MARKETS LIVE: F&O expiry, global cues to keep indices choppy

February 22
09:25 2018

Sebi permits clearing corps at IFSC to accept cash as trade collateral Markets regulator Sebi on Wednesday allowed clearing corporations at international financial services centres (IFSCs) to accept cash and cash equivalents as collateral for trades in all product categories. Cash and cash equivalents will include major foreign currencies as may be decided by the clearing corporation from time to time, term deposit receipts and bank guarantees issued by bank branches located in IFSC. READ MORE Bajaj Finserv, Grasim and Titan to be part of Nifty 50 index from April 2 IISL, the index provider for National Stock Exchange(NSE), has included Bajaj Finserv, Grasim Industries and Titan in the Nifty 50 index. In a press release on Wednesday, the index provider said the three companies were being added as a substitute for Ambuja Cements, Aurobindo Pharma and Bosch who will cease to be a part of the index. READ MORE PNB 114 billion scam: Govt weighs bank’s recapitalisation hike The recapitalisation amount earmarked for Punjab National Bank by the Centre is set to increase with the unravelling of the Rs 114 billion letters of undertaking (LoUs) scam. PNB’s performance metrics are also being reviewed to see if it requires to be put on the Reserve Bank of India’s list for prompt corrective action (PCA), sources familiar with the developments said. CLICK HERE FOR FULL STORY News Watch PNB scam: DGFT to examine violations by Nirav Modi, Mehul Choksi firms The Directorate General of Foreign Trade (DGFT) has initiated an internal probe to examine whether companies belonging to Nirav Modi and Mehul Choksi, the prime accused in the Rs 114 billion Punjab National Bank fraud case, followed foreign trade guidelines while taking loans from banks. READ MORE   Markets at pre-open Index Current Pt. Change % Change   S&P BSE SENSEX 33,897.50 +52.64 +0.16   S&P BSE SENSEX 50 10,872.34 +15.69 +0.14   S&P BSE SENSEX Next 50 33,675.12 -22.16 -0.07   S&P BSE 100 10,781.20 +12.02 +0.11   S&P BSE Bharat 22 Index 3,585.93 +6.01 +0.17 Prospects of southern cement firms healthy as SC lifts sand mining ban Southern India-based cement firms, which had been affected by weak demand because of lower realisations and profitability, have reason to celebrate. Earlier this month, the Supreme Court lifted the ban on sand mining, which should prop up construction, demand and profitability.   In the December quarter, average price of a 50 kg bag stood at Rs 301, lower than Rs 344 a year ago. Analysts said Tamil Nadu was the weakest link with sand mining bans taking a toll on demand and margins. READ MORE

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