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The BSE MidCap and SmallCap indices have surged nearly 9% since November 13, with the MidCap just 4% shy of its record high and the SmallCap only 1% away. Despite this rally following a significant correction, analysts warn of overvaluation risks and recommend a selective investment approach rather than a broad strategy.
Mid- and small-cap indices outperformed broader markets for the third consecutive week, with the BSE Sensex rising 1,906.33 points (2.38%) to 81,709.12 and the Nifty50 adding 546.7 points (2.26%) to close at 24,677.8. The BSE Mid-cap and Small-cap indices increased by 3.5% and 3.3%, respectively, supported by positive cues and net buying from foreign institutional investors. Sectorally, Nifty Realty and PSU Bank indices surged by 5%, while Nifty Metal and Media rose by 4%.
C2C Advanced Systems has finalized its IPO allotment amid regulatory scrutiny, with a significant withdrawal of 3.72 lakh applications valued at Rs 27 crore. The IPO's grey market premium has surged to nearly 90% following the allotment date. Investors can check their allotment status on the Link Intime India Pvt Ltd website or through the BSE and NSE platforms.
The broader indices continued their rally for a second week, with the BSE Sensex gaining 685.68 points (0.86%) to close at 79,802.79, and the Nifty50 rising 223.85 points (0.93%) to finish at 24,131.10. In November, the Sensex increased by 0.5%, while the Nifty fell by 0.30%. The BSE Midcap, Smallcap, and Largecap indices rose by 2.3%, 5%, and 1.6%, respectively, with notable gains in the Nifty Media (5.5%) and PSU Bank (4.7%) sectors, while Nifty Auto and IT indices declined by 0.5% each.
Fundraising through debt issues saw a significant decline of 40% month-on-month in October, according to the SEBI bulletin. The total amount raised dropped to ₹76,752 crore, with public issues contributing ₹670 crore and private placements at ₹76,082 crore. Additionally, fundraising through InvITs plummeted nearly 90%, falling to ₹694 crore from ₹6,666 crore in September.
The Securities and Exchange Board of India (SEBI) received a gold medal for its pavilion at the 43rd India International Trade Fair (IITF) under the Public Communication and Outreach category. The award was presented by ITPO Chairman Shri Pradeep Singh Kharola on November 27, 2024, recognizing SEBI's efforts to enhance investor awareness through various activities, including puppet shows and expert talks. The pavilion, themed 'BHARAT KAA SHARE BAZAAR,' was organized in collaboration with multiple financial institutions and ran from November 14-27, 2024, at Bharat Mandapam, Pragati Maidan, New Delhi.
Indian benchmark indices rebounded on November 29, with Nifty starting the December F&O series above 24,100, driven by strong buying across sectors, except for realty and PSU banks. The Sensex rose by 759.05 points to close at 79,802.79, while Nifty gained 216.90 points, increasing investors' wealth by approximately Rs 3.49 lakh crore. For the week, both indices recorded a 1% gain, with the Sensex up 0.5% and Nifty down 0.30% for November.
BSE is set to change the expiry days for derivative contracts of Sensex, Bankex, and Sensex 50 starting January 1, moving weekly expiries to Tuesday and monthly expiries to the last Tuesday of the month. This shift aims to reduce volatility and free up capital for traders, allowing for greater flexibility in reinvesting and trading throughout the week. Experts believe this change will enhance trading activities by alleviating the concentration of expiries on consecutive days.
Starting January 1, 2025, the expiry days for monthly contracts of Sensex, Bankex, and Sensex 50 will shift to the last Tuesday of each month. Currently, these contracts expire on the last Friday, last Monday, and Thursday, respectively. Additionally, quarterly and semi-annual contracts for Sensex will now expire on the Tuesday of the expiry month, changing from the last Friday.
The Securities and Exchange Board of India (SEBI) has mandated that the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) serve as alternative trading venues for each other, effective April 1, 2025. This decision aims to ensure business continuity, with both exchanges required to develop a joint Standard Operating Procedure (SOP) detailing their roles and responsibilities during outages. The SOP must be submitted to SEBI within 60 days of the circular's issuance.
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