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Reuters
3 days ago
- Business
- Reuters
Indian shares set to open higher after growth boost
Indian equity benchmarks are set to open higher on Monday, underpinned by a stronger-than-expected domestic economic growth in the March quarter. Gift Nifty futures were trading at 24,841.5 as of 8:07 a.m. IST, indicating a firm start above Nifty 50's (.NSEI), opens new tab close of 24,750.7 on Friday. India's economy surged 7.4% in the January-March quarter, much faster than forecasts and driven by construction and manufacturing. Analysts expect the upbeat data, along with favorable macro indicators such as early monsoon onset and a benign inflation outlook, to support market momentum despite global uncertainties. Markets are pricing in a 25-basis-points rate cut by the Reserve Bank of India (RBI) at its June 6 policy meeting, which could lift sentiment in rate-sensitive sectors such as financials, autos, real estate and consumer goods. Although the Nifty and Sensex (.BSESN), opens new tab dipped slightly on Friday, both indexes gained for the third straight month, buoyed by institutional flows, improving corporate earnings and easing trade tensions. However, the indexes remained about 6% below their record highs hit on September 27, 2024. Foreign portfolio investors (FPI) turned net sellers on Friday after five sessions of buying but were net buyers for May, with inflows totaling $2.34 billion - the highest monthly total since September 2024. Sector-wise, auto stocks will be in focus as investors assess the monthly sales figures. Broader Asian markets opened lower amid investor caution ahead of key U.S. jobs and manufacturing data due this week and ongoing trade policy uncertainties. ** Apollo Hospitals ( opens new tab posts fourth-quarter profit above estimates, helped by higher demand for its healthcare services. ** Beauty products retailer Nykaa ( opens new tab reports a fourth-quarter profit that nearly tripled year-on-year as premium brands continued to attract urban consumers. ** Indian Oil Corporation ( opens new tab finalises the country's largest green hydrogen project, setting up a 10,000 tonnes per annum green hydrogen unit in Panipat. ** Cipla ( opens new tab gets one observation in form 483 after a U.S. drug regulator inspection at its Bommasandra plant in Bengaluru.
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Business Standard
16-05-2025
- Business
- Business Standard
Sebi extends deadline for FPI ODI issuance framework to Nov 17
Markets regulator Sebi on Friday extended the timeline for implementing the framework regarding tightening of rules on issuance of offshore derivative instruments (ODIs) by FPIs to November 17. Sebi, in December, came out with the framework, which was to become effective from May 17. The framework provides for additional disclosures to be made by ODI subscribers and FPIs (Foreign Portfolio Investors) with segregated portfolios. "Based on representations received from market participants and in order to ensure smooth implementation of the said circular (issued in December), it has been decided to extend the timeline, ...to November 17, 2025," Sebi said in a circular. The circular proposed to prohibit FPIs from issuing ODIs with derivatives as the underlying or using derivatives to hedge their ODIs in India. This was aimed at addressing regulatory arbitrage for ODIs and FPIs with segregated portfolios. Further, FPIs cannot hedge ODIs with derivatives on Indian stock exchanges. ODIs must only reference securities (non-derivatives) and must be fully hedged one-to-one with the same securities. On separate registration for ODIs, Sebi had stated that FPIs issuing ODIs must have a separate, dedicated registration. This registration will have the suffix ODI under the same PAN. For existing FPIs, adding the suffix would not be treated as a name change and a separate registration would not be required for ODIs with government securities as the underlying. Sebi mandated that ODI subscribers disclose detailed ownership information, up to the level of natural persons, if they meet either of the following criteria: their equity ODI positions account for 50 per cent or more of securities linked to a single Indian corporate group, or their total equity positions in Indian markets exceed Rs 25,000 crore. This includes ODI positions taken through one or multiple FPIs, holdings of entities with common ownership or control, and equity holdings as a registered FPI. Certain entities such as government and government-related investors registered under FPI regulations, Public Retail Funds (PRFs), subject to validation and Exchange Traded Funds (ETFs) with less than 50 per cent exposure to Indian equity markets are exempt from these disclosure.
