NSE May Refile IPO Papers with Sebi

The National Stock Exchange (NSE) is expected to file fresh draft red herring prospectus (DRHP) with markets regulator Sebi to float an initial public offering (IPO) after getting clarity on the co-location matter.   However, the preliminary IPO papers, which has been filed with Sebi in December last year, will remain open, the exchange said.

The Initial Public Offering of NSE is being eagerly awaited in the market as one of the largest in recent times, which is having an estimated size of over Rs. 10,000 crore. Bombay Stock Exchange (BSE) also got listed in February month. The regulatory authorities stated the exchange will have to file fresh DRHPs as issues related to co-location case have held up regulatory go-ahead for its earlier proposal and Sebi wants greater disclosure about the matter in the draft red herring prospectus (DRHP).

The regulatory authorities said the exchange will have to file fresh draft herring papers as issues concerning to the algorithmic trading case have held up regulatory approval for its earlier proposal and the regulator wants greater disclosure about the matter in the DRHP.

Sensex snaps Four-day drop on value buying

The key benchmark indices Sensex, Nifty settled with small gains on first trading session of the week after seeing volatility in intraday trade. The Sensex rose 36.78 points to end at 32,869.72 on value-buying in IT, teck, metal and healthcare stocks. The Nifty of National Stock Exchange inched up 5.95 points, or 0.06%, to 10,127.75 points

A highly volatile trading was seen all through the session ahead of RBI's monetary policy review and Gujarat elections later this week. The RBI is scheduled to announce the fifth bi-monthly policy of the current fiscal on Dec 6.

After a strong pick up at 32,968.02, the benchmark index Sensex reclaimed the 33,000-level to hit a high of 33,008.62 points, but profit- booking at high levels capped the gains and it finally settled at 32,869.72, up 36.78 points, or 0.11%.

The gauge had tanked 891.50 points in the proceeding four sessions as upbeat Q2 GDP numbers failed to dispel concerns over a widening fiscal deficit.

FIIs invested USD 3 billion in equities in November

Foreign institutional investors (FIIs) invested three billion dollars in Indian equities in November, which marks as the highest since March. The net November Foreign investor’s investment of USD 3.05 billion is the highest since the USD 5.1 billion in March. Their net investment so far this year stands at USD 8.86 billion.  This jump is attributed on the recapitalization of banks coupled with, global risk-on trade.

On 24 October, the govt announced a Rs. 2.11 trillion bank recapitalization plan for state-run lenders weighed down by bad loans, seeking to motivate the flow of credit.

Foreign institutional investment is used commonly in India to refer to outside companies investing in Indian financial markets.