StockMarket

Nasdaq confirms bear market; economic worries sink Wall Street
NEW YORK: Wall Street stocks fell sharply in volatile trading on Friday, with the Nasdaq confirming it is in a bear market, as concerns of slowing economic growth led investors to flee stocks in high-valuation sectors such as technology and communication services.

The major US stocks indexes accelerated declines in the last hour of trading after

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Mumbai: Indian stocks nosedived on Friday, with benchmark indices sliding about 2 per cent each, on concerns that the global economy led by the US was headed into protracted slowdown even as an anticipated wave of competitive populism ahead of next year’s general elections threatens to worsen New Delhi’s fiscal arithmetic.

Local shares, which had

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Sebi bans Grass Root Finance, 12 others from capital markets for 4 years
NEW DELHI: The Sebi Friday banned Assam-based Grass Root Finance - Investment Company (GFIC) and 12 others from securities markets for at least four years, for raising funds without complying with the public issue norms.

The 12 others include present and former directors and promoters of the firm.

Besides, the markets regulator directed the

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BSE rolls out startup listing platform
Indian startup ecosystem received a fresh impetus on Saturday as the BSE rolled out ‘BSE Startups’, a platform for entrepreneurs to list their new-age companies.

The idea, as BSE MD and CEO Ashishkumar Chauhan put it, is to enable Indian youth to "get involved in creating more startups and raise funds from other Indians using the BSE Startups

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Bandhan Bank and Housing Development Finance Corp (HDFC) are in discussions for a possible merger between Bandhan and GRUH Finance, two people familiar with the development said.

The merger between Bandhan and a home financing subsidiary of India’s mortgage-lending pioneer is likely to involve a share-swap deal, sources said. The transaction would

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Buy Gujarat Ambuja Exports; target Rs 370: SBICAP Securities
SBICAP Securities has a buy call on Gujarat Ambuja Exports (GAEX) with a target price of Rs 370.

The current market price of Gujarat Ambuja Exports is Rs 250.70.

Time period given by SBICAP Sec is one year when Gujarat Ambuja Exports price can reach the defined target.

Investment rationale by SBICAP Securities:

GAEX has announced its plans to set

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Before the start of this week, we had highlighted the possibilities of Nifty facing overhead resistance while inching higher. We had also expected the week to remain more volatile than normal. In line with this forecast, the week that went by remained highly volatile and the index oscillated in a wide range.

While facing resistance in the overhead

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Jet Airways asks partner Etihad to back Rs 1,050-cr loans
MUMBAI: Stressed carrier Jet Airways has asked its partner Etihad Airways to back loans worth $150 million (Rs 1,050 crore) that it plans to raise from overseas banks to keep its operations running, said two people in the know.

India’s second biggest airline by market share has made this proposal even as it undergoes a forensic investigation d

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Govt seeks to reopen IL FS books citing auditor mismanagement
By Saloni Shukla and Shruti SrivastavaThe Indian government has sought to reopen the books of Infrastructure Leasing - Financial Services group, alleging evidence of auditing lapses was uncovered while looking into allegations that funds were siphoned from the beleaguered financier.

A probe by India’s Serious Fraud Investigation Office indicate

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By Abhishek Anand

Real estate is a key sector of the Indian economy, contributing 6-7 per cent of India’s GDP. In addition, the sector employs a 52 million workforce and is expected to generate over 15 million jobs over the next five years.

The importance of the real estate sector is well acknowledged by the central and the state governments and

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Here's what happened after a study found Twitter ''toxic'' for women
San Francisco: The Twitter stock nosedived over 12 per cent after a famed Wall Street analyst dubbed the micro-blogging platform the "Harvey Weinstein of social media", days after an Amnesty International study found Twitter a "toxic" place for women.

In a note to investors, online investment newsletter Citron Research's founder Andrew Left called

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Tech view: Nifty's long bearish candle shows bulls loosening grip
Talk of a Santa rally in the market went up in smoke in just a few hours on Friday! It was a freaky Friday on Dalal Street, as equity benchmarks plunged nearly 2 per cent following weak global cues.

Before closing 197 points, or 1.81 per cent, down at 10,754, Nifty hit an intraday low and high of 10,738 and 10,963, respectively. The index opened

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The week in 10 stocks: IL FS smiles, plus scrips that rallied up to 35%
A big blow was enough to make market fortunes go haywire on Friday. The impact was so intense that key stock indices let go of all their gains made during the week.

As a result, the BSE Sensex fell to 35,742 on December 21, from 35,962.90 on December 14, sinking as much as 0.61 per cent.

Rising global economic growth concerns and a looming

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Governor Shaktikanta Das takes first step to douse anger on RBI promotion rule
Reserve Bank of India governor Shaktikanta Das is personally looking into the contentious new promotion policy of the central bank, paying heed to popular demand.

This is in sync with his commitment to be "acconmodative".

The new policy, which is more stringent and put the bottom 25% of RBI officers in terms of performance "non-promotable",

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F O: Spike in VIX and Nifty charts show loss of market momentum
By Chandan TapariaThe Nifty50 index failed to hold above its previous day’s high on Friday and witnessed sustained selling pressure throughout the session. It formed a Big Bearish Candle on the daily scale and an Inverted Hammer on weekly scale, which suggest the bulls are loosening their grip on the market.

