StockMarket

Sebi unveils more reforms, board clears easier startups listing rules
Mumbai: In a series of reforms, capital market regulator Sebi's board on Wednesday cleared easing of norms to kick-start startup listings and allowed mutual funds to segregate distressed assets to safeguard investment returns.

At a meeting held here, the Sebi board also approved a proposal to expand the offer-for-sale mechanism for reduction of

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Share market update: PSU Bank shares trade higher; Syndicate Bank surges over 7%
NEW DELHI: PSU Bank shares were trading higher with the Nifty PSU Bank index up 1.89 per cent at 2935.35 on Wednesday.

Shares of Syndicate Bank (up 7.64 per cent), Bank of India (up 7.30 per cent), Oriental Bank of Commerce (up 4.84 per cent) and Vijaya Bank (up 4.61 per cent) were the top performers in the index.

Union Bank of India (up 4.56

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SBI, Axis, IndusInd in race for IL FS sec arm
Mumbai: SBI, Axis Bank and IndusInd Bank have emerged three key bidders for IL-FS Securities Services (ISSL) and ISSL Settlement - Transaction Services — the twin capital market arms of the beleaguered infrastructure and financing group. The securities business, which is understood to be valued at around Rs 1,500 crore, was put on the b
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After Market: Equity investors richer by Rs 2.8L cr; 200 stks showing bullish trend
NEW DELHI: Domestic equity benchmarks soared for the second consecutive session on Wednesday, as the major unknown of state elections got over, the government appointed a new governor for RBI and there were signs of thaw in US-China trade relations.

Investors appeared to have cheered the appointment of former economic affairs secretary Shaktikanta

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China stocks edge higher on easing trade woes, stimulus boost hopes
Chinese stocks ended slightly higher on Wednesday on easing trade tensions with the U.S. and hopes of a domestic stimulus package, amid subdued market activity for the second day as investors remained cautious ahead of the year-end.

China's main Shanghai Composite index ended 0.3 percent higher at 2,602.15 points. The blue-chip CSI 300 index also

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Share market update: Auto shares in the green; Motherson Sumi jumps nearly 5%
NEW DELHI: Auto shares were trading in the green with the Nifty Auto index up 2.51 per cent at 9068.65 on Wednesday.

Shares of Motherson Sumi Systems (up 4.75 per cent), Hero MotoCorp (up 4.54 per cent), Bajaj Auto (up 2.87 per cent) and Tata Motors (up 2.75 per cent) were the top gainers in the index.

Mahindra - Mahindra (up 2.55 per cent),

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Tech View: Nifty50 forms a strong bullish candle, may consolidate now
The bulls on Dalal Street took the Nifty higher for the second straight session on Wednesday. During the day, the index not only crossed its short-term 20-day moving average, but also went higher to kiss the 200-DMA at 10,752 level.

The index hit an intraday high and low of 10,752 and 10560, respectively, before closing just shy of the 200-DMA at

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PNB raises Rs 500 crore through share sale to employees
State run Punjab National Bank (PNB) was able to raise around Rs 500 crore after its Employee Stock Purchase Scheme (ESPS) was 90 per cent subscribed.

“The eligible employees could subscribe equity share at a discounted price of Rs 53.95 per equity share. The scheme was well accepted by the employees,” said an official aware of the developments.

So

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FIIs won&t give up on Modi, say NDA still has a strong chance in 2019
The domestic equity market opened in the green on Wednesday after the state elections outcome. The Congress made significant gain in this round of assembly elections, dealing a body blow to the BJP in the so-called Hindi heartland states of Chhattisgarh and Rajasthan and emerged as the single largest party in Madhya Pradesh.

While stock investors

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F O: India VIX-s sharp decline to 15.81 level says this rally has legs
By Chandan Taparia

The Nifty50 index opened positive and witnessed sustained buying interest throughout Wednesday to close with a gain of around 200 points. It formed a Big Bullish candle for the second consecutive session and recovered around 400 points from its major support at 10,333 level.

