The Indian stock market extended gains on Wednesday, with Sensex and Nifty trading in the green as oil prices slipped on fresh hopes that the Strait of Hormuz could reopen soon after Iran said it has resumed talks with Oman on managing the strategic waterway.

Sensex gained 321 points to 77,970 while Nifty 50 rose around 42 points to 24,377 on Wednesday. Broader markets also opened in the green, with Nifty Smallcap 100 and Nifty Midcap 100 indices rising to 0.45%.

Eternal shares jumped nearly 2% to lead gains on Sensex, while ICICI Bank and SBI shares were up around 1% each. Bucking the trend, Tata Steel, Infosys and Bharti Airtel shares dropped around 1% each.

Among the sectors, Nifty PSU Bank index gained over 1%, while Nifty Metal, Nifty IT and Nifty Auto slipped into the red. The overall market breadth remained positive, with NSE seeing 1,931 advances and 566 declines, while 120 stocks remained unchanged.

What lies ahead for Dalal Street?

There are two factors that are positive for the market today, according to V K Vijayakumar, Chief Investment Strategist at Geojit Investments. First, is the news of another ceasefire between the US and Iran, and initiatives for resuming shipping through the Strait of Hormuz have brought down the Brent crude rate to $86.3. Since a rally in the Indian market has been mainly constrained by the elevated crude prices, this sharp dip in crude is a positive. Second, the dip in bond yields in the US (10-year at 4.64%) is a mild positive for equity markets globally.
“But these are not good enough to trigger a sharp rally in the Nifty since many mega caps in the Nifty are technically weak. The market rally will be led by the broader market, which is driven by supporting fundamentals and momentum. It is also important to note that valuations in the broader market are getting stretched,” according to the analyst.Technical view on Nifty

Nifty’s rise, which was expected yesterday with an initial objective of 24,400, is expected to mature today, said Anand James, Chief Market Strategist at Geojit Investments.

“We are also open to the possibilities of extending this run towards 24,550 or even 24,820. Downside marker may be placed in the 24,220 vicinity,” the analyst further said.

(With inputs from agencies)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Households are paying hundreds of pounds a year more on average than before Russia’s full-scale invasion of Ukraine in 2022 started the energy crisis. Bills have gone up by about 70% compared with the pre-crisis norm, according to industry data.

That means unpaid bills and charges have shot up. Energy UK estimates total debt to have collectively risen to £6bn, with an expectation of it to increase to about £7bn by the end of the year.

The average billpayer in debt, without a payment plan, owed £3,500, it said.

The trade body has called for a flexible discounted tariff for those most in need, funded by taxation. That is supported by many debt charities.

“Without urgent intervention – namely a national social tariff and implementation of the long-awaited debt write off scheme from Ofgem – we expect this [debt] figure to rise in the coming months, and with that see an increase in the number of people coming to us for help with energy bills,” said Emily Whitford, senior public policy advocate at StepChange.

The Trades Union Congress has called for a windfall tax on bank profits to be used to reduce energy bills.

The government is cutting VAT from electricity bills in October, which should knock about £50 off a typical annual bill, and some policy costs were cancelled or shifted in April, but ministers say there is more to do.

Suppliers offer a host of support schemes to anyone struggling to pay, or who is likely to find it difficult.

Energy UK has a list of these schemes, external. But it stresses that companies can often only help if you get in touch with your supplier to tell them you are unable to pay.

The Federal Trade Commission reached a settlement with Zillow and Redfin, resolving an earlier claim that the companies worked together to reduce competition in the marketplace.

The FTC on Monday said its settlement unwinds an agreement from last year, in which Zillow paid Redfin $100 million to shut down its internet-listing services business and stay out of the market for up to nine years.

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Singapore requires foreign companies to have at least one resident director; nominee arrangements are common but involve legal liabilities and governance considerations, especially during early-stage regional expansion.

Singapore’s Residency Requirement for Companies

Singapore mandates that every locally incorporated company must have at least one director who is ordinarily resident in the country. This rule applies universally, whether the company is active, dormant, generating revenue, or wholly foreign-owned. For foreign investors without local management, this requirement impacts various processes such as company incorporation, licensing, banking setup, and initial commercial activities, influencing timelines and operational planning.

Timing Challenges and Nominee Arrangements

Company registration in Singapore can often be completed within a few days, but securing Employment Pass approval may take several weeks. During this interim, foreign companies frequently use nominee arrangements to facilitate leasing, supplier contracts, payroll, and banking arrangements. These arrangements enable operational continuity and regional invoicing while the company’s infrastructure is still being established.

The Role and Risks of Nominee Directors

Singapore law allows the use of nominee directors, commonly adopted by foreign firms during early expansion phases. However, nominee directors are not passive placeholders—they hold legal responsibilities and fiduciary duties as directors, regardless of private side agreements. Properly structured governance involves separating statutory responsibilities from operational control, ensuring that decision-making power remains with the beneficial owner through documented arrangements.

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Read the original article : Using Nominee Directors in Singapore for Foreign-Owned Companies

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