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Boost in oil prices as funds diversify towards commodities | |||||||
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Moody's releases its rating methodology for asset management firms | |||||||
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Retirement assets scale new heights | |||||||
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Setback for FX strategies | |||||||
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Global fund managers still reluctant about taking risks | |||||||
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TCS wins biggest ever Indian outsourcing contract | |||||||
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Emerging market debt register record issuances | |||||||
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Indian firms continue overseas acquisitions | |||||||
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P-Notes
and the Indian Stock Market On Tuesday, October 17, 2007, the Bombay stock exchange (Sensex) opened lower by 9% from its previous day’s close, its biggest negative gap opening. The fall was triggered by the release of proposals by the stock market regulator, SEBI (Securities and Exchange Board of India), to tighten the rules for purchase of securities in Indian companies through participatory notes (P-Notes) - an offshore derivative instrument (ODI) used by overseas investors who buy shares anonymously. SEBI’s proposals are aimed at regulating the flow of funds
through Foreign Institutional Investor (FIIs) and include constraints
on current and new ODIs with derivative underlyings, of FIIs and
their sub-accounts. (Read
more…) |
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