Zerodha Technical Issue: User Reports Rs 10 Lakh Loss

Brief by Shorts91 Newsdesk / 10:24am on 09 Jul 2024,Tuesday Business

Zerodha users reported a technical issue on Monday, preventing orders from being executed, resulting in financial losses. A user claimed a loss of Rs 10 lakh due to a developer's bug or implementation issue. The issue was shared on social media, sparking criticism and frustration among users. The platform's technical problem affected trading, leading to significant losses. The company's response to the issue is awaited. The incident highlights the importance of robust technology in online trading platforms. No official statement has been released by Zerodha regarding the issue or the user's claim.

Read More at India Today

Indian Stocks Open Higher, Sensex Up 0.21% to 80,129

Brief by Shorts91 Newsdesk / 05:50am on 09 Jul 2024,Tuesday Business

Indian stock markets opened on a positive note on Tuesday, with BSE Sensex rising nearly 200 points to 80,129.03 and Nifty50 trading above 24,350. The gains are attributed to a consolidation phase, as investors realize some gains due to a lack of significant catalysts to justify current premium valuations. Analysts suggest that markets are taking a breather, leading to a slight uptick. The rally is seen as a minor correction, with investors waiting for new triggers to drive the market further. The current trend indicates a cautious optimism in the market.

Read More at The Times Of India

CJI DY Chandrachud Warns SEBI, SAT to Exercise Caution Amid Market Surge

Brief by Shorts91 Newsdesk / 09:36am on 04 Jul 2024,Thursday Business

Chief Justice of India DY Chandrachud urged market regulator SEBI and the Securities Appellate Tribunal (SAT) to exercise caution amid the significant surge in equity markets. Inaugurating new SAT premises, he emphasized the need for additional tribunal benches to ensure stability. With higher transaction volumes and new regulations, CJI Chandrachud highlighted the importance of regulatory vigilance. He referenced recent media articles celebrating the Bombay Stock Exchange's milestone of 80,000 points, stressing the need for authorities to remain balanced and calm amidst market wins. His remarks come as a reminder to maintain stability in the market.

Read More at NDTV

Sensex Hits 80,000: Analysts See More Upside

Brief by Shorts91 Newsdesk / 10:01am on 03 Jul 2024,Wednesday Business

The BSE Sensex index touched a record high of 80,000 in intraday trading on July 3, and analysts believe the rally is far from over. They predict that financials and consumption sectors, which have underperformed in recent months, will drive the up-move. Specific stocks like HDFC Bank and Ultratech Cement are seen as undervalued, while banking, FMCG, and pharmaceuticals are attractive sectors at current levels. Despite the milestone, analysts see ample opportunities for growth, indicating that the rally has more legs. This optimism suggests that the Sensex's upward journey may continue.

Read More at Business Standard

Airbus Initially Skeptical, Eventually Seals $6 Billion Deal with IndiGo for 100 Planes

Brief by Shorts91 Newsdesk / 12:53pm on 02 Jul 2024,Tuesday Business

In a pivotal moment for Indian aviation, Airbus initially doubted IndiGo's ambition to order 100 planes but eventually signed a landmark $6 billion deal. IndiGo founders Rakesh Gangwal and Rahul Bhatia, initially considering 20-30 aircraft, strategically concealed their plan until negotiations matured. Airbus's skepticism transformed into enthusiasm after tough negotiations with Gangwal, securing a deal benefiting both parties for over a decade. The agreement, a highlight of the Paris Air Show, underscored IndiGo's rise from skepticism to prominence in global aviation.

Read More at business Today

Hindenburg Alleges SEBI Shielded Kotak Bank in Adani Short-Selling Case

Brief by Shorts91 Newsdesk / 07:56am on 02 Jul 2024,Tuesday Business

Hindenburg Research, responding to SEBI's show cause notice, accused the regulator of not naming Kotak Bank in the Adani short-selling saga. The US firm claimed Kotak Mahindra Investment, referred to as 'KMIL' by SEBI, managed offshore funds used to short Adani Group shares. Hindenburg suggested SEBI's omission aimed to protect powerful Indian figures and criticized its jurisdiction claims. The research firm disclosed its short position against Adani, seeking further transparency on SEBI’s process and considering a Right to Information request for details on interactions between SEBI and Adani representatives.

Read More at India Today

U.S. Firm Hindenburg Terms SEBI Notice ‘Nonsense’ After Adani Stock Allegations

Brief by Shorts91 Newsdesk / 07:32am on 02 Jul 2024,Tuesday Business

Hindenburg Research, the U.S. firm that alleged fraud and stock manipulation by Adani Group, received a show cause notice from SEBI on July 2 for alleged violations related to its Adani bets. Hindenburg dismissed the notice as “nonsense” and accused SEBI of attempting to silence critics of powerful figures in India. The firm, which had disclosed a $4.1 million gain from shorting Adani stocks, reiterated its accusations of “brazen stock manipulation and accounting fraud” against the Adani Group, suggesting the notice was concocted to intimidate and suppress those exposing corruption.

Read More at The Hindu

SEBI Issues Show Cause Notice to Hindenburg, Others Over Adani Report

Brief by Shorts91 Newsdesk / 06:01am on 02 Jul 2024,Tuesday Business

Markets regulator SEBI has issued a show cause notice to Hindenburg Research, its founder Nathan Anderson, and foreign portfolio investor Mark Kingdon for trading violations in Adani Enterprises. The regulator alleges that Hindenburg and Anderson violated regulations by publishing a report that misled investors, while Kingdon aided Hindenburg in indirectly participating in Adani Enterprises' derivatives market. SEBI claims that the report, which led to a significant stock price drop, was not solely for international valuation purposes as claimed. The notice seeks explanations for the alleged violations, which could lead to penalties and action against the entities involved.

Read More at NDTV

Sensex Surges 214 Points to Reach New High of 79,457, Nifty Opens at 24,086

Brief by Shorts91 Newsdesk / 04:56am on 28 Jun 2024,Friday Business

India's stock market started Friday on a high note, with benchmark indices Sensex and Nifty 50 reaching new highs. Sensex surged 214.40 points to 79,457.58, while Nifty 50 opened 41.40 points higher at 24,085.90. Bank Nifty index rose marginally by 63.65 points to 52,874.95. The positive trend is driven by favorable global market cues. The Gift Nifty is trading at 24,200, up 105 points from the previous close. The market is expected to continue its upward momentum, fueled by positive sentiment and strong investor appetite.

Read More at NDTV

Sensex Crosses 79,000 Mark for First Time, Nifty Hits Lifetime High

Brief by Shorts91 Newsdesk / 05:50am on 27 Jun 2024,Thursday Business

The Indian stock market reached new heights on Thursday, with the BSE Sensex crossing the 79,000 mark for the first time, reaching a record high of 79,033.91. The NSE Nifty 50 also hit a lifetime high of 23,974.70, breaching its previous record. The Bank Nifty index surpassed the 53,000 mark for the first time. The rally was driven by key heavyweight stocks, with the Nifty 50 gaining 0.32% to 23,945 points and the Sensex adding 0.35% to 78,948.25 points. This milestone marks a significant achievement for the Indian stock market, indicating a strong and bullish trend.

Read More at The Indian Express

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