Latest Stock Market News

Sudip Bandyopadhyay suggests that GST reduction and other factors will boost consumer durables and cement industries. He recommends Voltas and Amber Enterprises in the consumer durables sector. While positive on market infrastructure institutions long-term, he notes potential short-term volatility due to regulatory focus on curbing speculation, impacting exchanges and broking houses.

Just before Ganesh Chaturthi, bank credit grew faster than deposits. RBI data shows credit growth at 10.22% and deposit growth at 10.05%. Last year, credit growth was higher at 13.7%. Bankers anticipate stronger credit growth in the second quarter, driven by festive demand. Deposit growth is slow due to repricing and alternative investments.

Equity investment by Indian companies abroad witnessed a 22% decline in July compared to the previous year, totaling $1.592 billion, according to RBI data. This decrease occurred amidst stricter regulations on outward foreign direct investment. However, total financial commitment increased due to a rise in guarantees issued, reaching $3.512 billion.

The Reserve Bank of India is reviewing its inflation targeting framework, established in 2016, and seeks stakeholder input on potential adjustments. While acknowledging the success of the 4% target, the RBI is open to considering alternative benchmarks, including core inflation, and adjustments to the tolerance band. The review aims to improve macroeconomic outcomes amidst emerging global challenges.

Indian insurance companies are proceeding carefully with new investments. Equity derivatives adoption remains slow despite regulatory approval. Bond forward rate agreements see limited activity. Insurers are developing risk management frameworks and upgrading IT systems. They plan to start with small exposures in equity derivatives. Discussions included gold ETFs and REIT limits. Regulators are urging diversification within existing limits.

A block trade involving Clean Science and Technology s promoters faced disruption due to a broker error by Avendus Spark Institutional Equities. A punching error led to the sale of significantly more shares than authorized, causing concern for the company and investors. Avendus Spark is taking steps to rectify the situation, assuring no financial impact on the seller.

SEBI is considering extending the tenure and maturity of equity derivative contracts to enhance hedging and long-term investing, according to Chairman Tuhin Kanta Pandey. This move aims to deepen the cash equities market, the foundation of capital formation, while ensuring risk awareness and suitability among participants. The regulator seeks stakeholder input for a calibrated approach.

SEBI is considering regulating the grey market for unlisted shares, aiming to improve price discovery before IPOs and boost government tax revenue. This initiative comes as India s IPO market sees significant growth despite global economic uncertainties. SEBI plans to collaborate with the corporate affairs ministry and stock exchanges to establish a regulated pre-IPO trading platform with necessary disclosures.

Securities and Exchange Board of India (Sebi) conducted a search operation targeting a financial influencer in Mumbai. Kamlesh Varshney of Sebi mentioned the importance of enforcement to deter market misconduct. Sebi aims to focus on significant cases to ensure regulatory compliance. The regulator distinguishes between legitimate financial education and misleading practices.

Overseas interest in Indian bonds is strong. Credit spreads are at record lows after S&P s rating upgrade. Exim Bank and Reliance Industries bonds are performing well. Experts say Indian companies credit quality is excellent. Cheaper rupee funds and competitive overseas loan rates are impacting bond market activity. Most Indian companies have limited overseas payments.