Thursday, March 12
The US SEC has requested information from SEBI regarding its investigation into Jane Street for alleged manipulation of India's derivatives market. SEBI has responded to the SEC's queries, adhering to IOSCO guidelines. Jane Street faces allegations of manipulating the Bank Nifty Index, with SEBI imposing and then conditionally lifting a trading ban after the firm deposited alleged illegal gains.
India's IPO market is set for a surge in the second half of 2025, with companies aiming to raise Rs 2.58 lakh crore. This follows a strong first half, driven by robust investor demand and mutual fund participation. Several major IPOs are in the pipeline, fueled by private equity exits and confidence in market resilience.
Stock market today: The NSE Nifty advanced by 159 points or 0.63 per cent, finishing at 25,219.90. The BSE Sensex rose by 539.83 points or 0.66 per cent, closing at 82,726.64. During trading hours, it reached a peak of 82,786.43, showing an increase of 599.62 points or 0.72 per cent.
Amid global uncertainties, the RBI emphasizes India's strategic opportunity to strengthen trade ties, particularly with the upcoming UK FTA. Domestic economic activity remains steady, supported by a good kharif crop and strong services momentum. Headline retail inflation stays below 4%, while the external sector remains stable with ample forex reserves.
Asian markets are near a four-year high, buoyed by Wall Street's record close and optimism about corporate earnings. Investors are closely monitoring global trade developments, particularly US tariff talks. Despite a setback in weekend elections, Japan's Prime Minister intends to remain in office, with markets reacting calmly.
Gold prices in the national capital surged by Rs 1,000, reaching Rs 1,00,020 per 10 grams, driven by strong buying from stockists. Silver also saw a significant increase, climbing Rs 3,000 to Rs 1,14,000 per kilogram. Globally, spot gold experienced a slight dip as investors await insights from US Federal Reserve officials and key economic data releases.
Paytm achieved a net profit of Rs 123 crore in the June quarter, marking a turnaround after previous losses, driven by cost-cutting measures and AI integration. Revenue surged to Rs 1,917.5 crore, a 28% year-on-year increase, fueled by merchant subscriptions and financial services distribution.
Stock market today: The NSE Nifty 50 increased by 122.30 points or 0.49 per cent to 25,090.70. The market received additional support from positive Asian markets and fresh foreign fund inflows.
The Indian government is likely to support Chinese investments in the electronics sector through joint ventures with Indian companies, emphasizing technology transfer over mere assembly. This approach aims to bolster domestic manufacturing capabilities and value addition.
Jane Street has been permitted by SEBI to resume trading in Indian stock markets, although exchanges are yet to facilitate their trades. While SEBI monitors closely, Jane Street has committed to refrain from options trading and cash transactions until clarifying past trades.
