IDBI Capital Markets & Securities paid Rs 13 lakh in settlement charges to markets regulator, SEBI, regarding alleged violations of stock broker norms. The firm opted to settle the instant proceedings started against it, without admitting or denying the findings in the matter. Notably, SEBI began a probe into the trading activities of Kajal Ilesh Savla in the securities market and conducted an investigation during January 2019 to July 2022, reported PTI.
Background
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The stock markets experienced a difficult trading week as the indices closed trading in the red after erasing the gains from the week. The BSE Sensex closed the last trading session at 72,485, down by over 450 points, while the NSE Nifty50 stood 123 points lower at 22,023.
In the week ahead, investors will keenly be on the lookout for foreign fund flows, rupee-dollar movements, the outcome of the US Fed policy rate meeting, along global trends. The US Federal Reserve will hold its monetary policy meeting, starting on March 19, 2024, and will announce the interest rate decision after the two-day meeting on March 20, 2024.
Experts believe that the US Fed will maintain the status quo on the interest rates. The Bank of Japan (BoJ) is also set to reveal its interest rate decision on Tuesday, followed by the Bank of England (BoE) coming out with its rate call on Thursday.
Further, more economic data from major nations is expected to be released in the coming weeks. The UK and the US are set to reveal their S&P Global Manufacturing and Services PMI data. Other important macroeconomic data expected ahead includes industrial production, unemployment figures from China, along with inflation data from the Eurozone, trade balance, and inflation figures from the UK and Japan. Domestically, the HSBC Manufacturing, Services, and Composite PMI data for India is scheduled to be released on Thursday.
The trading activity of foreign portfolio investors (FPIs) will also remain under watch as the investors lately started becoming consistent with their influx in the Indian market. The official data from the depositories revealed that FPIs poured Rs 40,710 crore into Indian equities and the overall influx stood at Rs 50,471 crore, as of March 15, 2024.