Time of India
16-05-2025
- Business
- Time of India
Sebi extends timeline for implementing framework on issuance of ODIs by FPIs to Nov 17
Markets regulator Sebi on Friday extended the timeline for implementing the framework regarding tightening of rules on issuance of offshore derivative instruments (ODIs) by FPIs to November 17. Sebi, in December, came out with the framework, which was to become effective from May 17. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Rolls-Royce Of Hearing Aids (And Under $100) Top Trending News Today Learn More Undo The framework provides for additional disclosures to be made by ODI subscribers and FPIs ( Foreign Portfolio Investors ) with segregated portfolios. "Based on representations received from market participants and in order to ensure smooth implementation of the said circular (issued in December), it has been decided to extend the timeline, ...to November 17, 2025," Sebi said in a circular. The circular proposed to prohibit FPIs from issuing ODIs with derivatives as the underlying or using derivatives to hedge their ODIs in India. This was aimed at addressing regulatory arbitrage for ODIs and FPIs with segregated portfolios. Live Events Further, FPIs cannot hedge ODIs with derivatives on Indian stock exchanges . ODIs must only reference securities (non-derivatives) and must be fully hedged one-to-one with the same securities. On separate registration for ODIs, Sebi had stated that FPIs issuing ODIs must have a separate, dedicated registration. This registration will have the suffix "ODI" under the same PAN. For existing FPIs, adding the suffix would not be treated as a name change and a separate registration would not be required for ODIs with government securities as the underlying. Sebi mandated that ODI subscribers disclose detailed ownership information, up to the level of natural persons, if they meet either of the following criteria: their equity ODI positions account for 50 per cent or more of securities linked to a single Indian corporate group, or their total equity positions in Indian markets exceed Rs 25,000 crore. This includes ODI positions taken through one or multiple FPIs, holdings of entities with common ownership or control, and equity holdings as a registered FPI . Certain entities such as government and government-related investors registered under FPI regulations, Public Retail Funds (PRFs), subject to validation and Exchange Traded Funds (ETFs) with less than 50 per cent exposure to Indian equity markets are exempt from these disclosure.
Mint
15-05-2025
- Business
- Mint
Stocks to buy for short term: Nagaraj Shetti suggests Ujjivan Small Finance Bank, Mphasis shares; do you own?
Stock market today: India's stock indices dipped on Thursday, pressured by high-weight financial stocks, as the global upsurge fueled by the US-China trade thaw came to a halt. The Nifty 50 declined by 0.24% to 24,606.65, while the Sensex fell by 0.30% to 81,088.81 as of 11:24 IST. Market observers noted that the inflow of Foreign Portfolio Investors (FPIs), which had bolstered the recent upward trend, appears to be reversing. Analysts attribute this change to developing global sentiments, particularly amid worries regarding the US-China trade agreement. Experts indicated that the market might soon adopt a "Sell India, Buy China" approach, although some consolidation could occur in the short term. Nagaraj Shetti of HDFC Securities expects Nifty 50 to find support around 24,500-24,400 levels in the short term. According to Shetti any weakness down to the supports could be a buy on dips opportunity. Nagaraj Shetti recommends Ujjivan Small Finance Bank Ltd, and Mphasis shares to buy. Nifty 50 continued to show consolidation movement on Thursday and is currently trading lower by 130 points. Nifty 50 is currently moving within a broader range and is expected to find support around 24,500-24,400 levels in the short term. Hence any weakness down to the supports could be a buy on dips opportunity. Immediate resistance is placed at 24,750. Nagaraj Shetti of HDFC Securities recommends these two stocks to buy in the short-term - Ujjivan Small Finance Bank Ltd, and Mphasis Ltd. The midcap banking stock has been in a sustainable uptrend over the last few weeks. We observe bullish chart pattern like higher tops and bottoms. The daily and weekly RSI shows positive indication. The IT stock price has been in an uptrend as per the bullish pattern like higher tops and bottoms over the last one month. It witnessed an upside breakout of crucial overhead resistance of 2,550 levels and is currently trading higher. Volume pattern and daily RSI indicates more upside for the near term. Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
