airtel rose Rs 14,135.21 crore to Rs 5,46,720.84 crore , while that of ICICI Bank gained Rs 5,030.88 crore to Rs 6,51,285.29 crore. However, the market capitalisation (mcap) of TCS eroded by Rs 16,484.03 crore to Rs 12,65,153.60 crore. The valuation of Bajaj Finance declined Rs 12,202.87 crore to Rs 4,33,966.53 crore. The

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Global factors to drive stock markets in holiday-shortened week: Analysts

Stock markets will be largely driven by global trends and macroeconomic data announcements in a holiday-shortened week which may see volatility amid monthly derivatives expiry, say analysts. Equity markets will remain closed on Monday for Gurunanak Jayanti. Trading activity of foreign investors and the movement of the rupee against the dollar will also be tracked by investors. "While global cues are relatively muted, market participants will closely monitor movements in crude oil prices, US bond yields, and the dollar index," said Santosh Meena, Head of Research, Swastika Investmart Ltd. From the domestic macroeconomic front, the GDP data for the July-September quarter will be released on Thursday and the PMI (Purchasing Managers' Index) data for the manufacturing sector is scheduled to be announced on Friday. Auto companies would remain in the limelight amid monthly sales data announcements. "Markets will focus on the global and domestic macroeconomic data. Auto stocks will be i

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Rs 2,500 cr crypto scam: Kingpin Subhash Sharma hiding in UAE, says SIT

The special investigation team (SIT) probing the Rs 2,500-crore cryptocurrency scam would approach the competent court on November 28 to seek a warrant for the extradition of fugitive kingpin Subhash Sharma from UAE, officials said on Saturday. The kingpin of the scam Subhash Sharma from Sarkaghat in Himachal Pradesh's Mandi district is still at large and as per our information, he is hiding in UAE. Efforts are underway to bring him back, Deputy Inspector General of Police (DIG) northern range, Abhishek Dhullar, who is heading the SIT, told PTI. The multi-crore cryptocurrency ponzi scam started in 2018. The investors smelled something fishy when they stopped getting returns during the Covid pandemic when most business activities came to a halt. Later when they asked the accused about their pending returns, they realised they had fallen into a trap and were threatened to keep shut, the police said. The fraudsters threatened the victims that they would lose all their invested money i

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Tata Technologies IPO: Company finalises offer price at Rs 500 per share

Tata Motors on Saturday said its arm Tata Technologies has finalised the offer price, including the anchor investor offer price, at Rs 500 per equity share for its Initial Public Offering (IPO). The Rs 3,042.5 crore IPO of Tata Technologies, which provides engineering and product development digital services, was subscribed 69.43 times on the final day of subscription on Friday, driven by remarkable participation from institutional buyers. "...Tata Technologies Ltd in consultation with book running lead managers to the IPO, has finalised the offer price, including the anchor investor offer price, at Rs 500 per equity share of face value of Rs 2 each," Tata Motors said in a regulatory filing. The public issue had a price band of Rs 475-500 per share. Accordingly, the size of the IPO aggregates to Rs 3,042,51 crore comprising an offer for sale of 4.63 crore equity shares by Tata Motors amounting to Rs 2,313.75 crore, 97.17 lakh equity shares by Alpha TC Holdings Pte Ltd amounting to

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Sebi reduces minimum issue size for social stock exchange to Rs 50 lakh

Markets watchdog Sebi on Saturday approved providing flexibility to Not for Profit Organisations (NPOs) in raising funds through the social stock exchange and also decided to introduce a regulatory framework for index providers. These were among the decisions taken by the board of the Securities and Exchange Board of India (Sebi) during its meeting held here. In a release, the regulator said flexibility will be provided for fund raising by NPOs through the social stock exchange. In this regard, the minimum issue size in case of public issuance of Zero Coupon Zero Principal Instruments (ZCZP) for NPOs on the social stock exchange will be reduced to Rs 50 lakh from Rs 1 crore. Among other decisions, a regulatory framework will be introduced for the index providers to foster transparency and accountability in governance and administration of financial benchmarks in the securities market.

