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<keyword id="473841" type="PERSON" weightage="20" keywordseo="investor-wealth">Investor wealth</keyword> plummeted by nearly Rs 5 lakh crore in early trade on Monday as equity markets crashed tracking global equity selloff amid rising uncertainty over the economic impact of coronavirus outbreak. Market capitalisation (m-cap) of BSE-listed companies saw a massive decline after the 30-share index plunged 1515.01 points, or 4.03 per cent, to 36,061.61. The NSE Nifty too cracked 417.05 points, or 3.80 per cent, to 10,572.40. The carnage in the equity market wiped out investor wealth worth Rs 4,79,820.87 crore, taking the total m-cap to Rs 1,39,39,640.96 crore on the BSE. The m-cap of BSE-listed companies stood at Rs 1,44,31,224.41 crore at the end of trading on Friday. Traders believe mounting fear of recession in major economies due to the coronavirus outbreak has sent equities into a downward spiral. The overall confirmed cases on the mainland reached 80,735 by the end of Sunday which included 3,119 people who have died so far, 19,016 patients undergoing treatment and 58,600 patients discharged after recovery, China's National Health Commission, (NHC) said. All Sensex components were trading in the red, led by losses in ONGC, Reliance, IndusInd Bank, Tata Steel, L&amp;T, ICICI Bank and Infosys. Traders said investor sentiments also remained fragile amid incessant foreign fund outflows. On a net basis, foreign institutional investors sold equities worth Rs 3,594.84 crore on Friday, data available with stock exchanges showed. According to Moody's Global Macro Outlook 2020-21, coronavirus will hurt economic growth in many countries through first half of 2020. The global spread of the coronavirus is resulting in simultaneous supply and demand shocks, it said. "We expect these shocks to materially slow economic activity, particularly in the first half of this year. We have therefore revised our 2020 baseline growth forecasts for all G-20 economies," the report added. On the BSE, 1,745 scrips declined, while 222 advanced and 101 remained unchanged. Meanwhile, oil prices were in a free fall, plunging nearly 30 per cent to USD 32.11 per barrel after top exporter Saudi Arabia launched a price war in response to a failure by leading producers to strike a deal to support energy markets. See also: <a href="https://www.businessinsider.in/finance/news/finance-minister-assures-employment-and-salary-at-yes-bank-at-least-for-one-year/articleshow/74514015.cms">Finance Minister assures employment and salary at Yes Bank at least for one year</a> <a href="https://www.businessinsider.in/finance/news/yes-bank-share-price-falls-10-after-rbi-limits-withdrawals/articleshow/74504094.cms">Yes Bank share price nose dives 72% after RBI limits withdrawals</a> <a href="https://www.businessinsider.in/finance/news/rbi-has-a-new-scheme-to-rescue-yes-bank-will-be-released-shortly-says-shaktikanta-das/articleshow/74506268.cms">RBI has a new 'scheme' to rescue Yes Bank — will be released shortly, says Shaktikanta Das</a>

Investors lose ₹5 lakh crore in early trade as markets crashed in India

While announcing the <keyword id="6360189" type="COMPANY" weightage="20" keywordseo="Union-Budget">Union Budget</keyword>, <keyword id="6355261" type="POSITION" weightage="20" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="42575" type="PERSON" weightage="20" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, announced a record allocation of Rs 3.96 lakh crore to infrastructure sector. As per the experts, rise in allocation to infra space will help cement and steel sector in coming years. 
 After the development, cement stocks such as ACC and Andhra Cement were trading higher by 0.80 % and 1.23%, respectively. Other stocks like <keyword id="134115" type="COMPANY" weightage="20" keywordseo="Heidelberg-Cement">Heidelberg Cement</keyword> and JK Lakshmi Cement were also up by 1.06 % and 0.51%, respectively. 
 
However, the BSE Metal index was trading 0.56 % down at 3054.75 and metal and mining stocks such as Moil, Orissa Mine, NMDC, Sail, Coal India and Apollo Tyres were trading higher by 0.60%, 0.91%, 0.56%, 0.47%, 0.44 %and 0.32%, respectively. 
 The <keyword id="4126676" type="UNKNOWN" weightage="20" keywordseo="bse-india-infrastructure">BSE India Infrastructure</keyword> index was jumped as much as 0.6 % after the announcement.

