logo
Stock market update: Nifty Auto index  falls  0.14% in  an upbeat  market

Stock market update: Nifty Auto index falls 0.14% in an upbeat market

Time of Indiaa day ago
NEW DELHI: The Nifty Auto index traded negative around 11:07AM(IST)on Friday in an upbeat market.
Bosch Ltd.(up 3.51 per cent),
Balkrishna Industries Ltd
.(up 1.76 per cent), Bharat Forge Ltd.(up 1.2 per cent),
Hero MotoCorp Ltd
.(up 1.08 per cent) and
Exide Industries Ltd
.(up 0.79 per cent) were among the top gainers.
Maruti Suzuki India Ltd
.(down 1.05 per cent),
Eicher Motors Ltd
.(down 0.89 per cent), MRF Ltd.(down 0.74 per cent), TVS Motor Company Ltd.(down 0.68 per cent) and Mahindra &
Mahindra Ltd
.(down 0.52 per cent) were the top losers on the index.
The Nifty Auto index was down 0.14 per cent at 23972.05 at the time of writing this report.
Benchmark NSE Nifty50 index was up 17.11 points at 25422.4, while the BSE Sensex was up 57.18 points at 83296.65.
Live Events
Among the 50 stocks in the Nifty index, 26 were trading in the green, while 24 were in the red.
Shares of
Vodafone Idea
, PC Jeweller,
Ola Electric Mobilit
,
RattanIndia Power
and JP Power were among the most traded shares on the NSE.
Shares of Sindhu Trade, Sumeet Ind, Prime Focus, SML Isuzu and
Reliance Naval
& Engg hit their fresh 52-week highs in today's trade, while Stampede Cap(DVR),
Sadhana Nitro
,
Globe Civil Projects
,
The Grob Tea Company
and
Indogulf Cropscience
hit fresh 52-week lows in trade.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Sebi action on Jane Street highlights 3 aspects of market: Uday Kotak
Sebi action on Jane Street highlights 3 aspects of market: Uday Kotak

Economic Times

time40 minutes ago

  • Economic Times

Sebi action on Jane Street highlights 3 aspects of market: Uday Kotak

In the wake of market regulator Sebi's sweeping crackdown on U.S. trading firm Jane Street, billionaire banker and founder of Kotak Mahindra Bank, Uday Kotak, has flagged three key concerns about the structure of India's stock markets. He cautioned against the rising dominance of money power, the widening gap between single-stock and index derivatives liquidity, and business models that prioritise volumes over fundamentals. ADVERTISEMENT 'Recent stock market actions signify 3 aspects: money power, low liquidity in single stocks vs. index derivatives, exchange, broker business models linked to volume, less to fundamentals. Primary role of market is to promote capital formation, fair price discovery,' Kotak posted on X (formerly Twitter) on Saturday, July 5. blockquote class="twitter-tweet"p lang="en" dir="ltr"Recent stock market actions signify 3 aspects: money power, low liquidity in single stocks derivatives, exchange, broker business models linked to volume, less to fundamentals. Primary role of market is to promote capital formation, fair price discovery./p— Uday Kotak (@udaykotak) a href=" 5, 2025/a/blockquote script async src=" charset="utf-8"/script Link to the post: Kotak's remarks come a day after the Securities and Exchange Board of India (Sebi) barred Jane Street Group and four affiliated entities from India's securities market and ordered a freeze on Rs 4,840 crore in alleged unlawful a 105-page interim order issued Friday, Sebi accused Jane Street of deploying high-volume, cross-segment strategies to manipulate the Nifty and Bank Nifty indices, misleading retail traders and booking massive profits from index options. The regulator said the firm generated more than Rs 36,500 crore in net profits in India between January 2023 and March 2025, of which Rs 43,289 crore came from index options alone. ADVERTISEMENT The order said Jane Street used a strategy called 'Intra-day Index Manipulation' on 15 of the 18 expiry days Sebi examined, which involved buying large quantities of index constituent stocks in the morning to artificially push up prices, while holding large bearish bets in the derivatives market. These trades were later reversed to drive down prices, profiting from the January 17, 2024, a day Sebi described in detail, the firm allegedly bought Rs 4,370 crore worth of Bank Nifty stocks in the morning, creating a misleading sense of strength. At the same time, it built Rs 32,114.96 crore worth of bearish options positions. By the afternoon, it reversed its cash market trades, pushing the index lower and booking Rs 734.93 crore in profit from derivatives, its biggest single-day gain in Indian markets. ADVERTISEMENT 'The sales are aggressive, in a manner that pushes down prices in the component stocks and hence index. JS Group books losses in intraday cash/futures market trading,' the order said. 'Profits in index options more than compensate for the JS Group's losses.' Also read | Rs 735 crore in 1 day! Jane Street's most profitable day on Dalal Street was built on Nifty Bank's fall ADVERTISEMENT Sebi said it first began reviewing Jane Street's trades in April 2024, and issued a cautionary letter in February 2025 through the National Stock Exchange (NSE), warning the firm to avoid such patterns. Despite this, 'JS Group continued with similar trades, in disregard of the caution letter from the Exchange… and JS Group's own commitments,' the regulator three other expiry days, the firm allegedly deployed an 'Extended Marking the Close' strategy, placing large sell orders in the final minutes of trading to depress index levels, thereby benefiting short-call or long put positions. ADVERTISEMENT Sebi wrote that the firm was 'consistently running what appeared to be by far the largest risks in 'cash equivalent' terms in F&O particularly on index option expiry days,' and that other traders were 'unaware of all this, and were hence enticed to deal at a time that the Nifty Bank itself was being artificially and temporarily propped up.'Jane Street has denied any wrongdoing. 'Jane Street disputes the findings of the SEBI interim order and will further engage with the regulator,' the firm said in an emailed response to Reuters. It added that it is committed to operating in compliance with regulations company, which began its India operations in December 2020, has 21 days to respond to the Sebi order or challenge it before the Securities Appellate of Friday, four Jane Street-linked entities — JSI Investments Pvt Ltd, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading Ltd — have been prohibited from buying, selling, or dealing in Indian securities, and their accounts have been placed under a debit Sebi's crackdown on Jane Street unfolded: A 15-month trail of scrutiny and ignored warnings Kotak's post echoes broader concerns raised by Sebi in its investigation: that the market has tilted too far in favour of high-frequency, algorithmic strategies, while retail investors trade on distorted signals. The regulator pointed to a growing imbalance, where foreign and proprietary traders made over Rs 610 billion in FY24 through such strategies, nearly matching the losses absorbed by retail participants. (You can now subscribe to our ETMarkets WhatsApp channel)