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Man arrested from Kerala for 'threatening to blow up Mumbai airport'

A Kerala resident was arrested by the Maharashtra Anti-Terrorism Squad (ATS) on Friday for allegedly threatening to blow up the Chhatrapati Shivaji Maharaj International Airport here if he was not paid "one million US dollars in Bitcoin", an official said. The ATS started probe after the Mumbai International Airport Limited, which operates the airport, received a threatening email in its feedback inbox at 11.06 am on Thursday, the police official said. "This is a final warning to your airport. We will blast Terminal 2 in 48 hours unless one million US dollars in Bitcoin is transferred to the address. Another alert will be after 24 Hrs," the email read. A First Information Report (FIR) was registered under Indian Penal Code sections 385 (putting a person in fear of injury in order to commit extortion) and 505 (1) (b) (statements made with intent to cause fear or alarm to the public or against the public tranquillity) at the Sahar police station. The ATS cyber cell, which started a

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Mumbai Airport gets 'email threat' to blow up T2, demands $1 mn in Bitcoin

The Mumbai International Airport on Thursday received a "threat" email to blow up its Terminal 2, police said.The sender of the email has demanded USD 1 million in Bitcoin within 48 hours to avert the blast."Sahar police have registered a case against an unknown person for sending the threat mail using the email id-quaidacasrol@gmail.com," Mumbai police said.According to the police, the mail was sent to the feedback inbox of the Mumbai International Airport Limited (MIAL) at around 11 am on Thursday.The threat mail read: "Subject: Blast. Text: This is a final warning to your airport. We will blast Terminal 2 within 48 hours unless one million dollars in Bitcoin is transferred to the address. Another alert will be after 24 Hrs."A case under the Indian Penal Code sections 385 (putting a person in fear of injury to commit extortion) and 505 (1) (b) (statements made with intent to cause fear or alarm to the public or against the public tranquillity) has been registered against an unknown .

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Stock Market LIVE: Another muted start likely; TCS, ONGC, HPCL in focus

Stock market Updates LIVE, Friday, November 24: The European markets ended modestly higher even as the ECB minutes hinted of 'high for long' stance. US was shut for Thanksgiving holiday.

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Nifty FMCG, Energy indices offer divergent trading opportunities; check why

According to Ravi Nathani, an independent technical analyst, the Nifty FMCG index looks bullish on chart and presents a buying opportunity on dips for potential upward movement.

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New Binance CEO Richard Teng's first job is to avert customer exodus

Teng, 53, succeeded Zhao as the chief executive of the world's largest crypto exchange after the company and Zhao pleaded guilty to US anti-money laundering and sanctions violations

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Sebi bans two people for 1 year over unregistered investment advisories

Capital markets regulator Sebi on Wednesday debarred two individuals from the securities markets for one year and slapped a fine of Rs 2 lakh on them for carrying out unregistered investment advisory activities. The regulator also directed the noticees (P Krishnakumar and Jagadeesan S) to refund all the money, within three months, collected from any investors/complainants, as fees in respect of their unregistered investment advisory activities. The order came after Sebi conducted an examination on the receipt of a complaint against www.ymforecast.com managed by P Krishnakumar and Jagadeesan S, and prima facie found that they were carrying out unregistered investment advisory activities. Subsequently, a show cause notice was issued to the noticees on September 4. In its 22-page order, Sebi found that the noticees were acting as an investment adviser without holding the certificate of registration from the markets watchdog. Therefore, the noticees were in violation of the provisions

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Gold jumps Rs 380, trading at Rs 62,020/10g, silver rises by Rs 400

The price of 22-carat gold rose Rs 350, with the yellow metal selling at Rs 56,850.

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Binance pleads guilty to US sanctions violation, will pay $4.3 bn fine

Zhao pleaded guilty Tuesday to violating the Bank Secrecy Act in federal court in Seattle. Richard Teng will succeed Zhao as CEO.

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Fedbank Financial raises Rs 330 cr; Ireda IPO subscribed 2x on Day 1

Unifi Capital on Tuesday received Securities and Exchange Board of India's (Sebi) in-principle nod to set up a mutual fund house

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Trading strategies for Nifty Banks and Financial Services indices

According to Ravi Nathani, an independent technical analyst, traders can consider the buy on dips strategy for Nifty Financial Services and Private Banks indices. However, the PSU Bank looks weak.

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Benchmark equity indices fall for second day amid selloff in auto stocks

Bharti Airtel, Wipro, HCLTech, Tech Mahindra, Tata Consultancy Services and Maruti were among the gainers

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Gold, silver prices remain unchanged, yellow metal trading at Rs 61,690/10g

The price of 22-carat gold remained unchanged, with the yellow metal selling at Rs 56,550.

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Bias for Nifty remains bullish; look to buy on dip, suggest charts

According to Ravi Nathani, an independent technical analyst, substantial resistance for the Nifty can be expected between 20,064 and 20,110.

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