After the Infra push in Budget, cement, metal & mining stocks rise

<ul><li><keyword id="8894239" type="UNKNOWN" weightage="20" keywordseo="sbi-cards-ipo-share">SBI Cards IPO share</keyword> allotment is expected to be announced on March 11. </li><li>You can visit the registrar’s website to check your <keyword id="8894240" type="UNKNOWN" weightage="20" keywordseo="allotment-status">allotment status</keyword>. </li></ul><keyword id="116253" type="ORGANIZATION" weightage="20" keywordseo="SBI-cards">SBI Cards</keyword>, India’s second largest credit card issuer closed its initial public offer (IPO) on March 6 and set its final price at ₹755 per share. The SBI Cards share allocation is expected to be announced today, March 11, and the listing The <keyword id="8315332" type="UNKNOWN" weightage="20" keywordseo="SBI-Cards-IPO">SBI Cards IPO</keyword> has been oversubscribed 45.23 times by non-institutional investors and over 2.5 times by retail investors. The company raised ₹10,340 crore through the issue and received bids for over 266 crore shares against its offer of 10 crore shares. How to check SBI Cards IPO allotment status <div type="image" title="SBI Cards IPO allotment status" msid="74573099" hostid="261"></div>

 If you have applied for the SBI Cards IPO, you can check your allotment status by following the below steps: <ul><li>To check the <keyword id="8894238" type="UNKNOWN" weightage="20" keywordseo="sbi-cards-allotment">SBI Cards allotment</keyword> status, visit the registrar’s website <a href="https://www.linkintime.co.in/IPO/public-issues.html">here</a>. </li><li>Click on ‘Select company’ and click on SBI Cards. </li><li>SBI Cards will only be visible once the allotment status is declared. </li><li>You will have to enter either your PAN, application number or DP / Client ID. </li><li>Now, enter the captcha. </li><li>Then, click on ‘Submit’. </li></ul>You will be able to see your application status. It will show the number of shares that you applied for and the number of shares that were allotted to you. You can also visit the BSE India website to check your application status. <ul><li>Go to the<a href="https://www.bseindia.com/investors/appli_check.aspx"> BSE India website</a>. </li><li>Select ‘Equity’ and then from the dropdown, select ‘SBI Cards’. </li><li>Now, enter your application number and PAN. </li><li>Click on ‘Search’. </li></ul>Coronavirus impact and an ambitious valuation might play spoilsport The SBI Cards IPO has come at a time when the coronavirus outbreak has had a big impact on global and Indian financial markets. Fueled by coronavirus fears, BSE Sensex and Nifty <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-logs-worst-fall-in-10-years-as-sensex-tanks-over-2400-points/articleshow/74550050.cms">tanked over 6%</a> on March 9, but are charting a rebound as Sensex surged by over 300 points. However, the volatile nature of markets might not bode well for subscribers of the IPO which might lose its sheen on listing. Another aspect that might hurt investors who have subscribed to the SBI Cards IPO is the ambitious valuation and price per share. The grey market premium has <a href="https://economictimes.indiatimes.com/markets/stocks/news/forget-bumper-listing-for-sbi-card-grey-market-hints-at-low-double-digit-premium/articleshow/74550784.cms">reportedly</a> crashed from ₹300-350 levels to less than ₹100 today. That means investors might lose a chunk of their investment on the very first day of listing on March 16. See also: <a href="https://www.businessinsider.in/stock-market/markets/news/sbi-cards-ipo-date-ipo-size-company-data-and-peer-comparison-with-hdfc-bank-icici-bank-and-axis-bank/articleshow/74297734.cms">SBI Cards IPO is open to investors ⁠— India's second largest credit card seller is hot even before its market debut</a> <a href="https://www.businessinsider.in/business/news/sbi-cards-ipo-subscribed-22-45-times-on-final-day-of-bidding/articleshow/74496674.cms">SBI Cards IPO subscribed 22.45 times on final day of bidding</a> <a href="https://www.businessinsider.in/in-india-you-cant-buy-mutual-funds-from-your-investment-advisor-anymore/articleshow/74295419.cms">In India, you can't buy mutual funds from your investment advisor anymore</a>

