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Sebi plans tighter eligibility criteria for F&O inclusion
The Securities and Exchange Board of India (Sebi) is planning to tighten the eligibility criteria for inclusion of stocks into the equity derivatives segment, said three people with knowledge of the matter. The stricter rules could restrict the entry of various thinly-traded stocks into futures and options, they said. The proposal was discussed in a recent Sebi-appointed Secondary Market Advisory Committee (SMAC) meeting. The capital markets regulator has sought feedback from the committee members on the matter, the people in the know said.
Stocks in Asia boosted by Japan
- S&P 500 futures rose 0.1% as of 9:26 a.m. in Tokyo
- Nasdaq 100 futures climbed 0.2%
- Japan’s Topix index added 1.9%
- South Korea’s Kospi index lost 0.1%
- Australia’s S&P/ASX 200 index shed 0.5%
- Euro Stoxx 50 futures decreased 0.1%
Quarterly earnings today
LIC, ONGC, Grasim, Divi’s Laboratories, Hindustan Aeronautics, UPL, Info Edge (India) and Hero MotoCorp are among top firms set to report their quarterly earnings today.
SGX Nifty signals a flat start
Nifty futures on the Singapore Exchange traded 19 points, or 0.10 per cent, higher at 17,672, signaling that Dalal Street was headed for a muted start on Thursday.
Tech View: Nifty50 forms small bearish candle
“If we draw a trendline connecting the October 2021 high and subsequent highs, the Nifty50 is now steadily approaching the resistance zone of 17,900-18,000. This is a make or a break range for the Nifty50. If the index fails to move beyond 18,000, we could see a serious decline coming in,” said independent analyst Manish Shah.
Oil prices on track for weekly gain as recession fears ease
Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased. Brent crude futures fell 34 cents, or 0.3%, to $99.26 a barrel at 0112 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.3%, to $94.00 a barrel.
Nasdaq retreats as rate hike fears cool stock rally
The Nasdaq retreated to close lower on Thursday despite fresh evidence of cooling inflation on the realization the Federal Reserve still needs to aggressively boost interest rates to fully tame rising consumer pThe S&P 500 retreated after earlier hitting fresh three-month highs after data showed the U.S. producer price index unexpectedly fell in July.
Rupee falls 37 paise to close at 79.62 against US dollar
The rupee depreciated by 37 paise to close at 79.62 against the US dollar on Thursday despite sustained foreign capital inflows and a positive trend in equities. At the interbank foreign exchange market, the local currency opened at 79.22 and saw an intra-day high of 79.22 and a low of 79.94 against the American currency. It finally ended at 79.62, down 37 paise over its previous close of 79.25.
Sensex, Nifty on Thursday
India’s equity indices rose to a four-month high on Thursday, mirroring the overnight gains on Wall Street, after softer-than-expected consumer inflation in the US, which raised hopes of slower interest rate increases by the American central bank. BSE’s Sensex gained 515.3 points, or 0.88%, to close at 59,332 – the highest closing since April 8. The NSE Nifty rose 124.2 points, or 0.71%, to close at 17,659 – its highest closing since April 11.