BAT’s stake sale in ITC to trigger $50 million inflows as Sensex adjustment comes into effect: Nuvama
ITC’s weight in S&P BSE Sensex to increase, expecting $50M inflows by Nuvama. Sensex adjusts ITC’s free float post BAT’s stake sale. Global indices MSCI, FTSE unaffected. ITC reports 6% growth in Q3 profit.
FII bulls find their way back to Dalal Street, pour in Rs 43,900 crore in 13 sectors
Foreign Portfolio Investors made a comeback to Dalal Street in March, investing Rs 43,900 crore across various sectors. Sectors like consumer goods, financial services, and telecommunications saw significant inflows, while IT, oil & gas, and healthcare sectors faced sell-offs.
Hot Stocks: Brokerages on HDFC Bank, RIL, Dr Lal PathLabs and Shriram Finance
Jefferies, UBS, and Bernstein provide buy ratings on various companies with target prices. Jefferies recommends BUY on Shriram Finance as it sees steady asset quality. UBS is optimistic about the earnings visibility and consumer businesses of RIL.
F&O stocks to buy today: Tata Steel, ITC among top 6 trading ideas
Indian market consolidates with Nifty at 22118 levels. Positive stock setup seen. Options data indicates trading range. Expert recommendations from Pritesh Mehta, Kunal Bothra. India VIX down to 12.51 levels, suggesting reduced volatility.
T+0 settlement to be optional at first, limited to 25 stocks
To start with, the new trade settlement system will run in tandem with the existing T+1 cycle in the equity cash market. It will be applicable for 25 stocks and only select brokers can participate in the new system, said the regulator.
FPIs pick out FMCG from trough, telecom & financials
The FMCG sector received the highest inflows of ₹11,180 crore after witnessing selling worth ₹4,472 crore last month. In 2023, shares in the sector received ₹2,916 crore.
RBI readies framework for SROs
India’s central bank sets guidelines for SROs including grievance redressal mechanisms, non-discriminatory fees, and adherence to regulatory standards to ensure fair and transparent operations in various sectors.
‘Fintech platforms are agile, but increase risk of misuse’
RBI deputy governor Swaminathan J discussed the rise of ‘agile’ fintech platforms at the Global Money Week 2024 in Paris, emphasizing the need for robust regulatory frameworks, cybersecurity measures, and consumer awareness to mitigate fraud risks.
As $1b limit nears, MFs told to suspend overseas ETF inflows
The Securities and Exchange Board of India (Sebi) has asked the Association of Mutual Funds in India (AMFI) to direct fund houses to stop accepting money in the relevant ETF-focused plans.
Powell Ahoy! Beaten down SMid caps get a Fed boost
The BSE Sensex gained 0.75% or 539.50 points to close at 72,641.19, while the Nifty advanced 0.79% or 172.85 points to close at 22011.95.