After a world-beating advance this year, India’s stock market outlook might be turning amid the financial-industry turmoil.
SEBI is looking into whether brokers and investors colluded during the sharp selloff and subsequent recovery in financial shares.
S&P BSE Sensex dropped as much as 3 percent, its widest intraday range in more than four years after Yes Bank, Dewan Housing fall.
A panel headed by Finance Minister Jaitley recommended a merger that will result in third-largest lender in the country by loans.
India is trying to woo foreign investors across different time zones to trade onshore.
The measures will probably include steps to curb the decline in the rupee and oil prices, a government official told reporters.
Sensex Extends Loss After Worst Week Since June as Rupee Slides
India’s top hedge fund has raised its cash holdings to a record 65% of its assets as the rupee hit multiple lows.
The shares plunged as much as 7.1 percent and were trading 4.9 percent lower at 344 rupees as of 10:26 a.m. in Mumbai.
A rebuff from the regulator may set Asia’s richest banker Uday Kotak on a $17 billion acquisition trail.
Sensex climbed 12 percent this year, the most among regional gauges, as domestic spending spurred earnings and economic growth.
Sensex rallied 11 percent this year, boosted by a revival in economic growth and company earnings, BNP Paribas said.
Sensex Extends Fourth Weekly Gain on Profit-Revival Optimism
Despite U.S-China trade war, India’s stock price swings, along with improving company earnings could be rewarding for investors.
Most Indian Stocks Gain as Sensex Index Trades at Record High
India’s Sensex Surges to Record High as Bank Stocks Gain
All seem to agree that the big focus for investors now is next year’s election.
Focus of the BJP government will be on clean energy and rural development, Modi said on Sunday.
The regulators’ move is the latest effort to resolve a quarrel that erupted earlier this year.
India’s standing with global Indexes could be in jeopardy.
Not chasing returns has helped Axis Asset Management Co. to ride the wave of volatility in Indian markets.