Crizac IPO GMP Today: Check Listing Date, Allotment Date, Steps To Check Status Online Via PAN
Crizac IPO GMP Today: Check Listing Date, Allotment Date, Steps To Check Status Online Via PAN

News18

time2 hours ago

  • News18

Crizac IPO GMP Today: Check Listing Date, Allotment Date, Steps To Check Status Online Via PAN

The Crizac IPO allotment will take place on Monday, July 7. Once the allotment is finalised, the IPO allotment status can be checked online by following these steps: 1) Go to the official BSE website via the URL — 2) Under 'Issue Type', select 'Equity'. 3) Under 'Issue Name', select 'Crizac Ltd' in the dropbox. 4) Enter your application number, or the Permanent Account Number (PAN). Those who want to check their allotment status via PAN can select the 'Permanent Account Number' option. 5) Then, click on the 'I am not a robot' to verify yourself and hit the 'Search' option. Your share application status will appear on your screen. Via Link Intime's Portal You can also visit directly on the registrar Link Intime's portal — and check the Crizac IPO allotment status. Via NSE's Website The allotment status can also be checked on the NSE's website at Crizac IPO Listing Date The Crizac IPO will be listed on both BSE and NSE on July 9. Crizac IPO GMP Today According to market observers, unlisted shares of Crizac Ltd are currently trading at Rs 285 against its upper IPO price of Rs 245. It means a grey market premium or GMP of Rs 40, which is 16.33% over its issue price, indicating mild listing gains for investors. The GMP is lower than the 17.14% recorded in the previous day on Friday. The GMP is based on market sentiments and keeps changing. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Crizac IPO Subscription Status The initial public offering of student recruitment solution provider Crizac closed today, Friday, July 4. On the final day of bidding on Friday, the issue received a 62.89 times subscription, garnering bids for 1,54,53,03,240 shares as against the 2,45,71,427 shares on offer. The retail and NII participation stood at 10.74x and 80.07x, respectively. The QIB category received a 141.27x subscription. About Crizac Ltd Crizac Ltd, a Kolkata-based B2B education platform founded in 2011, facilitates international student recruitment for global institutions across the UK, Canada, Ireland, Australia, and New Zealand through a network of over 7,900 agents in more than 75 countries via its proprietary tech platform. Crizac IPO: More Info The IPO is entirely an offer for sale (OFS) of equity shares worth Rs 860 crore by promoters Pinky Agarwal and Manish Agarwal with no fresh issue component, as per the Red Herring Prospectus. The OFS consists of the sale of equity shares worth Rs 723 crore by Pinky Agarwal and Rs 137 crore by Manish. Since the issue is an OFS, Crizac will not receive any proceeds from the IPO. The company has collected Rs 258 crore from anchor investors ahead of the launch of its initial share sale for public subscription. The company, which had proposed to raise Rs 1,000 crore in November last year, has trimmed the issue size to Rs 860 crore. It did not provide any specific reason for the downward revision in offer size. Crizac initially filed its preliminary IPO papers with Sebi in March 2024. The regulator had returned the documents in July. Thereafter, the company refiled the papers in November, which were approved by the regulator in March this year.