The index negated the formation of lower highs and

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A decisive vote in 2019 can lift Sensex to 47,000 by Dec: Morgan Stanley
Indian equity market may deliver better returns in 2019 only if Indian electorate does not deliver a shock verdict in the forthcoming general elections by electing a fragmented coalition, Morgan Stanley warned on Wednesday, a day after the ruling BJP suffered a big jolt in elections to four states.

The global brokerage sees Sensex at 42,000 by

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AMD Industries, Syncom Healthcare among top BSE losers
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 290.76 points up at 35,440.77 on Wednesday on account of buying in frontline bluechip counters.

Shares of Simplex Casting (down 12.77 per cent), Hindustan Adhesives (down 12.75 per cent), Bhilwara Tech (down 10.69 per cent), Bharat Bhushan (down 10.00 per cent), Ocean Agro Industries

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NEW DELHI: First, the good news. You have more than 10 market holidays waiting for you next year.

The bad news is the number of such holidays in 2019 stands at 15, which misses out by a whisker in comparison to 2018 which has a tally of 16.

It's less than 20 days to go when the new year kicks in. The fact is, it has been a challenging year for

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Australian shares close up, healthcare bounces; NZ up
Australian shares edged higher on Tuesday as China confirmed it was moving ahead on trade talks with the United States, though the benchmark inded still held close to two-year lows plumbed in the previous session.

The S-P/ASX 200 index rose 0.4 per cent or 23.4 points to finish the day at 5575.90, after Beijing said a road map was discussed

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YES Bank jumps 5% and extends rally ahead of Dec 13 board meet
NEW DELHI: Extending their winning streak to the second consecutive session, YES Bank shares jumped nearly 5 per cent in morning trade on Wednesday ahead of its board meeting where it will recommend names for a new chairman for approval by the Reserve Bank of India.

Last month, Yes Bank had said that on December 13, it board will meet to shortlist

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Market cheers new RBI boss, Sensex shoots up 629 points
NEW DELHI: A new RBI boss and an optimistic assessment of BJP's 2019 reelection bid gave enough firepower to the bulls as equity benchmarks made a spectacular comeback on Wednesday.

CLSA in a note said Prime Minister Narendra Modi is still a favourite to win the 2019 general election.

The possibility of trade tension between the US and China

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Top intraday trading ideas for afternoon trade for Wednesday 12 December 2018
NEW DELHI: Equity benchmarks Sensex and Nifty50 were trading higher on Wednesday on account of buying in frontline bluechip counters.

ETMarkets.com collated a list of trading ideas from various experts and here's what they had recommended for today's afternoon trade:

Sagar Doshi of EdelweissBiocon is a 'Buy' call with a target price of Rs 685 and

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Indiabulls Real Estate, Bank of Maharashtra among top gainers on BSE
NEW DELHI: The domestic equity benchmark BSE Sensex was trading 327.28 points up at 35,477.29 on Wednesday on account of buying in frontline bluechip counters.

Shares of Loyal Equipments (up 19.80 per cent), Tejnaksh Healthcare (up 18.51 per cent), Capital Trade Links (up 17.00 per cent), Zodiac JRD MKJ (up 15.80 per cent), Eco Recycling (up 12.57

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Shaktikanta Das tries to mend ties with govt before RBI board meet
The newly appointed RBI Governor Shaktikanta Das tried to mend relationship with the government in his first media interaction after the appointment on Wednesday.

The former economic affairs secretary said there should be a free and fair discussion between the government and the RBI.

“We must have stakeholder consultation with everybody. The g

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ADB sees no slowdown for India, pegs FY19 growth forecast at 7.3%
Asian Development Bank (ADB) has retained its growth forecast for India at 7.3 per cent and 7.6 per cent in FY19 and FY20, and says the economy is maintaining its growth momentum on a rebound in exports, higher industrial and agricultural output.

