SECURITIES MARKET
Zerodha eyes foray into investment banking
India's leading retail broker, Zerodha, is making a significant move into investment banking. The company has applied to Sebi for a merchant banking license through its arm, Zerodha Corporate Advisors. This strategic expansion comes as the equity capital markets show strong potential, with experts noting ample room for new players possessing robust distribution and investor networks.
Market wrap: Sensex falls 372 points, Nifty closes below 23,950; Kotak Mahindra Bank drops 3%
Indian markets ended lower as Sensex and Nifty snapped a two-session winning streak, pressured by geopolitical tensions in the Middle East and broad-based selling. While pharma outperformed, auto stocks dragged. Analysts flagged near-term volatility but maintained a constructive outlook for Nifty above key support levels amid mixed global cues.
2 top stock recommendations from Vinay Rajani
Indian equity markets are experiencing a cautious phase, consolidating within a defined range as fresh buying momentum remains elusive. Technical analysts suggest the broader trend is still positive, with key support at 23,800. Financials and pharma sectors are identified as preferred investment avenues, with specific stock recommendations provided for traders looking for opportunities amidst the current market conditions.
GIFT Nifty hits record open interest of $21.56 billion; contracts touch all-time high
GIFT Nifty has hit a record open interest of $21.56 billion, reflecting rising global investor participation in India's offshore derivatives market. The milestone, achieved on June 25, also saw contracts reach an all-time high, reinforcing GIFT Nifty's growing role as a preferred platform for trading Indian equity derivatives.
Zerodha now wants to enter investment banking space, seeks Sebi nod
Zerodha has applied to SEBI for a Category I merchant banking licence, signalling its entry into investment banking. The move aligns with India’s strong IPO pipeline and expanding capital markets activity. If approved, it will deepen Zerodha’s diversification beyond broking into a broader financial services platform
Puravankara inks joint development for 6.4-acre land in Bengaluru’s Sarjapur
Puravankara has inked a joint development deal for a 6.4-acre plot in Bengaluru's Sarjapur, projecting a Rs 1,000 crore Gross Development Value. This residential project, spanning 0.8 million sq ft, bolsters the developer's pipeline, contributing to a Rs 5,200 crore GDV from Q1 FY27 acquisitions. The company emphasizes its commitment to high-growth markets like Bengaluru, strategically securing land with strong infrastructure and employment prospects.
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Gold prices dip to Rs 1.43 lakh/10 grams, silver below Rs 2.23 lakh/kg. What lies ahead?
Gold and silver prices traded lower on MCX on Monday as renewed Middle East tensions and expectations of further US Federal Reserve rate hikes pressured the non-yielding precious metals. Gold futures fell 0.4%, while silver futures declined up to 0.3%.
Bitcoin is boring. Bring on AI, space and JGB tokens
Forget Bitcoin's struggles; digital tokens representing real-world assets like bonds and stocks are gaining traction. These 'tokenized assets' offer instant trading and collateral use, promising higher returns and a future 'Wall Street' in crypto wallets. While critics question their necessity, proponents highlight the elimination of hidden costs like settlement delays and cumbersome loan processes, paving the way for a more efficient financial future.
Markets poised for a cautious start as GIFT Nifty trades flat
Indian markets ended Thursday on a high note, with the Nifty 50 climbing nearly 1% from its lowest point. This positive momentum was fueled by declining energy prices, a stronger rupee, and favorable global trends. Analysts anticipate a continued positive outlook for Indian equities, with the Nifty expected to hold above the 24,000 mark, bolstered by stable geopolitical conditions and robust foreign investment.
RBI seeks bigger money market access: What draft proposals mean for NBFCs and companies
The RBI has proposed widening participation in India’s term money market by allowing eligible NBFCs, mortgage lenders, companies and financial institutions to lend and borrow short-term funds. The move aims to deepen money markets, improve liquidity access and broaden participation, while imposing prudential exposure limits on eligible non-bank finance firms.
Gold, silver face fresh test as US dollar, Iran crisis to shape week ahead: Analysts
Gold and silver are facing downward pressure as investors digest escalating US-Iran tensions, crude oil price shifts, and crucial economic data. Key indicators like manufacturing PMIs, inflation figures, and US jobs reports will shape the Federal Reserve's next moves. Analysts suggest a continued corrective trend for precious metals, with the US dollar's strength and subdued industrial demand impacting silver.
Ahead of Market: 10 things that will decide D-Street action on Monday
Indian markets closed marginally higher on Thursday after a volatile expiry session, with the Sensex rising 109 points to 77,100.47 and the Nifty gaining 34 points to 24,056 after giving up intraday gains. Sentiment stayed mixed amid profit booking, FII outflows and macro cues, while global equities ended weak. Markets were shut on Friday for Muharram. Analysts expect range-bound trade ahead.
The Japan-India Summit: Strategy maturing into substance
Japan's Prime Minister Sanae Takaichi's visit to India signals a deepening economic partnership, focusing on resilient supply chains and high-tech manufacturing. The summit highlights a strong alignment between political will and commercial needs, aiming to redefine global supply chains. Discussions will center on semiconductor interdependence, energy security, and next-generation mobility, leveraging India's market reforms and Japan's technological prowess to build a robust economic ecosystem.
Enterprise SaaS becomes 'condition for survival' in Indian BFSI as demand outpaces friction
Financial services in India are embracing Enterprise SaaS as a survival necessity, driven by regulatory demands and customer expectations. Banks and other institutions see B2B SaaS as vital for growth, particularly in security, compliance, and customer experience. Mid-sized players are leading adoption, recognizing scalability as key. While technology offers competitive advantages, startups face challenges with long sales cycles and implementation hurdles.
