Former FM says markets have taken a dim view of the 'virtually coerced investment by SBI and private sector banks in the equity of failed YES Bank'
According to a Business Standard report, the Securities and Exchange Board of India is working on a plan to arrest the deep market sell-off and reduce volatility
Better bargains may be available in the next few months
Valuation computations for proposed deals go awry
We need to learn from China and ban short-selling. This would reduce the speculative hammering of the stocks and thereby help in stabilising the markets.
Given this scenario, the market correction is unprecedented as data points did not suggest this kind of mayhem
The Nifty50 breached 8,800 levels for the first time since February 2017, a 3-year low. The S&P BSE Sensex plunged more than 3,000 points to hit a three-year low on Friday
The State Bank of India yesterday said it would infuse Rs 7,250 crore into ailing YES Bank to pick up to 49 per cent equity as part of the Reserve Bank of India-mandated bailout plan
Sensex tumbles 2,919 points, biggest-ever in absolute terms. Over Rs 11 trillion worth of investor wealth wiped out. Global stock rout deepens amid growth concerns
January's industrial and manufacturing production data and retail inflation for February are slated to be declared later in the day
The carnage in the equity market wiped out investor wealth worth Rs 6,84,277.65 crore, taking the total m-cap to Rs 1,37,46,946.76 crore on the BSE at the end of Monday's trading session.
The m-cap of BSE-listed companies stood at Rs 1,44,31,224.41 crore at the end of trading on Friday.
The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank
Yesterday, the SBI said its board had given in-principle approval to consider an "investment opportunity" in YES Bank although no decision had yet been taken to pick up stake in the bank
Telecom stocks are likely to remain in focus today as the government on Wednesday asked Bharti Airtel, Vodafone Idea and other telecom companies to pay remaining AGR dues as per the SC order
Apart from the coronavirus newsflow, investors will await the release of India Service PMI numbers for February to be released today
Today is the second day for SBI Card's IPO. Despite the volatility in the market, the Rs 10,350-crore initial public offering of SBI Cards and Payment Services was off to a good a start on Monday
In the primary market, the initial public offer of SBI Cards and Payment Services will open today. The company expects to raise around Rs 10,341 crore from the IPO
Investors will also await the GDP numbers for the third quarter of FY20 to be released later in the day. Most experts peg the number closer to 5 per cent
Adding to the cautious mood on the Dalal Street will be the expiry of the February series derivative contracts today and the release of the Q3 GDP data tomorrow