admin Stock market: Here’s your market wrap for the week ending April 25, 2025, offering a thorough overview of the top news and key market performance highlights.
1/ SEBI’s circular dated December 12, 2023, requires Stock Brokers (SBs) and Clearing Members (CMs) to upstream clients’ funds to Clearing Corporations (CCs) at the end of each business day. This can be done in the form of cash, lien on Fixed Deposit Receipts, or by pledging units of Mutual Fund Overnight Schemes (MFOS).
To facilitate this, a change in cut-off timings for determining applicable NAVs for repurchase of units in overnight schemes has been proposed. Effective from June 1, 2025, the new cut-off timings are as follows: applications received up to 3 PM will use the closing NAV of the day preceding the next business day, and those received after 3 PM will use the closing NAV of the next business day. For online applications, the cut-off time is 7 PM. These changes are intended to ensure efficient processing and safeguarding of clients’ funds.