The index lost the momentum of last six

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GIPS adoption on D-Street can help asset allocators find right managers
By Vidhu Shekhar, CFA

What are the Global Investment Performance Standards (GIPS® Standards) Why should the Indian investment industry adopt GIPS

The investment industry employs many different types of professionals. They work in a variety of roles, ranging from individuals advising a few clients to large financial institutions employing

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OBC to allot up to 5 crore new shares to staff under ESPS
NEW DELHI: State-owned Oriental Bank of Commerce will issue up to 5 crore new equity shares to its employees under the employee stock purchase scheme (ESPS).

The bank received the approval of shareholders at its extra-ordinary general meeting held Friday, it said in a regulatory filing.

The remote e-voting held for the resolution approved with

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Apollo Tyres' shareholders approve reappointment of Neeraj Kanwar as MD
Apollo Tyres Friday said its shareholders have approved reappointment of Neeraj Kanwar as Managing Director of the company with effect from May 28, 2019 until March 31, 2024. In a regulatory filing, the company said 96.72 per cent of 42.29 crore votes polled were in favour of Kanwar's reappointment while 3.28 per cent votes were against it.

The

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The richest people on Earth lost $511 billion this year after record first-half gains were obliterated by a succession of bruising market selloffs.

Global trade tensions and worries about a US recession dragged markets lower at year-end, leaving the 500 people on the Bloomberg Billionaires Index with a combined net worth of $4.7 trillion as of

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CCI clears Hitachi Payment's 26% stake buy in SBI Payment Services
NEW DELHI: The Competition Commission of India (CCI) Friday said it has approved the acquisition of 26 per cent stake by Hitachi Payment Services in SBI Payment Services.

The country's largest lender State Bank of India (SBI) and payments solution provider Hitachi Payment Services entered into an agreement in October to form a joint venture (JV)

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FinMin's Alternative Mechanism gives nod for BoB, Dena, Vijaya Bank merger
Public sector lender Bank of Baroda Friday said the 'Alternative Mechanism' of the finance ministry has accorded in-principle approval for its merger with Dena and Vijaya Bank. "Ministry of Finance, Department of Financial Services on 20th December 2018 has advised that the Alternative Mechanism (AM) has accorded its in-principle approval to the
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Donald Trump said to discuss firing Fed's Powell after latest rate hike
By Jennifer Jacobs, Saleha Mohsin and Margaret TalevPresident Donald Trump has discussed firing Federal Reserve Chairman Jerome Powell as his frustration with the central bank chief intensified following this week’s interest-rate increase and months of stock-market losses, according to four people familiar with the matter.

Advisers close to Trump

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ICICI sees GDP inching up to 7.2% in FY20, long pause by RBI
MUMBAI: The economy may inch up to 7.4 per cent, despite the Reserve Bank likely remaining on a long pause as inflation will climb up again in the second half of next fiscal year, says ICICI Bank.

The private sector lender has cut its growth forecast at 7.2 per cent for FY19 due to the dip in the second quarter numbers on slowing consumption,

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Equity investors on Dalal Street lost Rs 2.2 lakh crore on Friday as a sudden downturn in the benchmark indices cut combined market capitalisation of the BSE-listed companies to Rs 143.30 lakh crore from Rs 145.56 lakh crore.

The BSE Sensex settled at 35,742, down 690 points or 1.89 per cent lower while Nifty50 shit shop at 10,754, down 198

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Fortis Hospitals, parent should recover dues from Singhs, says Sebi
Mumbai: The Securities and Exchange Board of India (Sebi) Friday slightly modified its earlier order on Fortis Healthcare, asking both Fortis Hospitals and its parent company to recover dues from the erstwhile promoters of the hospital chain.

Sebi on Friday said Fortis Healthcare and Fortis Hospitals should take all necessary steps to recover Rs

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SLCMNBFC arm Kissandhan to raise Rs 29 crore via NCDs
Delhi based agri­ logistics group Sohan Lal Commodity Management (SLCM)’s NBFC arm Kissandhan on Friday announced raising of Rs 29 crores through an issue of non-convertible debentures (NCDs) that were subscribed by AAV Sarl, an affiliate of global impact investment company Symbiotics Group.

On the achievement Mr. Sandeep Sabharwal, Group CEO,

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Santa rally over! Sensex tanks 700 points in mean reversion
Equity investors on Dalal Street lost over Rs 2 lakh crore on Friday as a sudden downturn in the benchmark indices cut combined market capitalisation of the BSE-listed companies to Rs 143.39 lakh crore from Rs 145.56 lakh crore.

The BSE Sensex traded 600 points down at 35,827 at 3 pm.

Analysts called it mean reversion for the market, which had

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Brokers vent ire at NCDEX for revising clearing fee
Brokers and industry representatives have criticised commodity exchange NCDEX’s “unilateral” revision of clearing fees levied on open interest (OI) to a pro rata basis effective February 1, 2019, from a flat structure earlier. They said cost of transaction would rise and drive away hedgers. The NCDEX management said those who saw value in trade
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After Market: Rs 2.26 crore investor wealth wiped out; IT pack takes a hard knock
NEW DELHI: A strong all-round selling, triggered by weakness in global stocks, made domestic equity benchmarks Sensex and Nifty tank on Friday.

Analysts called it mean reversion for the market, which had outperformed its global peers for the past one month. Indian equity indices, which usually enjoy a positive correlation with Dow Jones, have

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Government likely to renew demand for extra dividend from RBI: Sources
NEW DELHI - India's government will likely renew its demand for 131.40 billion Indian rupees ($1.9 billion) in additional dividend from the central bank helmed by newly-appointed governor Shaktikanta Das, two sources in the government told Reuters.

The government believes the amount has been pending since 2016-17, when the used an internal formula

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