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ODIs such as P-notes are an indirect route of investing in India for foreign funds that do not want to register with local authorities. In a P-note transaction, a bank, broker or custodian allowed to issue these derivatives buys the securities that the investor desires and issues P-notes against them.

The S&P 500 just capped its second straight up week, and while Treasuries have dealt body blows to short sellers, holding on through the worst volatility in four decades would’ve reaped sizable profits.

Investors are bracing for more banking sector volatility next week, after sharp declines in shares of European giants Deutsche Bank and UBS on Friday followed the collapse of Silicon Valley Bank and Signature Bank earlier this month. Upcoming U.S. data on consumer confidence and inflation could also sway markets.

Just a couple of weeks ago, threats to financial stability barely registered on the troubleshooting list for central bankers. Now they’ve rocketed toward the top. Powell and his peers say preventing a re-run of the inflationary 1970s remains priority number one. But the signal is shifting

"Continued crude supply from Russia to global market also added to pressure," Kikukawa said, predicting that the benchmarks would likely test their lows hit earlier this week also as there is lingering anxiety about the banking sector.

"We also allege that they committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors," SEC Chair Gary Gensler said in a statement at the time.

"The Board of Directors of the Company, based on the recommendation of the Human Resources, Nomination and Remuneration Committee, at its meeting held on March 24, 2023, has designated Shri Srikanth Venkatachari (Joint Chief Financial Officer of the Company since 2011) as the Chief Financial Officer of the Company with effect from June 1, 2023," the release stated.

The retail portion of the OFS also received an overwhelming response, with the government getting bids for 14,50,924 shares against 11,70,357 shares on offer for the category.

The stock quoted a 52-week high price of Rs 1715.4 and a 52-week low of Rs 1052.1.

How will this change in taxation impact the derivatives market and who will be affected the most?