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“A lot of people do what we lawyers call pump and dump schemes which is to say that this x stock is doing great and then you buy in advance of making such recommendations and then sell it after you made the recommendations. It has gained epidemic proportions right now.”

Indian domestic equity markets opened on a positive note on Friday tracking firm global cues and buoyant global markets .The S&P BSE Sensex and Nifty50 settled lower in the previous session.

“There are no major global or domestic triggers that can move the markets decisively as of now. Therefore, the market is likely to meander around the current levels. 18,400 for Nifty is acting as a resistance level. For Nifty to move up to and beyond record highs some strong triggers are necessary and that is not happening,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.

"Stock investors are different from cricketers, actors and musicians. Passion remains the driving force in other disciplines like cricket, acting and music, but the lure to make big money is the first and immediate driving force for investors. But passion comes after an investor has learnt to get it right."

In the previous session on Thursday, the rupee depreciated 38 paise to 81.64 against the dollar.

“Retail investors’ participation into these sectors (midcaps and smallcaps) have largely been aided through the IPOs which are back on track, as also with the basket-based portfolio opportunities that are provided by various platforms,” said Anand Varadarajan, director at Asit C. Mehta Financial Services.

Credit markets have seized up as the Federal Reserve hikes rates at the fastest pace since the early 1980s. Banks that agreed to backstop loans at one price months ago are finding that appetite has changed and funds are demanding higher yields. That’s prompting firms specializing in distressed debt to prepare for a potential boom.

“Remember very clearly that the employee does not contribute to the pension part, only the employer does and the entire part of the employee’s contribution goes to the provident fund part. Now the pension part is important because this is the area where if you are eligible, then at the time of your retirement, you will start getting a pension based on the working of the EPS.”

In the September quarter of FY23, prompted by a fall in shares, promoters of 11 BSE500 firms -- Uno Minda, Infosys, Birlasoft, GMM Pfaudler, Bajaj Auto, NCC, Vardhman Textiles, Jindal Steel & Power, Strides Pharma Science, JM Financial and VIP Industries -- raised stakes between 1-3%.

American private equity firm TPG Capital is likely to have sold shares in two block trades at Rs 184.55 per share, according to reports. In the two deals, 1.9% of Nykaa equity is said to have changed hands.