1. News
  2. Explained

NSE To Increase Trading Hours For Derivatives et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Aug 9, 2018 1:59 PM 2 min read

End of Day Wrap-up (Thursday / Aug 9, 2018) #RBI #FY #June #fiscaldeficit #IMF #PSB #banks #NSE #October #ElonMusk #Tesla #NYCCouncil #Uber #Lyft #Transfin

Editor's Comment: RBI to pay INR50,000cr as dividend to the government for the FY ending in June to help manage the fiscal deficit. It is not clear whether this amount includes the interim dividend of INR10,000cr paid to the government in March 2018. 


Government to introduce a new industrial policy to speed up regulatory reforms and lower power tariffs. This will help businesses to be more competitive and create new jobs. The new policy will be presented in the cabinet within the next two weeks for approval.


IMF recommends privatization of PSBs as it warns India against the macro-financial risks of state run banks. The weak credit cycle of PSBs could affect growth and create vulnerabilities. IMF also underlined the importance of a comprehensive plan to improve governance, internal controls and operations in PSBs. It also recommended swift privatization to improve operations.


NSE to increase trading hours for derivatives from 1st October. The market will close at 3:30pm as usual, and resume again at 5pm till 11:55pm. This extension will be included in next day’s session. NSE looks to map together different international markets to Indian trading timings.


SEC probing the factual credibility of Elon Musk’s statement to take Tesla private. Elon Musk may have violated a SEC regulation, which states publicly traded companies cannot announce plans to buy/sell securities if executives don’t follow through, or have the required means or capital to complete the deal, or basically trying to manipulate stock prices.


New York City Council to limit issuance of licences to ride-hailing services like Uber and Lyft for 12 months. The council wishes to study the effects on the city, mainly congestion and earnings of yellow medallion taxi drivers. However, the council also made sure rideshare drivers also earn atleast $17.22/hour.