How to check SBI Cards IPO allotment status

<ul><li>The Securities and Exchange Board of India is reportedly considering allowing <keyword id="401684" type="PERSON" weightage="20" keywordseo="direct-market-access">Direct Market Access</keyword> (DMA) to retail investors. </li><li>If the regulator goes ahead with the decision, India’s broking industry is looking at a major change which could possibly also threaten their existence. </li><li>The top 10 brokers alone contribute to over 63% of the industry size, according to a report by ICICI Securities. </li></ul>In a move that could completely change the way India’s trading market functions, the Securities and Exchange Board of India is <a href="https://hindi.moneycontrol.com/news/market-news/market-live-sensex-nifty-trade-lower-icici-bank-top-loser-yes-bank-plunges-10_238311.html">reportedly</a> considering allowing Direct Market Access (DMA) to retail investors. If the regulator goes ahead with the decision, India’s broking industry is looking at a major change which could possibly also threaten their existence. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">July 27 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">India Infoline </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹71.30 (-3.26%) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Edelweiss </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹77.75 (-4.43%) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICI Securities </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹493 (-8.3%) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Geojit Financial Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹35.45 (-9.57%) </td></tr></tbody></table> The big beneficiary will be <keyword id="35140" type="CITY" weightage="20" keywordseo="BSE">BSE</keyword> ⁠— India's oldest stock exchange that is also a listed company ⁠— as well as the National Stock Exchange, which is preparing for an IPO. The stock of BSE rose 9% in trade today after the report. Nithin Kamath, co-founder of <keyword id="759851" type="COMPANY" weightage="20" keywordseo="Zerodha">Zerodha</keyword>, one of the biggest online stock trading platforms in India, wrote on Twitter that DMA has always been available for institutions, but through a broker. “Can this be offered to retail without a broker? Yeah, but retail investors use a broker for the platform (UI, UX, different order types, reporting, etc) on which they trade, DMA is not suitable. The biggest task for a broker is handling customer queries, complaints, etc. The industry has tens of thousands of employees for this. Can exchanges take over this and also act as a regulator to regulate itself when it comes to customer grievances? Maybe not,” he wrote. More and more millennials are moving to stock trading, as financial awareness has increased. The Indian online trading industry has risen quickly over the years. According to a report by HDFC Securities dated March 2019, Industry internet trading share has increased from 22% in FY13 to 29% in FY18. The top 10 brokers alone contribute to over 63% of the industry size, according to a report by ICICI Securities. Here are the top stock broking platforms for retail investors in India, who will be impacted by the move. <div type="image" title="fintech report" msid="77198149" hostid="261" caption="&amp;lt;p&amp;gt;&amp;lt;br&amp;gt;&amp;lt;span class=&amp;quot;redactor-invisible-space&amp;quot;&amp;gt;&amp;lt;/span&amp;gt;&amp;lt;/p&amp;gt;"></div> SEE ALSO: <a href="https://www.businessinsider.in/finance/banks/news/kotak-mahindra-bank-saw-rise-in-loans-under-moratorium-but-it-isnt-the-worst-hit/articleshow/77196435.cms">Kotak Mahindra Bank saw rise in loans under moratorium but it isn't the worst hit</a> <a href="https://www.businessinsider.in/stock-market/markets/news/earnings-of-companies-like-ril-tech-mahindra-hdfc-and-others-are-all-set-to-be-announced-this-week/articleshow/77189938.cms">RIL, Tech Mahindra earnings, options expiry and geopolitical events – top things that will move Sensex and Nifty 50 this week</a>

India's broking industry just got the shock of its life – SEBI may soon allow investors to trade directly on the exchanges

<keyword id="116253" type="ORGANIZATION" weightage="20" keywordseo="SBI-cards">SBI Cards</keyword>, the second largest credit card issuer has announced the allotment status of its IPO. The IPO was closed on March 6 and the final price per share has been set at ₹755 per share. Like most IPOs, the SBI Cards IPO was also oversubscribed. It was oversubscribed 45.23 times by non-institutional investors and over 2.5 times by retail investors. Everyone who applied for the SBI Cards IPO has been waiting for the allotment announcement. Here’s everything you need to know about the <keyword id="8894238" type="UNKNOWN" weightage="20" keywordseo="sbi-cards-allotment">SBI Cards allotment</keyword>. When will SBI Cards allotment be announced? The SBI Cards allotment has been posted on the registrar’s website. The registrar for SBI Cards IPO is Link Intime India. How to check SBI Cards allotment status? 
 <div type="image" title="SBI Cards" msid="74589843" hostid="261"></div>



