Latest news with #SundarSethuraman
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Business Standard
3 days ago
- Business
- Business Standard
SBI's Rs 25,000 crore QIP draws Rs 1 trillion bids; LIC, MFs lead
LIC bids over Rs 5,000 crore in SBI's Rs 25,000 crore QIP, joined by major MFs and FPIs; fundraise to boost capital adequacy by 60 bps with 3.47% equity dilution premium Samie Modak Sundar Sethuraman Mumbai Listen to This Article State Bank of India's (SBI's) Rs 25,000-crore ($2.9 billion) qualified institutional placement (QIP) evoked bids worth nearly Rs 1 trillion — underscoring strong demand for the shares of the country's biggest lender — with local institutions leading the charge, according to people in the know. Sources said Life Insurance Corporation of India (LIC) placed bids worth over Rs 5,000 crore, while domestic mutual funds (MFs) such as SBI MF, ICICI Prudential MF, Aditya Birla Sun Life MF and HDFC Bank too placed bids worth over Rs 1,500 crore each. Meanwhile, about half a dozen foreign portfolio investors (FPIs), including Singapore's
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Business Standard
04-07-2025
- Business
- Business Standard
Explained: What is Jane Street and why Sebi barred it from markets?
Sebi has barred US trading firm Jane Street from Indian markets pending the return of alleged unlawful gains worth Rs 4,840 crore. Here's a detailed explainer on the case. Sundar Sethuraman Listen to This Article The Securities and Exchange Board of India (Sebi) has temporarily barred global proprietary trading firm Jane Street from accessing the domestic equities market. The ban will stay until the US firm returns alleged unlawful gains of Rs 4,840 crore. Here's an explainer on the market maker: What is Jane Street? Founded in 2000 by a team of traders and technologists in New York, Jane Street is a global proprietary trading firm. It employs more than 2,600 people across five offices in the United States, Europe, and Asia, and trades in 45 countries. In 2024, it
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Business Standard
01-07-2025
- Business
- Business Standard
With July 9 deadline near, stock markets shrug off US tariff worries
Cautious optimism builds as investors bet on a delay or deal Sundar Sethuraman Samie Modak Mumbai Listen to This Article Domestic stock markets are holding firm even as the July 9 deadline approaches for the new US tariff rates — ranging from 10 per cent to 50 per cent — announced by US President Donald Trump on April 2. The tariffs, paused for 90 days to allow for bilateral trade negotiations, have sparked cautious optimism among investors who foresee an extension or a favourable US-India trade deal. The benchmark Nifty 50 index last ended at 25,542, less than 3 per cent below its record closing of 26,179 on September 27, 2024. From this year's low of 22,162 on April 7,
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Business Standard
25-06-2025
- Business
- Business Standard
Sensex, Nifty rise nearly 1% on Iran-Israel truce, global optimism
Sensex and Nifty rose to multi-month highs as global sentiment improved after Iran-Israel truce, but concerns over tariffs and geopolitical stability remain Sundar Sethuraman Indian equity markets rose close to a per cent on Wednesday, buoyed by global risk-on sentiment triggered by the ceasefire between Iran and Israel, though investors remained wary of geopolitical risks. The Sensex gained 700 points (0.85 per cent) to close at 82,756, while the Nifty advanced 200 points (0.8 per cent) to 25,245. Market capitalisation surged by Rs 4 trillion, reaching Rs 454 trillion. Both indices closed at their highest levels since early October. Brent crude prices dipped 0.6 per cent to $66 per barrel. Foreign portfolio investors (FPIs) sold shares worth Rs 2,428 crore. The selling was offset by domestic institutional investors, who pumped in Rs 2,373 crore. The ceasefire between Iran and Israel showed no signs of breaking on Wednesday, with both nations pledging to uphold the truce following US pressure over initial violations. However, market participants remained cautious, awaiting clearer signs of lasting peace after weeks of conflict that claimed hundreds of lives. 'We expect the Indian market to remain firm on the back of reduced global geopolitical concerns and positive domestic cues. Investors would focus on financials, supported by the RBI's recent liquidity-easing measures. Monsoon-linked sectors are also expected to be in the spotlight as rainfall trends improve. Meanwhile, capital market-related stocks are expected to benefit from heightened activity in the broader market and a robust IPO pipeline,' said Siddhartha Khemka, head of research, wealth management, Motilal Oswal Financial Services. Investors have now shifted their focus to the global economy and how US trade tariffs are affecting corporate profits and growth. Despite the calm on the surface, investors remain varied in renewed geopolitical tensions. A looming tariff pause deadline, set to expire on July 8, is also creating unease, with no major progress on trade deals. The gains in recent months have also left little room for further upside. The Sensex is just 3.6 per cent away from its all-time high, while the Nifty is 3.7 per cent from its all-time high registered in September. Market breadth was strong, with 2,779 stocks advancing and 1,262 declining. 'The recent market resilience despite mixed global cues reflects underlying strength, although heightened volatility continues to keep traders cautious. Notably, the Nifty has surpassed the 25,200 mark just ahead of the June monthly expiry. It will be crucial to see whether it can sustain above this level, especially given the divergent trends across sectors,' said Ajit Mishra, senior vice-president – research, Religare Broking. Top-weighted HDFC Bank, which rose a per cent, was the biggest contributor to Sensex gains. Bharat Electronics, Kotak Mahindra Bank and Axis Bank were the only three declining stocks on the Sensex.
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Business Standard
08-06-2025
- Business
- Business Standard
Street signs: Nifty 50 on blade's edge, Swiggy's oven is hot, and more
The market rebound from April lows has turned attention to capital market-linked stocks. BSE, Central Depository Services, and DAM Capital Advisors have each jumped over 30 per cent in the past month Samie Modak Sundar Sethuraman Listen to This Article Nifty 50 on blade's edge: Breakout or breakdown? The Nifty 50 index rose 1 per cent last week, closing at 25,003, but trailed emerging market (EM) peers as the MSCI EM Index climbed over 2 per cent. Trading above its 20-day simple moving average (SMA) of 24,800, the index has remained in a consolidation range for several weeks. Analysts say a breakout above 25,100 could lift the index to 25,400–25,500, reinforcing its upward trend. A slip below 24,800, however, could sour sentiment, potentially pushing the index to retest 24,500. 'The 20-day SMA at 24,800 is a key marker. Holding above
