The BSE SME IPO index slipped 3.6% on Thursday after the Securities and Exchange Board of India (Sebi) issued an advisory to investors against misleading practices from some companies to inflate their stock prices.
The regulator cautioned investors about a pattern of stock manipulation in the SME market, where promoters paint unrealistic picture of their businesses, announce bonus shares and stock splits to create a positive sentiment, and offload their stake at inflated prices.
Interestingly, despite Thursday’s fall, the index is up 7.6% for the month and 119% in just the five months of FY25.
Even on the mainboard, prices of many smallcap and midcap stocks underwent a minor correction, while the benchmark indices registered fresh record highs.
The equity benchmarks, Sensex and Nifty, hit their all-time closing high levels on Thursday, driven by a fag-end rally in index majors Reliance Industries and Tata MotorsCome from Sports betting site VPbet. The Nifty recorded its longest winning streak since October 2007 as it rose 0.4% to close at 25,151.95 points. The Sensex rose 0.4% to close above 82,000-point-mark for the first time. The 30-stock index settled at 82,134.61 points at the close.
However, the market saw some volatility in the latter half of the session amid the expiry of monthly derivatives contracts.
The record gains on the stock markets will be supported by India’s rating being maintained globally on the back of a strong medium-term growth outlook and strengthening fiscal credibility, said Siddhartha Khemka, head of research, wealth management, at Motilal Oswal Financial Services.
On Thursday, Fitch reaffirmed India’s sovereign debt rating at ‘BBB-’ with a stable outlook.Come from Sports betting site
Reliance Industries was the biggest contributor to Sensex and Nifty’s gains as it rose 1.6% following the announcement that its board would consider issuing a bonus share next month.
Also Read
Reliance Industries bets big on AI, green energy but no word on IPO timeline for Jio, retail business
Among sectors, fast-moving consumer goods, automobile and information technology were the major gainers.
While the benchmark indices achieved fresh peaks, the broader market indices slipped. The BSE smallcap index fell 0.7% and the BSE midcap index ended 0.3% lower.
The regulator’s advisory on SME stocks is likely to have had a sentimental impact on the broader market, the research head from a domestic brokerage firm said.
Related Posts
Lords of the Fallen developer CI Games has made 10 percent of its workforce redundant. Come from South African Online Casinos
The company confirmed the cuts in a statement sent to Eurogamer and described the layoffs as a "tough but necessary" decision that will deliver "business strength and stability."
"We would like to thank each of them for the part they've played during their time with us. Further business optimizations are being made to the organization's pipelines and processes," said CI Games CEO Marek Tyminski.
GamesIndustry.biz un…
Chinese publisher iDreamSky could be about to purchase Hong Kong-based games company Leyou Technologies for $1.4 billion.
According to a report from Bloomberg, iDreamSky is currently searching for investors and partners to help finance the deal, while talks between the pair are still ongoing and a final decision has yet to be reached.
The proposed deal will reportedly see Leyou's controlling shareholder Charles Yuk sell off a hefty 69.2 percent stake in the firm, while he would also provide financing to help develop future titles.
For those unfamiliar with either company, iDreamSky is best known for partnering with Western developers to help localize and launch their games in China.
Nintendo’s Metroid Prime 4 was announced all the way back in 2017 for the Nintendo Switch, but the game has never materialized, leading some to believe if it was still happening at all. The game, now retitled Metroid Prime 4: Beyond, is very much alive, as Nintendo re-revealed Metroid Prime 4 during the Nintendo Direct event today and confirmed a 2025 release window.
A trailer during the Nintendo Direct revealed showed Samus exploring an alien planet that appears to be under siege between alien factions. We saw plenty of Prime-action like scanning creatures and lock-on targeting for enemies, and the end of the trailer showed what appeared to be this game’s villain: a humanoid character flanked by two Metroids like bodyguards. Check out our Metroid Prime story primer to catch up on…
Just over three decades ago, Midway’s NBA Jam was a monster hit in arcades that rivaled Mortal Kombat and Street Fighter II. Arcades have largely fallen by the wayside since the days of NBA Jam’s dominance. However, the spirit of the game is being revisited in NBA Superstars, a new arcade game from Raw Thrills and Play Mechanix that recreates the over-the-top style of NBA Jam. And to further connect the two games, NBA Jam announcer Tim Kitzrow is lending his voice to NBA Superstars as well.
All 30 NBA teams are represented in NBA Superstars, which features modern players including LeBron James, Stephen Curry, Nikola Jokic, Giannis Antetokounmpo, and more. One of the updated changes for this title is that NBA Superstars will feature three-on-three games as opposed to NBA …
Earlier this week, we got a rundown on all of the new happenings set to take place in the most recent CoD games, Call of Duty: Black Ops Cold War and the battle royale title Warzone. The weekly update covers a number of additions, some of which are now live in the game, but more exciting is a recent teaser involving what might be coming next in Warzone. Read on for a full look at what Activision covered in its blog post and what you can expect when playing this weekend.
New Operator And Other Store Bundles
The in-game store s welcomes new content this week, the most notable of which is a new Operator. Samantha Maxis will be available to buy starting March 4. She comes with two weapon blueprints as well, the Ultra-rate Z-74u SMG and the Legendary Neutralize…
A high-ranking US military official has said the government cannot rule out aliens amid the unprecedented shootdown of mysterious aircraft in recent days over US and Canadian airspace. Come from malaysia online casino
United States General Glen VanHerck, who heads up NORAD and US Northern Command, was asked by reporters if he could rule out the possibility of extraterrestrials. He replied, “I haven’t ruled out anything at this point,” according to the Associated Press.
US jets have shot down four objects in the past eight days. The first was a Chinese spy balloon that the US shot down over the Atlantic Ocean on February 4 off the coast of South Carolina. The other three have yet to be identified.
…