 You can check the SBI Cards IPO allotment status by visiting the registrar’s website or the BSE India website. <ul><li>To check the SBI Card IPO allotment status, visit the registrar’s website <a href="https://www.linkintime.co.in/IPO/public-issues.html">here</a>.</li><li>Click on ‘Select Company’ and then select ‘SBI Cards’.</li><li>Now, enter either your PAN, application number or DP / Client ID.</li><li>Now, enter the captcha.</li><li>Click on submit.</li></ul>You will now be able to see your application status. It will show the number of shares that you applied for and the number of shares that have been allotted to you. Relief for Yes Bank customers A major <a href="https://www.businessinsider.in/business/news/yes-bank-customers-can-get-allotment-in-sbi-cards-ipo-but-with-a-condition/articleshow/74588207.cms">relief</a> has been granted to Yes Bank customers who had applied for the SBI Cards IPO. They can be allotted shares but with a condition. They will have to make payment using an alternate bank account if they are allotted shares. Of the total ₹10,300 crore share sale, bids worth approximately ₹1,500 crore were received from Yes Bank customers. Of this, over ₹150 crore were from retail investors. When will the shares be listed? The SBI Cards shares are expected to be listed on March 16. We should know more about the listing once the allotment is announced. Coronavirus may affect the listing price and the investors may not get the bumper listing they were hoping for. As per experts, the earlier expected 40% premium has been reduced to 8 to 10%. It may shrink even further if coronavirus continues to spread as its rapid pace affecting stock markets and spooking investors. See also: <a href="https://www.businessinsider.in/business/news/yes-bank-customers-can-get-allotment-in-sbi-cards-ipo-but-with-a-condition/articleshow/74588207.cms">Yes Bank customers can get allotment in SBI Cards’ IPO — but with a condition</a> <a href="https://www.businessinsider.in/business/news/sbi-cards-ipo-elicits-strong-investor-response-gets-subscribed-over-22-times/articleshow/74498428.cms">SBI Cards IPO elicits strong investor response; gets subscribed over 22 times</a>

SBI Cards allotment: Check allotment status, listing date and more

New Delhi, May 8 () Finance Minister Nirmala Sitharaman on Friday expressed hope that trading of rupee-dollar derivatives contracts in India will generate huge volumes, given the world class business environment and competitive tax regime at GIFT-IFSC. The minister on Friday launched INR-USD futures and options contracts on the two international exchanges -- BSE's India INX and NSE's NSE-IFSC, at GIFT-IFSC in Gandhinagar, Gujarat. "Given the world class business environment and competitive tax regime at GIFT-IFSC, it is expected that trading of INR-USD contracts may bring volumes to India," she said. The finance minister opened the trading facility by ringing the bell electronically through video conference. Trading volumes on India INX have been growing phenomenally ever since the exchange commenced trading activities in January 2017, BSE said in a statement. With a cumulative trading volume of USD 822 billion since launch and international debt medium-term note (MTN) program of about USD 48 billion, India's INR-USD derivative is expected to attract more participants to the IFSC and make India INX a leading centre for raising capital for issuers across the globe, it said. In a separate statement, the National Stock Exchange (NSE) said introduction of rupee derivatives in IFSC is crucial for the development of Indian financial markets. "Rupee derivatives in IFSC would help in creating a vibrant forex market in India. This will also play an important role to bring the offshore rupee market back to India and strengthen price discovery in Indian markets," it said. The major participants in rupee derivatives contracts at NSE IFSC shall include Foreign Portfolio Investors (FPIs), corporations, IFSC Banking Units (IBUs) trading members, global banks and non-resident Indians, it added. IFSC platform offers access for the international investors and non-resident participants who currently participate in INR trading in various offshore markets and shall offer such participants an additional trading venue at par with the other offshore market platforms. Long trading hours and USD settlement at IFSC would also help to improve access for overseas participants and this shall in turn help these participants in hedging their rupee exposures effectively at IFSC. "We welcome today's launch of Rupee Dollar derivatives trading from the International Exchanges at GIFT IFSC. This new reform will enable India to become a net exporter of financial services, being in sync with the vision of GIFT City as a platform for onshoring financial services business, presently being lost to other financial centres across the world," GIFT City MD and Group CEO Tapan Ray said. With the launch of INR-USD derivatives, the trades that have migrated to other international financial centres will now return, he said, adding, India International Exchange already trades 22 hours a day and the INR-USD futures and options contract will also be available for 22 hours to all participants across the globe. To provide a single window regulatory institution which would accelerate the development of India's first IFSC at GIFT City, the government established an International Financial Services Centres Authority to regulate all financial services in International Financial Services Centres (IFSCs). Currently, banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators -- the RBI, Securities and Exchange Board of India (Sebi), and Insurance Regulatory and Development Authority of India (Irdai). The then finance minister Arun Jaitley in February 2018 proposed a unified regulator for the International Financial Services Centre (IFSC) at GIFT City in Gujarat. GIFT (Gujarat International Finance Tec-City) has been set up by the state government as India's first IFSC that brings together world class infrastructure, connectivity, people and technology on a single platform for businesses across the world. DP ABMABM

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Investors lose ₹5 lakh crore in early trade as markets crashed in India

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After the Infra push in Budget, cement, metal & mining stocks rise

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How to check SBI Cards IPO allotment status

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India's broking industry just got the shock of its life – SEBI may soon allow investors to trade directly on the exchanges

Sanchita Dash

SBI Cards allotment: Check allotment status, listing date and more

Rounak Jain

India can generate big volumes in rupee-dollar derivatives trading at GIFT-IFSC: FM

PTI

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