However, it highlighted that tightness in credit flow due to stress in the non-banking financing

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Easing PCA norms will not help banks, NBFCs in the long-term, says analyst
Any easing of rules for banks or non-banking finance companies by a new regime may bring short-term breather for the firms but will only postpone reform of the banking system to the future, say analysts.

Eleven public sector banks, including Bank of India, Allahabad Bank, Uco Bank, United Bank of India, IDBI Bank, Dena Bank and Indian Overseas Bank

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RBI reserve must not go for deficit financing: Arvind Subramanian
NEW DELHI: Modi government’s former chief economic adviser (CEA) Arvind Subramanian says RBI must not compromise on its functional autonomy but at the same time try to maintain a balance on cooperation and communication between Mint Street and the North Block.

Speaking at the India Economic Conclave 2018, he said policies, not individual, are key

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Share market update: Nifty Pharma index flat; Dr. Reddy's Lab dips over 3%
NEW DELHI: The Nifty Pharma index was trading 0.07 per cent down at 8740.9 on Wednesday with its components trading on a mixed note.

Shares of Biocon (up 1.69 per cent), Sun Pharmaceutical Industries (up 1.62 per cent), Cadila Healthcare (up 1.29 per cent) and Cipla (up 1.10 per cent) were the top performers in the index.

Dr. Reddy's

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MFs, PMS may take part in commodities derivatives market
Mutual funds and portfolio management services (PMS) are likely to be allowed to participate in the domestic commodities derivatives market.

The Securities and Exchange Board of India (Sebi) could allow existing custodians in the securities market to offer custodial services in the commodity derivatives market to enable smoother institutional

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Share market update: Metal shares jump; JSPL, Tata Steel among top gainers
NEW DELHI: Metal shares were trading with a positive bias with the Nifty Metal index trading 2.59 per cent up at 3134.4 on Wednesday.

Shares of Jindal Stainless (Hisar) (up 8.57 per cent), Jindal Steel - Power (up 6.92 per cent), Welspun Corp (up 5.74 per cent) and National Aluminium Company (up 3.95 per cent) were witnessing strong gains.

Tat

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Share market update: IT shares bullish; Infibeam Avenues rises over 3%
NEW DELHI: The Nifty IT index was trading 0.67 per cent up at 14,676.65 on Wednesday with most of its components trading in the green.

Shares of Infibeam Avenues (up 3.60 per cent), Oracle Financial Services Software (up 1.93 per cent), MindTree (up 1.83 per cent) and Tata Elxsi (up 1.16 per cent) were trading with gains.

HCL Technologies (up

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Usha Martin surges 6% as CCI clears sale of steel business
Shares of Usha Martin climbed over 6 per cent in early trade on Wednesday after the Competition Commission cleared Tata Sponge Iron's acquisition of the steel business of Usha Martin for Rs 4,300-4,700 crore.

Earlier, Usha Martin had said the sale of steel business to Tata Steel will help the company to significantly reduce its debt.

Usha

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DRL stock slips 5% after US court order
Shares of Dr Reddy's Labs plunged over 5 per cent on Wednesday afternoon after a US appeals court barred the drugmaker from launching a copycat version of its rival Indivior's opioid treatment Suboxone Film.

The latest hurdle comes three weeks after the US Court of Appeals for the Federal Circuit lifted a preliminary injunction that blocked it

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Share market update: Bank shares up; YES Bank climbs over 4%
NEW DELHI: Bank shares were trading in the positive zone with the Nifty Bank index up 1.29 per cent at 26,501.5 on Wednesday.

Shares of YES Bank (up 4.13 per cent), Federal Bank (up 3.35 per cent), IDFC Bank (up 2.88 per cent) and Kotak Mahindra Bank (up 2.48 per cent) were the top performers in the index.

Punjab National Bank (up 2.33 per cent),

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Improvement in key operating variables including occupancy rates and average room rates has benefited select hotels players which followed strict cost control, cautious expansion and debt reduction. Foreign tourists’ arrivals improved by 3.1 per cent in the September 2018 quarter in comparison with the same quarter last year. In addition, o
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