Market Bizzz

The Securities Appellate Tribunal has upheld market regulator Sebi’s penalties against Kotak Mahindra Asset Management Company. This ruling concerns investments made by its fixed maturity plans in Essel Group-linked entities. The tribunal found Kotak AMC failed to exercise due diligence and violated mutual fund rules.

India’s foreign exchange reserves surged to a record $728.5 billion in the week ending February 27, boosted significantly by a $4 billion increase in gold reserves. Foreign currency assets and SDRs also contributed to the rise, despite the rupee facing pressure from forward contract maturities.

Crypto legislation faces an impasse as banks reject a White House compromise, casting doubt on its passage this year. President Trump criticized lenders for attempting to undermine the bill, which aims to clarify crypto regulations but is stalled by disagreements over stablecoin rewards and deposit flight concerns.

Dalal Street faces another volatile session amid geopolitical tensions, leaving investors questioning whether to buy beaten-down stocks or wait. Dipan Mehta advises patience, suggesting that while attractive valuations exist, the duration of the West Asian crisis is key. He believes opportunities lie in quality midcaps rather than overvalued defence stocks.

Indian equity markets are experiencing significant volatility after three days of selling. Technical indicators suggest a potential short-term rebound due to extreme oversold conditions, with Nifty possibly testing 24,600-25,000 and Bank Nifty nearing 60,000. Experts advise against panic selling, noting the VIX spike reflects heightened concern but not peak panic yet.

PNGS Reva Diamond Jewellery’s IPO, priced at Rs 386, is set for its stock market debut on March 4. Despite a Rs 380 crore issue that closed on February 26, grey market signals suggest a cautious listing with a discount to the issue price. The IPO saw moderate overall demand, with the retail and NII portions subscribed.

Sedemac Mechatronics’ Rs 1,087 crore IPO opens amid weak grey market sentiment, with a discount indicated. The offer is entirely an offer for sale, meaning the company receives no funds. Valued at Rs 5,971 crore, the company designs electronic control units for mobility and industrial uses.

The 200 DMA is used as a key indicator by traders for determining the overall trend in a particular stock.

Gold prices surged for a fifth consecutive session, reaching a four-week high as investors sought safe-haven assets amid escalating U.S. and Israeli air strikes against Iran. Fears of a protracted regional war and deepened uncertainty are driving demand for the precious metal, with silver, platinum, and palladium also seeing gains.