Trading

TCS close trading with over Rs 7 trillion

Tata Consultancy Services (TCS) became the first company to close the trading session with a market valuation of over Rs 7 trillion. The Mumbai-headquartered TCS had in April became the first Indian company to close the trading session with over $100 billion market valuation. TCS is the country’s most valued firm followed by Reliance Industries Ltd, HDFC Bank, HUL and ITC in the top 5 list.

Microsoft becomes third most valuable firm

Microsoft has surpassed Alphabet, in the market capitalisation for the first time in 3 years, becoming the 3rd most valuable firm after Apple & Amazon globally. On May 29, 2018, Microsoft reportedly had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet. Apple leads with a market cap of $924 billion & Amazon is at second spot with nearly $783 billion.

Approval for petrol, diesel futures

The oil ministry has given its in-principle approval for futures trading in petrol as well as diesel. The Indian Commodity Exchange (ICEX) had approached SEBI seeking its nod to launch petrol and diesel futures contracts. The contracts are expected to help hedge against volatility in oil prices.

Govt to link 200 more mandis to eNAM

The government will link additional 200 wholesale mandis to the online trading platform eNAM this fiscal and also encourage inter-mandi transactions. Online trading on the eNAM platform can be done through the website, trading platform or the Mobile App. At present, 585 regulated mandis in 14 States are linked with the electronic National Agriculture Market (eNAM) launched in April 2016.

NSE introduces ‘managed co-location services’

In order to facilitate small and medium-sized trading members, NSE introduced a facility of ‘managed co-location service’. In this facility, space will be provided to vendors along with provision for receiving market data. This facility enables the co-located entities to access the trade/order related data before other non-co-located entities.

BSE to launch commodity derivatives trading

Bombay Stock Exchange has decided to launch trading in the commodity derivatives segment from October 1. BSE will begin commodity derivatives with non-agriculture commodities like metals, energy and base metals. A derivative is a contract between two parties which derives its value/price from an underlying asset. The most common types of derivatives are futures, options, forwards and swaps.

Exchanges allowed to extend trading time

Markets regulator SEBI allowed stock exchanges to extend trading in equity derivatives by over 8.5 hours to bring the timings in line with commodity markets. It has allowed exchanges to set trading hours in equity derivatives between 9:00 am and 11:55 pm, effective October 1, 2018. As of now, trading is allowed from 9:15 am till 3:30 pm.

Kotak launches Free Intraday Trading facility

Kotak Securities has unveiled ‘Free Intraday Trading’ facility, allowing investors to trade intra-day without paying brokerage charges. Investors can do intra-day trades across cash, future and options segments at an annual subscription of Rs. 999. Intra-day trading refers to trades in which investors buy and sell the shares within the same trading session.

Govt approves pacts for supply of iron

The Cabinet approved a long-term agreement for export of iron to Japan and South Korea through state-owned trading firm MMTC.The range of quantity of iron ore to be exported would be 3.8 million tonnes per annum to 5.5 million tonnes per annum. MMTC will be supplying iron ore of grade 64 Fe, or high-grade content, to Japanese and Korean steel mills from Bailadila mines in Chhattisgarh.

SEBI eases trade rules in commodity exchanges

To relax algorithm trading norms at commodity derivatives exchanges, SEBI raised the limit to process up to 100 orders per second by a user for such trade from the existing limit of 20 orders per second.Algorithmic trading or ‘algo’ in market parlance refers to orders generated at a super-fast speed by use of advanced mathematical models. ‘Algo’ is used by large institutional investors.