News Briefs (31-12-2018)

Sebi to ramp up market surveillance

NEW DELHI, Dec 30: Regulator Sebi is planning to beef up its market surveillance system as well as its tool for speedy analysis of trade data, which identifies possible violations such as insider trading, share price manipulation and front running. In this regard, Securities and Exchange Board of India (Sebi) has invited applications from the interested companies to provide IT services for the maintenance of its integrated market surveillance system (IMSS), data warehousing and business intelligence system (DWIBS). The market watchdog undertakes its market surveillance functions through integrated market surveillance system, which was put in use from 2013, and collects data for suspicious market activities through multiple sources, including its network systems at exchanges and depositories.

— Business Standard

Defensive stocks top 2019 playbooks

NEW YORK, Dec 30: Perceived safe havens like utilities and consumer staples, often an afterthought in Wall Street's cascade of year-ahead investment recommendations each December, are emerging as top picks as stocks limp into 2019. Growth-oriented sectors like tech or communications services have typically dominated year-end roundups of investment ideas. But an uncertain economic outlook and concerns the bull market's roar is morphing into a bear's growl have more Wall Street banks telling investors to play it safe. A Reuters analysis of 2019 outlooks from 10 major financial institutions found eight, including Morgan Stanley, Goldman Sachs and Barclays, with "overweight" ratings on at least one defensive sector for 2019. That marks a big change from last year, when just two of those banks favored any defensive sectors.

— Reuters