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BSE Ltd shares fell over 5% after Goldman Sachs cut its target price from ₹5,650 to ₹4,880, citing concerns over SEBI's proposed regulatory changes that could impact proprietary trading, which drives 70% of BSE's trading volumes. Additionally, legal scrutiny surrounding BSE officials adds to investor anxiety, following a court's directive to register an FIR related to past listing irregularities. Despite a strong performance over the past year, recent developments suggest potential challenges ahead for the exchange.
Goldman Sachs has lowered its target price for BSE shares to Rs 4,880 from Rs 5,650, maintaining a "neutral" rating, citing potential impacts from upcoming regulatory changes affecting proprietary traders, who contribute nearly 70% of BSE's average daily turnover. Shares of BSE Ltd fell by 5.1% to Rs 4,395.7 following the announcement. Additionally, BSE faces legal scrutiny related to alleged irregularities in a 1994 listing permission, although SEBI has dismissed the complaint as "frivolous." Despite these challenges, BSE shares have risen approximately 92.87% over the past year.
Goldman Sachs has reduced its target price for BSE Ltd. shares from Rs 5,650 to Rs 4,880, maintaining a neutral rating, due to proposed changes by SEBI that may decrease activity from proprietary traders. The regulator's new risk measurement approach aims to align derivatives risk with cash market liquidity, potentially lowering the industry's options premium. This shift could limit excessive volatility and manipulation in the markets.
Shares of BSE Ltd have surged over 19% in three days, reaching a record high of Rs 5,409.65 on December 6, following a 14% jump in the previous session. The stock is currently trading at Rs 5,360.95, supported by a significant increase in trading volumes, with 35 lakh shares exchanged, surpassing the one-month daily average.
Indian equity markets rebounded on December 5, with the Sensex rising 809.53 points to 81,765.86 and the Nifty up 240.95 points to 24,708.40, driven by strong FII inflows and positive global sentiment following comments from US Federal Reserve Chairman Jerome Powell.Central Depository Services (CDSL) shares hit an all-time high, gaining 8%, while the Nifty IT index rose 2% amid optimism for US tech stocks. In contrast, Genus Power fell 5% after a search by enforcement officials, and Divi's Laboratories dropped 3% due to patent issues affecting a key drug.
Indian equity markets rebounded sharply on November 29, with the BSE Sensex rising 789 points to 79,832 and the NSE Nifty gaining 239 points to 24,153. This rally was fueled by strong domestic buying, attractive valuations following recent corrections, and renewed confidence in India's growth story. Market breadth was positive, with 1,904 shares advancing against 1,460 declining.
Tata Mutual Fund has launched the Tata BSE Select Business Group Index Fund, which tracks the BSE Select Business Groups Index. This fund features 30 companies from seven of India's largest business groups across 19 industries, deliberately excluding the financial services sector to emphasize other growth-driving industries.
Indian equity markets faced significant losses on November 28, with the BSE Sensex dropping 931 points (1.2%) to 79,302 and the NSE Nifty falling 274 points to 24,000. The decline was driven by weakness in IT and auto stocks, compounded by a stronger US dollar impacting emerging-market assets. Despite the downturn, market breadth remained positive with 1,865 shares advancing against 1,510 declining.
BSE Sensex and NSE Nifty experienced a significant pullback after reaching intraday highs, with Sensex down 600 points from its peak and Nifty facing resistance at 24,350. Despite a strong opening, selling pressure led to a retreat, and analysts warn of broader challenges ahead, projecting Nifty could drop to 22,000 amid modest earnings growth forecasts.
Indian equity indices closed lower for the second consecutive session on October 31, with the Sensex down 553.12 points at 79,389.06 and the Nifty down 135.50 points at 24,205.35. In October, the BSE Sensex fell by 5.8 percent, while the Nifty50 dropped 6.2 percent, driven by selling in the IT, FMCG, and banking sectors amid mixed global cues.
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