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Monday, October 21, 2013

NSE To Conduct 75-Minute Muhurat Trading On Diwali
The National Stock Exchange (NSE) said a special muhurat live trading session will be held on November 3, on account of Diwali. The stock market would open from 18.15 hrs on November 3 and would close at 19.30 hrs, the NSE said in a circular. "All trades executed in this Diwali muhurat trading session shall result in settlement obligations," it said.

Investor Wealth Surges Over Rs 1 lakh Crore
Investors last Friday became richer by over Rs 1 lakh crore, with benchmark Sensex witnessing 460-point rally amid easing concerns over the US tapering. With BSE benchmark Sensex surging 467.38 points, or 2.29%, to 20,882.89, the highest level in almost three years, investor wealth soared by Rs 1.07 lakh crore to Rs 67,23,852.78 crore. The broader National Stock Exchange index Nifty shot-up by 143.50 points, or 2.37%, to close at 6,189.35. As many as 75 stocks hit their fresh 52-week high on the BSE.

BSE Permits Block Deals For Illiquid Scrips
Leading stock exchange BSE has allowed block deals for illiquid stocks trading in the periodic call auction sessions. All illiquid scrips in the equity market are conducted only through periodic call auction sessions. "Trading Members of the Exchange are hereby informed that Block Deals are allowed to be executed in the scrips trading in Periodic Call Auction Session through Block Deal Window," BSE said in a notification.

OVL Blocks Chinese Bid, To Buy Stake In Brazilian Oilfield
In a first by an Indian firm, ONGC Videsh Ltd (OVL) has exercised its pre-emption rights to block China's Sinochem Group from buying 35% interest in a Brazilian oilfield for USD 1.54 billion. OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), in collaboration with Royal Dutch Shell will buy the 35% stake in block BC-10, known as Parque das Conchas, that Brazil's Petrobras had planned to sell to Sinochem, sources with direct knowledge of the development said.

Sebi Notice To Attach Bank Accounts In IPO Fraud Case
Sebi has ordered attachment of bank accounts of three individuals to recover penalties worth over Rs 12 crore slapped on them for irregularities in initial public offers (IPOs) of various firms between 2003-05. The market regulator had imposed penalties on Roopalben Nareshbhai Panchal, Arjav Nareshbhai Panchal and Biren Kantilal Shah for cornering shares in the IPOs of IDFC, NTPC, Tata Consultancy Services, Suzlon Energy and Yes Bank, among others.

S&P Rises To New High Boosted By Earnings
S&P 500 extended its recent gains to hit a fresh high as Wall Street cheered some better-than-expected corporate earnings results. Google soared more than 12% to top USD 1000 a share for the first time, after the search-engine giant posted better-than-expected earnings on Thursday after the closing bell. At least 16 brokerages raised their price targets on the stock to between USD 880 and USD 1,220, with Deutsche Bank bumping up its target price by 26%. The stock is up nearly 40% year to date.

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