On September 13, NSE NOW, a trading terminal for traders, was not working properly in Gujarat, Rajasthan and in some parts of Maharashtra, prompting SEBI to slap a penalty of around Rs 50 lakh.
The direction has been issued by the two leading stock exchanges, BSE and NSE, in consultation with the capital market regulator, Sebi (Securities Exchange Board of India).
The reason for the trading glitch was not immediately clear and an NSE spokesman did not respond to requests for comment.
GIFT is Prime Minister Narendra Modi’s pet project, his “gift" to Gujarat that aims to relocate some of Mumbai’s financial sector activity to Gandhinagar.
Mock trading sessions are generally conducted by stock exchanges to test their system performance as part of their efforts to provide a robust platform to members in order to enable flawless trading.
According to pivot charts, the key support level for the index is placed at 10,724.57, followed by 10,651.23.
Nifty PSU Bank index cracked 5 percent on losses in shares of Indian Bank, Canara Bank, Punjab National Bank and Union Bank of India that cracked up to 11 percent.
The weakness seems to be a fallout of the government's announcement of merger of 10 PSBs into four on August 30 and the worries stemming from the move.
The Index maintenance sub-committee of NSE indices decided to include Nestle India in the Nifty as a part of its periodic review.
At the end of July, there were 1,950 listed shares on the NSE, while 1,887 were available for trading. Shares of as many as 18 companies that were not listed were allowed to trade at the end of the month, according to data available with the exchange.
“We are also in constant touch with Securities and Exchange Board of India (SEBI) and keeping them updated of all the glitches that are coming up and how we are working towards resolving those glitches,” said Limaye.
Allied Financial is accused of carrying out rogue trades, which resulted in a Rs 460-crore loss. IL&FS Securities was the guarantor.
It is only when financial activity crosses a certain threshold can one expect talent to settle in this new centre. It will be this talent that will drive future activity and make it a virtuous circle of financial development.
The NSE and SGX said they have received all approvals from their respective regulators to launch NSE IFSC-SGX Connect
A combination of factors pulled benchmark indices lower than crucial support levels.
It’s not a lost world. The moral is not losing big in corrective phases is the secret sauce to making money
Other than a handful of Nifty stocks, which have risen sharply, the rest of the market has been under pressure for some time now. So the downtrend in prices has not happened overnight.
the S&P BSE Metals was the top loser followed by S&P BSE Capital Goods along with S&P BSE Finance, S&P BSE Industrials and S&P BSE Telecom shed which between 2-3 percent.
The top gainers from NSE include Power Grid, UPL, Infosys, Titan Company and ITC while the top losers are HDFC, Zee Entertainment, Adani Ports, HDFC Bank and Bajaj Auto.
There are other ways of protecting small investors and dampening trading interest in a stock. Increasing margins is one key example.
The top gainers from NSE include UPL, Kotak Mahindra Bank, Zee Entertainment, Tech Mahindra and HCL Tech while the top losers are YES Bank, GAIL India, Coal India, JSW Steel and ONGC.
The move comes a few days after the Securities Appellate Tribunal (SAT) asked SEBI to pass an order in the case.
942 stocks advanced and 780 declined while 366 remained unchanged on the NSE. On the BSE, 1256 stocks advanced, 1124 declined and 168 remained unchanged.
Why is a developing nation like us not paying much attention to financial literacy when a large part of the workforce are middle-class taxpayers?
The top gainers from the NSE include Tech Mahindra, Larsen & Toubro, HCL Tech, GAIL India and Dr Reddy's Labs while the top losers are Bharti Infratel, IndusInd Bank, YES Bank, UPL and Vedanta.