Latest Stock Market News

Sebi planned amendments to reduce compliance costs for entities with listed non-convertible securities. Proposals include aligning financial approval processes with equity-listed entities, revising fraud and default disclosure rules, and shortening record date notification timelines. The regulator also suggested mandatory XBRL format for disclosures. Public feedback is invited by September 6.

Sebi proposed a new facility allowing debt security investors a liquidity window via stock exchanges. This facility, available for new issuances, employs put options on set dates. Issuers could offer it after one year and must state if it applies to all investors or only retail investors, according to a discussion paper.

Global markets experienced gains following promising U.S. economic data, alleviating recession fears. The Dow Jones, S&P 500, and Nasdaq Composite all saw increases. European and Asian shares also improved. Moderating inflation and robust retail spending strengthened market optimism, with anticipation of a Federal Reserve rate cut in September.

New-age stocks surged recently, thanks to higher revenue growth and increased profitability through reduced spending. The ET E-commerce Index rose 45% in six months. Shares of Zomato, Paytm, and PB Fintech showed notable gains. Foreign institutional investors significantly increased their stakes, supporting the growth of these companies.

Sandip Sabharwal advised investors to identify stocks that have peaked, maintain 80-85% investments, and keep the rest in cash for future opportunities. He highlighted that sectors like pharma are benefiting from lower input costs and suggested keeping an eye on renewable energy, auto, and financial sectors for potential investments in the future.

The new rules mandate that quarterly financial results must be approved by the board of directors before submission. These results, when sent to the stock exchange, need the signature of either the chairperson, managing director, or a whole-time director. If none of these are available, any other director authorized by the board can sign the financial results.

Gold prices jumped by 1.7% or Rs 1,200 per 10 gram on Friday taking cues from prices in the international market. The rally was on the back of growing hopes of the September interest rate cut by the US Federal Reserve following a benign July inflation number.

Vedanta Limited expanded its sale of Hindustan Zinc Limited shares by including an oversubscription option. The offer increased to a total of 1.51% of HZL’s equity share capital. A portion of the equity shares is reserved for retail investors, with allocation scheduled for August 19, 2024. The sale aims to attract substantial interest from investors.

The yen rose against the dollar on Friday but still looked on course for its biggest weekly decline since June after the latest batch of U.S. economic data eased fears of a recession and supported bets of gradual Federal Reserve interest rate cuts.