Myanmar overtakes Afghanistan as top illicit opium source; NCB flags India risk
Myanmar has become the world's top source of illicit opium, surpassing Afghanistan due to its ongoing civil war and economic crisis. This surge poses a significant security threat to India, with a new trafficking route directly impacting its northeastern states, fueling terror financing and arms smuggling. The report also highlights the growing global drug use and the emergence of ultra-potent synthetic opioids as a major health concern.
Delhi, Uttarakhand on high security alert over possible Khalistani terror threat
Security agencies have issued a high alert for Delhi and Uttarakhand following intelligence about a potential Khalistani terror threat. Key religious sites, government buildings, and police installations are under increased surveillance after an email warned of attacks. This comes amid recent standoffs involving Nihangs in Uttarakhand. Authorities are investigating the email's authenticity and enhancing security measures across sensitive locations.
Sebi rejects Anil Ambani's Reliance Infra settlement application
India's market regulator has rejected Anil Ambani's settlement bids concerning allegations of misusing nearly $700 million in company funds. The Securities and Exchange Board of India cited parallel investigations by other agencies, stating the transactions could be for personal enrichment. This marks the second settlement rejection for Ambani, with the group categorically denying the claims.
Financial regulators scramble to counter AI rise with own tools
Swiss financial regulator Marlene Amstad urges banks and watchdogs to rapidly adopt new technology to counter escalating cybersecurity threats amplified by AI. She highlighted the need for faster vulnerability patching as AI models expose risks. FINMA is promoting AI adoption among global regulators to strengthen financial systems, especially for digital assets, emphasizing Switzerland's need for access to advanced AI for pre-deployment system hardening.
Transrail Lighting Ltd secures overseas orders worth Rs 459 cr
Transrail Lighting Ltd has secured significant international orders totaling approximately Rs 459 crore, primarily for transmission line construction in the Middle East and North Africa. This boosts the company's total order inflow for the year to Rs 1,034 crore. Additionally, Transrail is the Lowest (L1) bidder for projects worth around Rs 400 crore, indicating a strong future pipeline and sustained growth prospects.
Short positions in G-Secs on cards to improve liquidity
The Reserve Bank of India has unveiled draft rules allowing participants to take short positions in government securities, aiming to boost market liquidity and price discovery. A detailed framework for trading "when-issued" securities, bonds yet to be officially released, is also introduced. These measures, with specific limits for banks, primary dealers, and others, are open for public feedback until July 17.
Building resilient supply chains through an India-Chile partnership
Chile, a major global player in critical minerals like copper and lithium, presents a compelling strategic alliance opportunity for India. Beyond resource extraction, the partnership aims to integrate value chains for AI and data center inputs. Chile's stable economy, robust legal framework, and attractive investment incentives, including R&D tax credits and a new business visa system, make it an ideal partner for India's energy security and decarbonization goals.
Binance to suspend crypto services in several EU countries
Binance, the world's largest cryptocurrency exchange by volume, said it had applied for authorisation to operate under the EU's crypto assets regulation MiCA in Greece, but told clients that it has now withdrawn that application and would apply in another EU country.
Binance to suspend crypto services in several EU countries
Cryptocurrency exchange Binance said Thursday it will suspend services in several European countries from next week as it has been unable secure regulatory approval to operate in the European Union. Binance, the world's largest cryptocurrency exchange by volume, said it had applied for authorisation to operate under the EU's crypto assets regulation MiCA in Greece, but told clients that it has now withdrawn that application and would apply in another EU country.
RBI proposes to further enhance money market participation, liquidity
The Reserve Bank of India is proposing new guidelines to boost participation and liquidity in the term money market, allowing entities to set their own lending limits with board approval. Additionally, the RBI has issued draft directions to consolidate existing rules for government securities trading in the secondary market. These moves aim to enhance clarity and streamline operations for all stakeholders.
Domestic SIPs power India's market resilience amidst FPI outflows: HDFC Securities
India is experiencing a pivotal shift in its financial markets as domestic investors take the lead over foreign entities, enduring a three-year trend of FPI sell-offs. This resilience results from a cultural embrace of SIPs for equity savings and a more sophisticated investor base. While global factors may still affect FPIs, the rising domestic wealth is now significantly influencing the market.
Buy, Sell or Hold: Goldman Sachs maintains sell on Bharat Dynamics; HDFC Securities maintains buy on IndiaMART InterMESH
Brokerages remain divided on two stocks. Goldman Sachs retained its 'Sell' rating on Bharat Dynamics, raising the target price marginally to Rs 1,275 after fresh defence orders improved revenue visibility, but it continues to flag valuation concerns and margin risks.
Sebi weighs allowing celebrity endorsements for market entities
SEBI is proposing a significant overhaul of advertising rules for financial entities, aiming for a unified framework. The changes would allow celebrity endorsements at the brand level, while most advertisements will shift to a post-issuance reporting system, enhancing efficiency and relevance. This move acknowledges the widespread use of celebrity endorsements for brand building, but safeguards against undue investor influence on specific products.
Vedanta shares fall 6% after Rs 2,149 crore block deal; promoter Twin Star likely seller
Vedanta's stock experienced a significant dip, dropping up to 6% from its intraday peak of Rs 287. This decline followed media speculation that promoter entity Twin Star Holdings likely reduced its stake via a substantial block deal. Around 7.3 crore shares, valued at Rs 2,149 crore, were reportedly traded at Rs 292 each. Further details are anticipated.
Sebi proposes sweeping revamp of technology rules for stock exchanges
Sebi has proposed a major revamp of technology and cyber security rules for stock exchanges, clearing corporations and depositories. The regulator aims to simplify regulations, eliminate overlaps, strengthen cyber resilience and improve ease of doing business through a unified framework covering audits, capacity planning, disaster recovery and algo trading.
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