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Thursday
March 2019
9:51 PM IST
News Headlines
Soldier killed as Pak army violates ceasefire along LoC in Rajouri        SAFF Women C''ship: Indian women thrash Bangladesh 4-0, will face Nepal in finals        Theresa May seeks Brexit Day delay, EU demands new vote        Nirav Modi arrested in UK; court remands him in custody till March 29        Mayawati won''t contest LS polls, but says still possible to become PM        Samjhauta blast case: Swami Aseemanand, 3 others acquitted        Not playing is not the solution: Ganguly on workload management        IPL schedule: KKR gets relief, to play all home matches at Eden        Rupee pauses after 6-day rally, slips 43 paise against US dollar        Jaitley dubs '108 purported economists' as compulsive contrarians        Sack 3 ministers in Imran Khan's govt for supporting banned outfits: Bilawal        Pak court mulls options for recording Musharraf's statement in treason case        HC takes note of 'dearth' of special education teachers in Delhi schools        Cong-JDS to campaign jointly, vow to reduce BJP to single        Mamata lashes out at BJP for questioning her religion        Jet pilots threaten to stop flying from Apr 1, set Mar 31 deadline on bailout, salaries        Congress will restore special category status to Arunachal and other NE states: Rahul        We think about the future: Sasi Tharoor        No riots in UP since BJP came to power: Adityanath        Congress finally picks Muraleedharan for Vadakara        
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Business News
'Domestic broking industry to grow at 5-10% in FY19'
 
Mumbai, Dec 27 (PTI) The domestic broking industry is likely to grow at a moderate 5-10 per cent in the current fiscal amid cautious investor sentiments and market volatility, says a report.

In the previous fiscal, the industry had grown at over 30 per cent, with turnover of Rs 18,000-19,000 crore.

"The Indian broking industry is estimated to post a moderate growth of 5-10 per cent in FY19 with an estimated revenue projected at Rs 19,500-20,000 crore," according to a report by rating agency Icra.

It said, while on one hand, the volatility in the markets is expected to encourage trading turnover, on the other, the recent corrections in valuations, coupled with the cautious investor stance, would have a bearing on industry revenues in the current fiscal.

The report said the domestic capital markets are expected to remain rangebound over the near term with a prolonged period of volatility given the weakening of investor sentiment and challenging domestic and global cues.

Going forward, the foreign portfolio investment (FPI) flows are expected to remain muted, with a net outflow of USD 8-10 billion in FY19 compared to inflows of USD 4 billion in FY18, considering the weak macro-economic outlook, the agency noted.

"Factors such as corporate earnings, state election outcome, result of the resolution of NPAs and its impact on the health of the banking sector would be other determinants for FPI flows," it said.

The domestic institutional investor (DII) segment, a net buyer of equities since FY16, is expected to remain steady over the near-term and would provide support to the domestic capital markets.

While the FPI segment will remain a key market participant, a growing DII segment is a positive development for the domestic capital markets, providing them with much-needed resilience.

"Going forward, a meaningful revival in corporate earnings and abatement of liquidity and capital availability issues would be a key for further fillip to the capital markets and for boosting FPI equity inflows," Icra's vice president and co-head (financial sector ratings), Samriddhi Chowdhary, said.

She, however, said the near-term outlook for the domestic broking industry is stable.

The report said the markets reported a resurgence in the current fiscal after a slide in February and March 2018, before witnessing a correction from September 2018.

On an aggregate basis, the equity markets reported a turnover of Rs. 1,191 lakh crore in H1 FY2019, registering a growth of 55 per cent over Rs 770 trillion in the year-ago period, the report said.

The average daily turnover (ADTO) increased to Rs 9.53 lakh crore from Rs 6.21 lakh crore during the same period and was Rs 7.04 lakh crore in FY18, it said.

Equity mobilisation through public issuances slowed down significantly in the current fiscal with Rs 0.13 lakh crore raised through 81 issuances in the first half of FY19 compared to over Rs 1 lakh crore through 229 issuances in FY18, the report added.


Rupee pauses after 6-day rally, slips 43 paise against US dollar
Jaitley dubs '108 purported economists' as compulsive contrarians
Reliance Communications pays Rs 458.77 cr to Ericsson: Sources
Sensex rises over 100 pts; Nifty above 11,300
Rupee rises by 8 paise to 69.63 vs USD in early trade
Tata Motors bags orders of over 2500 units of commercial passenger transportation vehicles
Crisis-hit Jet Airways defaults on foreign loan repayment
Optiemus launches wireless charger at Rs 2,499/-
Oil prices fall amid weak US jobs data
JSW Cement introduces high-strength Comp Cem cement in Goa
Star rating prog launched for microwave ovens, washing machines
In a first, SBI links pricing of loans, deposits to repo rate
Kia Motors announces partnerships with 8 leading financial institutions to offer financial services
Driving licences, vehicle registration certificates to come in card format only
Mining blocks to be allotted via e-auction only: J&K
ICF to roll out over 3000 coaches this fiscal, among largest railcar builders in world
Mercedes "cautiously optimistic" on growth in election year
UP to get 40 paise/unit cheaper power from plant
45 passports of NRIs cancelled for abandoning their wives: Maneka
Singapore supermarket chain removes basmati from shelves after customer finds dead rat in rice bag
KERALA NEWS
We think about the future: Sasi Tharoor
 Kottayam: We, the Congress party thinks about the future, says Sasi Tharoor MP. We stand for the you  
No riots in UP since BJP came to power: Adityanath
Congress finally picks Muraleedharan for Vadakara
I always stand for the principles and ethics I believe in: Sasi Tharoor MP
INTERNATIONAL NEWS
Theresa May seeks Brexit Day delay, EU demands new vote
 London: British Prime Minister Theresa May wrote to the European Council on Wednesday seeking a "sho
Sack 3 ministers in Imran Khan's govt for supporting banned outfits: Bilawal
Pak court mulls options for recording Musharraf's statement in treason case
Musharraf admitted to Dubai hospital after reaction from rare disease : Party
NATIONAL NEWS
Mayawati won''t contest LS polls, but says still possible to become PM
 Lucknow/New Delhi, Mar 20 (PTI) BSP chief Mayawati Wednesday announced she will not contest the upco
Samjhauta blast case: Swami Aseemanand, 3 others acquitted
HC takes note of 'dearth' of special education teachers in Delhi schools
Cong-JDS to campaign jointly, vow to reduce BJP to single
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