The Financial Express -- Markets

Monday, May 26 1997

Skindia Index inches up The Skindia GDR index recovered by 2.60 per cent to close at 72.65 points on May 22 after falling for three consecutive weeks. A mixed trend prevailed in the GDR markets during the week as prices fluctuated in a narrow range on apprehensions of a hike in petroleum prices and disappointing corporate results.		Infrastructure Bond Issue
Calls remain low, likely to firm up Inter-bank call rates moved in the range of 0.50 to 7.50 per cent last week. Opening higher around 7 per cent on Monday, the rates eased towards close. The decline was gradual, with quotes opening 0.25-0.50 lower than the previous day. Friday, being the reporting day for banks, saw very low rates, between 0.50 and 2 per cent.	Weak commodity prices hurt GSFC Gujarat State Fertilizers & Chemicals Ltd (GSFC), one of the largest integrated fertilizer and petrochemical complexes in the country witnessed poor performance in the fiscal 1996-97 owing to two reasons. One, the prices of raw materials - naphtha (for making ammonia) and benzene (for caprolactum) rose. Two, the price realised on caprolactum and its downstream products was lower in 1996-97.

Skindia Index inches up