Market Update - Sebi is liable to fix the administrative system, BSE posts a net profit

Sebi is liable to fix the administrative system for portfolio directors - The Securities and Exchange Board of India (Sebi) has gotten a series of proposals from its working gathering on fixing the administrative structure for the portfolio of the executives' administration (PMS) industry. One of the recommendations relates to expanding total assets necessity of PMS players to Rs 50 million. A portion of different recommendations includes improving the detailing divulgences, high leave stacks in PMS items and improving the general business guidelines. 

The working gathering charged by the Sebi said higher total assets necessity would hinder non-genuine players while looking for enrollment and furthermore put weight on the periphery players. It saw that it has been more than a long time since the total assets prerequisite was last updated from Rs 5 million to Rs 20 million. 

BSE posts a net profit of Rs 41.3 crore in Q1 - The Bombay Stock Exchange (BSE) posted a net profit of Rs 41.3 crore for the first quarter of the current financial year, a fall of 20.4% from the previous year. In Q4FY19, BSE posted a net profit of Rs 51.9 crore. 

Consolidated revenues stood at Rs 112.1 crore against Rs 115.7 crore in Q4FY19. However, its operating Ebitda (consolidated) for the quarter ended increased by 120% to Rs 5.5 crore from Rs 2.5 crore in the previous quarter. While its total revenue fell to Rs 166 crore this quarter from Rs 182 crore in Q4FY19.

Crude Ends Week Lower After Largest Dip in More Than Four Years - oil declined 1% for the week as comments that the Federal Reserve rate cut might not be followed by another joined with the trade war to boost demand concerns. Oil last month capped its smallest monthly move since 1991 as it continues to be caught between fears the global economy may see a slowdown and concerns crude flows from the Middle East may be disrupted.

Sensex, Nifty see worst July in 17 years: Where are the markets headed?

Tax on foreign portfolio investors proposed in the Union Budget, weak corporate earnings amid a slowing economy and falling consumption dented sentiment in July with the frontline benchmarks – the S&P BSE Sensex and the Nifty 50 – slipping around 6 percent. This was the worst month for the indices in nearly 17 years.

On Thursday, the Nifty50 slipped below the 11,000 marks and has thus far tanked around 9 percent from its 52-week high of 12,103.05 levels hit on June 3. Analysts say there is more pain in store for the markets, as developments – both global and domestic market.

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