India's stock market is experiencing a significant rally, driven by a transformation in its financial system that has made capital markets accessible to millions of small investors through fintech innovations. This surge raises questions about the resilience of the financial system and the potential consequences if challenges arise.
The combined average daily turnover in the F&O segment across both exchanges has dropped by 16% month-on-month, reaching a seven-month low of Rs 334.69 lakh crore. This decline is particularly notable in index futures, which saw their steepest drop since July, while stock futures and options recorded their largest one-year decline, and index options experienced their sharpest fall since July.
Concerns regarding corporate governance in the small-and-medium enterprises (SME) segment of the capital market have been highlighted by SEBI's Ashwani Bhatia. Speaking at the Corporate Governance Summit, he emphasized the importance of regulation amidst the segment's growth, which has seen market capitalisation reach Rs 2 lakh crore. Bhatia cautioned against prioritizing market capitalisation at the expense of ethical practices, stating, "The quest for market capitalisation should not end up as a race to the bottom."
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed on November 20 due to the Maharashtra Assembly polls. Trading in various segments, including derivatives and equities, will be halted for the day, while commodity derivatives will operate in the evening session. Normal trading will resume on November 21.
The Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) will be closed on November 15 in observance of Guru Nanak Jayanti. All trading activities, including derivatives, equities, and currency derivatives, will be halted for the day. The commodity derivatives segment will be closed in the morning but will operate in the evening from 5:00 p.m. to 11:55 p.m. Trading will resume on November 18 (Monday).
The National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) will remain open on October 31, 2024, but will observe a holiday on November 1 for Diwali. A ceremonial Muhurat Trading session will take place on November 1, believed to bring prosperity for the coming year. Investors should plan their trades accordingly.
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