SEBI cancels 2 merchant banks' registrationSEBI has cancelled the certificates of registration of two category I merchant bankers, Sanmac Motor Finance and Windsor Capital Markets, with effect from March 9. The two merchant bankers failed to submit information on employees involved in merchant banking activities as per Sebi's regulations. Hence, the decision to cancel their registration certificates.
Spectra Agrochem files offer document
SEBI received only one draft prospectus in the week to March 13 from Spectra Agrochem for a public issue to raise a total capital of Rs 1.90 crore. During the same week, Sebi communicated observations on the public issue of Energy Development Co amounting to Rs 13.10 crore and a rights issue of Shamken Multifab amounting to Rs 9.38 crore.
Nifty rises 2 points
Equities moved up on the NSE on Thursday on good buying support from domestic institutions. However, profit-taking at higher levels pared some of the gains. The NSE-50 index settled at1,105.80, up 2.45 points over the previous close. The Mid-cap Index closed at 1,284.90, gaining 8.55 points. The exchange reported a total turnover of Rs 1,415.10 crore.
NSE completes 173rd settlement
NSE completed its 173rd settlement since inception (settlement number 1998009) on Thursday. The total value of the settlement was Rs 1,134.15 crore for securities and Rs 193.06 crore in funds. The pay-out has been completed and all shortages to the extent of 1.27 per cent have been auctioned. Unrectified bad deliveries for the previous settlement to the extent of 0.15 per cent have also been auctioned.
MSE Index gains 9 points
Equities made further gains on the Madras Stock Exchange on Thursday. The MSE Share Price Index moved up by 9.31 points to close at 3,994.50. ACC gained Rs 11.45 to end at Rs 1,440, ITC Rs 5.55 to Rs 721.80, Software Solution Rs 3.55 to Rs 154.20, Mahindra & Mahindra Rs 5.70 to Rs 270, Reliance Rs 4.55 to Rs 176.20 and Telco Rs 11.20 to Rs 262.50.
DSE shares losevalue
Speculatives lost ground on the Delhi Stock Exchange on Thursday on profit-taking by speculators. Buyers preferred to wait for the allocation of certain key portfolios, dealers said. The 0.5 per cent cut in the bank rate by RBI failed to have any immediate impact on the market. The DSE Sensitive Index settled at 832.15 points, losing 2.44 points.
Skindia Index up 0.37%
The Skindia GDR Index moved up by 0.37 per cent from 931.76 to 935.18 on March 18. The Skindia GDR Index p/e ratio was 20.31 on March 18 compared with 20.21 on March 17. The top gainers were IPCL, Indian Rayon and Telco which quoted at $5.75 ($5.25), $4.25 ($4.00) and $8.00 ($7.75) respectively. Losers included BSES, Reliance and Hindalco.
Jakarta stocks end flat
Jakarta stocks ended flat on Thursday as investors waited for further news from meetings between the government and the IMF, brokers said. The Composite Index ended up 0.14 points, or 0.03 per cent, at 504.15 on an estimated total turnover of 476billion rupiah. Advancers led decliners by 81 to 44 with 86 issues unchanged.
HK stocks close sharply higher
Hong Kong stocks surged to a sharply higher Thursday close in a late spurt led by gains in futures. The Hang Seng Index rose 323.39 points, or 2.91 per cent, to 11,445.04. Turnover picked up in afternoon trade to end at HK $9.02 billion compared with Wednesday's HK $6.71 billion.
KL stocks end 3.47% higher
A rebound in Sime Darby and a rally in financial shares lifted the market to a higher close on Thursday. An inflow of foreign money ahead of the announcement of a new set of economic measures next week, hopes of mergers within the finance industry and the firmer ringgit contributed to the spike, analysts said. The key Composite Index ended 24.49 points, or 3.47 per cent, higher to 731.04.
Call rate ends at 8.5%
The call money market was a little pressured on Thursday despite adequate liquidity in the system. The call rates opened relatively higher at 8-8.5 per cent asagainst Wednesday's close of 7.5-8 per cent. The rates later edged up to 8.35-9 per cent and closed at 8-8.5. However, most of the transactions were conducted in the range of 8-8.5 per cent, dealers said.
Rupee rangebound
The spot rupee remained rangebound on Thursday and closed at 39.55, a tad weaker than its previous close of 39.54. The rupee opened at 39.53/55 and moved in a narrow groove in a dull day. Dealers said that SBI was seen buying dollars throughout the day. The rupee touched a low of 39.5250 and a high of 39.5550 during the day.
Silver recovers, gold unchanged
Silver prices recovered moderately on the local bullion market on Thursday. Ready silver of .999 purity and tenderable silver recovered by Rs 20 each to end at Rs 8,300 and Rs 8,305. Standard and 22-carat gold ended unchanged at Rs 3,950 and Rs 3,650.
Metals ranged as buyers stay away
Base metals were ranged in slow trade on the metal market on Thursday as industrial buyers stayed away on news of losses inworld prices, dealers said. Copper was steady at Rs 11,700 per quintal. Other base metals moved in a narrow range and closed on a steady note.
Castorseed climbs on speculative buying
Castorseed June delivery climbed further by Rs 6 to Rs 1,247/1,248 per quintal on fresh speculative buying on Thursday, dealers said. Maturing March delivery remained untraded. Groundnut oil lifted further by Rs 3 to Rs 386/387 per 10 kg on continued seasonal buying.
Sugar dips on dull demand
Sugar prices dipped further on the local market on dull consumer demand and retail offtake while fresh arrivals put pressure on the prices, dealers said on Thursday. In the ready delivery sugar S-30 fell by Rs 5 to Rs 1,400/1,435 per quintal while sugar M-30 fell by Rs 5 to Rs 1,420/1,490 per quintal.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
