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Stock Market Today: Top 10 things to know before the market opens

Stock Market Today: Top 10 things to know before the market opens SGX Nifty indicates a negative start for the broader index with a loss of 71 points on Wednesday after the Nifty closed 82 points higher at 18,147 in the last session. Wall Street ended in the red amid rising worries of banking crisis, while plunge in oil prices drove European stocks down. Asian indices showed lukewarm trade this morning
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Axis Bank’s original promoter SUUTI exits after 30 years

In December, SUUTI held six lakh shares representing a 0.02% stake in the bank, which was down from 1.6% in September 2022. According to the stock exchange data, as of end-March 2023, the stake was down to zero. The derecognition as a promoter also takes away the right to appoint a nominee director on the bank’s board.
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Yen sinks to 15-year low vs euro as dovish BOJ contrasts with ECB

The Aussie dollar kept near the middle of its recent trading range with the greenback ahead of the Reserve Bank of Australia’s (RBA) policy decision at 0430 GMT, with money markets positioned for a second meeting with no change. However, there remains a risk of another hike in the second half of the year.
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Nifty feels the heat as FPIs remain sellers on valuation concerns

Nifty declined marginally since January, while markets like the US, Germany, France, Korea, and Japan have risen 10-16% in the period. Foreign portfolio investors (FPIs) have net sold shares worth Rs 14,156 crore this year after selling Rs 1. 50 lakh crore of equities in 2022. The underperformance of the Indian market followed a strong performance from 2020 until the middle of 2022.
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Irdai asks insurers to lay down social media norms for employees

An organisation’s reputation is closely linked to the behaviour of its employees, the Insurance Regulatory and Development Authority of India (Irdai) said, adding “Social media should be used in a way that adds value to the organisation’s business”. ​​The Information and Cyber Security Guidelines, which were issued by Irdai to all insurers, have a specific section on ‘Acceptable usage of social media’.
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Sebi seeks investor data from AIFs for risk assessment

The Securities and Exchange Board of India (SEBI) has requested trustees to scrutinise the investors and the proportion of high-risk clients and non-profit investors in each fund, along with the proportion of investors in countries found on the Financial Action Task Force’s grey list, or the United Nations Security Council’s consolidated list. Trustees have also been asked to evaluate the degree of checks on politically-exposed persons and sensitive clients, and examine whether the right documents are being collected from investors and their jurisdictions while know-your-customer (KYC) and anti-money laundering measures are being carried out.