SECURITIES MARKET
Dalal Street set for a positive start as GIFT Nifty trades higher
Indian markets experienced a downturn on Monday, with the Nifty closing below 24,000 due to profit-taking and geopolitical concerns. IT and Auto stocks faced selling pressure. Analysts suggest a cautious outlook, with attention on US-Iran talks and the Strait of Hormuz. The India VIX saw an increase, indicating heightened market fear.
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
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.
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.
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.
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.
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.
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.
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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