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The Securities and Exchange Board of India (Sebi) in July last year came out with guidelines for segregation and monitoring of collateral at the client level amid instances of misuse of client collateral by trading members.

In the international markets, gold soared to USD 1,942 an ounce while silver was also trading higher at USD 25.07 per ounce.

In the current financial year, new age tech companies (NATCs) have raised about Rs 43,283 crore through IPOs till date. Out of these, no less than 85 per cent of the issuer companies were backed by private equity investors and all of such issues also had an offer for sale (OFS) component.

“At this point of time, we do not know whether this would spiral into a military conflict. But the most obvious reaction of investors has been to sell and get out and wait for clarity to emerge. So many stocks may look fundamentally attractive after a sharp downturn, but it is obviously not the time to buy because you are quite likely to get a better price tomorrow or the day after.”

Questioning the definition of bull and bear markets, he said everybody defines it according to their own portfolios.

It was a bloodbath on the bourses, particularly among the second-rung stocks. Gayatri Projects, Indus Towers and Rain Industries succumbed to the selling pressure.

“I would not say that it is a good idea to rush into the markets yet because it is still adjusting to what is happening. But there is no need to exit companies that have strong balance sheets and are growing earnings and have pricing power. ”

The blue-chip CSI300 index fell 2% to 4,529.32, while the Shanghai Composite Index lost 1.7% to 3,429.96.

The S&P/ASX 200 index ended at 6,990.6, with its drop marking its worst session since Sept. 4, 2020. The benchmark is also on track for its first weekly loss this month.

Recently, Bikaji Foods International filed for an Rs 1,000 crore IPO which is entirely an offer for sale (OFS) of up to 29,373,984 shares by existing shareholders and promoter group entities.