Global steel output slips a tad in January
Global crude steel production declined by 1.6 per cent in January 2024 to 148.1 million tonnes (mt) against 150.6 mt in the corresponding period a year ago. According to the World Steel Association, top producer China’s output plunged to 77.2 mt in November, down by 6.9 per cent from the year-ago period. India reported a […]
SEBI set to unveil cybersecurity and resilience framework for capital markets
Capital markets regulator SEBI is working on a Cybersecurity and Resilience Framework that it intends rolling out once industry feedback is received, Kamlesh Varshney, Whole-Time Member, said on Saturday. Also read: SEBI chief launches CDSL’s multi-lingual initiatives “SEBI has prepared cybersecurity framework. It is ready and already given to the Industry Standards Forum for Brokers […]
Sebi using AI for investigations, says official
Sebi is using Artificial Intelligence (AI) for investigations, its Whole Time Member Kamlesh Chandra Varshney said on Saturday and emphasised that entities should keep track of technological developments. Against the backdrop of instances of manipulations in the stock market, he said the message is that abiding with the law will be more beneficial and violations […]
SEBI plans to make nomination optional for joint MF portfolios
Capital market regulator SEBI has excluded investment made through ETFs and index funds from the regulations on exposure to a single stock of own group companies and nomination has been made option for joint investments in mutual fund schemes. In a consultation paper to promote ease of doing business among MFs, SEBI on Friday allowed […]
Crude oil down as Fed official rules out immediate rate cut
Crude oil futures traded lower on Friday morning as an official from the US Federal Reserve ruled out interest rate cuts in the near future. At 9.52 am on Friday, April Brent oil futures were at $83.28, down by 0.47 per cent, and April crude oil futures on WTI (West Texas Intermediate) were at $78.21, […]
Indices reverse early losses to make fresh highs
Indian equities overcame Fed jitters and reversed early losses to make fresh highs on Thursday. The Sensex surged 535 points to 73,158, and the Nifty rose 162 points to 22,217. Cash market volumes on the NSE were a bit lower than the previous session but still closed at ₹1.02-lakh crore. The mid-cap index rose more […]
Despite RBI restrictions, MFs hiked stake in Paytm in January
Mutual funds holding in troubled Paytm (One 97 Communication) have increased 70 per cent to ₹3,384 crore in January compared with ₹1,995 crore in December as they ramped up exposure to average cost. Investors who have bought stock at a high price tend to buy more of the same stock when it falls. This helps […]
Midday market update: Sensex and Nifty show marginal gains
BSE Sensex traded at 73,108.75, up by 51.35 point or 0.07 per cent as of 1.09 pm on Wednesday, while Nifty 50 was at 22,216.05, up by 19.10 points or 0.09 per cent. On the BSE, a total of 3,871 stocks were traded as of 1:10 pm, with 1,890 advancing, 1,860 declining, and 121 remaining […]
Hindalco subsidiary Novelis files papers with SEC for IPO
Aditya Birla Group company Novelis Inc has filed papers with the US market regulator Securities and Exchange Commission relating to the proposed initial public offering of its common shares. Novelis, the leading aluminium solutions provider and the world leader in aluminium rolling and recycling, is the wholly-owned subsidiary of Hindalco Industries. The proposed IPO of […]
Stocks that will see action today: February 20, 2024
Investment firm Verlinvest Asia Pte offloaded 70.42 lakh shares representing 8.34 per cent equity stake of Sula Vineyards and Mousserena LP disposed of 29 lakh shares representing 3.44 pc stake of the Nashik-based wine producer. The shares were sold in a price range of ₹575.47-576.78 apiece. After the latest transaction, Verlinvest Asia Pte has exited […]