On Monday, 2062 stocks advanced, 1675 declined and 170 remained unchanged, with an advance decline ratio of 1.23 on the Bombay Stock Exchange (BSE), indicating a negative closing of stocks in broader markets. Domestic equities prompted buying, notably in the IT sector, as a result of the global market s recovery following a big slump.
India s Brightcom Group said on Wednesday it has set up an internal team to review its options after the market regulator found manipulations in its preferential share allotment and barred two top.
India s market regulator said on Tuesday that Brightcom attempted to "cover-up its misdeds" by submitting forged and fabricated bank statements, which also raised doubts about the authenticity of the company s historical financial disclosures.
On Wednesday, 2014 stocks advanced, 1616 declined and 153 remained unchanged on the Bombay Stock Exchange (BSE), with an advance decline ratio of 1.25 indicating a positive closing of stocks in broader markets. As Global markets await the outcome of the central bankers meeting at Jackson Hole set for Friday they have refrained from making significant moves. The likelihood of a further rate hike in the US and the ensuing increase in bond yields are expected to keep market volatility high as the earnings season draws to a close.
India s market regulator on Tuesday barred Brightcom Group s two top executives from holding directorial positions over irregularities in the marketing firm s preferential share allotments. .