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Bajaj Finserv Asset Management Limited (BFAML) will be the investment manager of the MF business and Ganesh Mohan, who has been a part of Bajaj Finserv for 8 years as group head for corporate strategy, will lead the AMC as CEO.

The S&P 500 opened lower by 6.81 points, or 0.17%, at 3,963.34, while the Nasdaq Composite dropped 7.96 points, or 0.07%, to 11,447.58 at the opening bell.

Under the rule, monetary fines should be levied on brokers based on policy approved by MCSGF. However, in the instant case while no provision existed, in place of taking up the matter before MCSGFC for formulating policy, MCX imposed the penalty on its trading members under some other clause

However, the brokerage remained Underweight in the Indian FMCG sector, given the rich valuation and high consensus earnings forecasts. "For most companies, our earnings estimates are below consensus, and we have further lowered them post 3QFY23 results," it said

Credit growth for most banks was between 15 and 20%, driven by continued growth in consumer segments even as the corporate credit growth too saw a healthy improvement

The addition of the contracts will also expand the NSE product offering in the energy basket and its overall commodity segment. Earlier, NSE had signed a data licensing agreement with CME Group for the launch of oil and natural gas derivatives on its platform

In the NSE list of seven stocks with a market cap of over Rs 10,000 crore, closed above their 200 DMA (Daily Moving Averages) on February 28.

In the bull case scenario, the brokerage values Nifty at a 10-year average (20.8x) and arrives at a bull case target of 22,487 (23,015 at a 5% premium to LPA earlier). Whereas, bear case Nifty can trade at a 25% discount to LPA (20% earlier) with a target of 16,866 (17,533 earlier), it said.

So far in 2023, Nifty fell over 4% spurred by weak global cues and continuous selling by foreign institutional investors

The rupee rose 0.20% to 82.50 per dollar, having strengthened up to 82.37 at one point, near its 55-day moving average of 82.3514 and at its highest level since Feb. 10.There were a "decent" amount of inflows into the market, and the broader sentiment was better, while a pullback in the dollar index helped the rupee, said a dealer at a private bank