By Aditya Raghunath
In some good news for investors, Securities and Exchange Board of India (SEBI) announced T+1 settlement cycle for stocks on September 7. "Based on discussions with Market Infrastructure Institutions (Stock Exchanges, Clearing Corporations and Depositories), it has been decided to provide flexibility to Stock Exchanges to offer either T+1 or T+2 settlement cycle," SEBI said.
Foreign institutional investors (FIIs) were net sellers for the second straight day in September after buying for the first three trading sessions. FIIs sold Rs 145.45 crore worth shares on September 7.
The Dow Jones Industrial Average and S&P 500 closed lower on Tuesday as fears over the slowdown in economic recovery kept increasing. Though it is likely that the US Federal Reserve will not start tapering or increase interest rates, the slowdown fears were overwhelming. As of this report, Dow Jones 30 Futures were up 0.1% while S&P 500 Futures and Nasdaq 100 Futures were up less than 0.1%.
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