How Jane Street targeted over 40 Nifty, Nifty Bank stocks in expiry-day trades
How Jane Street targeted over 40 Nifty, Nifty Bank stocks in expiry-day trades

Economic Times

time2 hours ago

  • Economic Times

How Jane Street targeted over 40 Nifty, Nifty Bank stocks in expiry-day trades

Sebi has barred U.S. trading firm Jane Street and affiliates from Indian markets for manipulating index levels on expiry days, booking illegal gains of Rs 4,840 crore through trades in over 40 Nifty and Bank Nifty stocks. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads U.S. trading firm Jane Street Group allegedly manipulated Indian equity indices by targeting over 40 constituent stocks of the Nifty 50 and Bank Nifty, deploying aggressive expiry-day strategies that netted massive gains, according to a Securities and Exchange Board of India (Sebi) order that barred the firm from Indian securities markets on market regulator's order, running 105 pages, outlined how the proprietary trading firm executed high-volume trades to distort index levels, misleading other market participants and profiting from large index options positions. The firm and four of its affiliates have been barred from accessing Indian securities markets, and Sebi has ordered the impounding of Rs 4,840 crore in alleged illegal probe identified 18 expiry-day sessions, 15 involving Bank Nifty and three involving Nifty 50, during which Jane Street allegedly engaged in 'sharp, large, and aggressive interventions' across cash, futures, and options markets. These trades, SEBI said, influenced index levels and options pricing to the firm's the Bank Nifty stocks involved were HDFC Bank, ICICI Bank, Axis Bank, State Bank of India, Kotak Mahindra Bank, IndusInd Bank, Federal Bank, Bank of Baroda, IDFC First Bank, AU Small Finance Bank, Punjab National Bank, Canara Bank, and Bandhan strategy extended to a broader basket of Nifty 50 constituents, particularly on expiry days in May listed trades involving Reliance Industries, Infosys, Tata Consultancy Services, HDFC Life, ITC, Larsen & Toubro, and Kotak Mahindra Bank, among others. In all, the firm allegedly executed trades in over 40 index stocks, including names such as Adani Enterprises, Bajaj Finance, Coal India, HCL Technologies, Hindustan Unilever, JSW Steel, Maruti Suzuki, ONGC, Power Grid, Sun Pharma, and Tata order highlighted January 17, 2024, as Jane Street's single most profitable day in Indian markets, a session where the firm allegedly made Rs 735 crore using what the regulator called an 'Intra-day Index Manipulation' Bank Nifty index opened significantly lower that morning at 46,573.95 versus the previous close of 48,125.10. Sebi noted that media reports attributed the drop to weak earnings from HDFC Bank the previous firm allegedly responded with a two-patch strategy. In 'Patch I,' Jane Street aggressively bought Rs 4,370 crore worth of Bank Nifty constituents and futures, pushing prices up and creating the impression of a recovery. SEBI said that 'at a time when participants in index options markets are misled by the above support for Nifty Bank, JS Group builds effectively Rs 32,114.96 crores of bearish positions in the much more liquid Nifty Bank index options by buying cheap Put options and selling expensive Call options.'In 'Patch II,' the firm reversed these purchases. 'The sales are aggressive, in a manner that pushes down prices in the component stocks and hence index. JS Group books losses in intraday cash/ futures market trading,' Sebi noted. However, the losses in equities were vastly outpaced by profits in the options market, as put options surged in value.'Profits in index options more than compensate for the JS Group's losses in intraday cash/futures trading,' the Sebi order found that Jane Street used this intra-day strategy on 15 of the 18 expiry days it reviewed, while the remaining three involved a different 'Extended Marking the Close' approach, also observed in trades in May 2025, even after Sebi had issued a cautionary notice to the firm.'JS Group continued with similar trades, in disregard of the caution letter from the Exchange… and JS Group's own commitments,' SEBI said, adding that the firm was 'aware that Nifty Bank was almost certainly likely to fall again by the end of the day, given their intent to aggressively sell back all of their morning purchases (and more).'Other market participants, meanwhile, 'were unaware of all this, and were hence enticed to deal at a time that the Nifty Bank itself was being artificially and temporarily propped up,' the regulator order names four Jane Street entities — JSI Investments Pvt Ltd, JSI2 Investments Pvt Ltd, Jane Street Singapore Pte Ltd, and Jane Street Asia Trading Ltd — which are now banned from buying, selling, or dealing in securities, directly or indirectly. Banks have been directed to freeze all debit transactions from the group's regulator said Jane Street earned Rs 36,502 crore in total profits between January 2023 and March 2025, of which Rs 43,289 crore came from index options. These were partly offset by Rs 7,687 crore in losses across cash and futures also drew attention to broader imbalances in India's derivatives markets, where institutional and proprietary traders, often using high-frequency strategies, dominate gains while retail traders absorb equivalent order said that Jane Street 'was consistently running what appeared to be by far the largest risks in 'cash equivalent' terms in F&O particularly on index option expiry days.' What made the firm's strategy stand out, Sebi said, was 'the intensity and sheer scale of their intervention in the underlying component stock and futures markets.'(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store