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Wednesday, April 8, 1998

Stock Update Forex Update
  CARE scales its outlook on Arihant Credit debt plan
Credit Analysis & Research Ltd (CARE) has downgraded the fixed-deposit programme of Arihant Credit Capital Ltd from BB to D, indicating default. According to CARE, the rating has been downgraded taking into account the company's reported failure to meets its obligations to fixed-deposit holders in time.
  SEBI may expand compulsory demat list
Sebi has slightly relented on National Securities Depository Ltd (NSDL) chief CB Bhave's plea. He had demanded an immediate expansion of the list of securities in which institutions will have to compulsorily trade in the demat mode.

Federal Bank shares make a comeback as market bets on EPS
Federal Bank's shares are back in favour with market operators on expectations of a higher earnings per share (EPS) of Rs 26 for fiscal 1997-98. The bank's EPS in 1996-97 stood at Rs 21. The scrip, which fell to Rs 60 on February 23, gained 45 per cent to close at Rs 88 on April 7.
Forex market hiccups as State Bank mops up dollar
The foreign-exchange market suffered minor hiccups, with the rupee losing 12 paise in intra-day trades against the greenback as State Bank of India made its spot-dollar purchases ahead of the five-day holiday. The dealers also feared that overnight rates might harden. The rupee, however, closed stronger at 39.53, up from Monday's close of 39.55.


LIC

Syndicate Bank

NCPRB

 
Speculators may push sensex to higher levels of around 4,440
The Sensex went up further despite profit booking as anticipated in this column. Of the total intra-day spread of 60 points, over 30 points were overlapping between the range of movement of Monday and yesterday. The index gained 24 points day-over-day by closing at 4194.21. Sensex may even touch 4440.

Dow Jones crosses 9,000; scales a record high
Bulling past a new milestone, the dow industrials closed above 9,000 for the first time, extending a relentless climb that got its final nudge from the biggest business merger ever. Meanwhile, share prices surged 5.4 per cent on the Korea Stock Exchange on Tuesday, rebounding on the rising yen and reports that the government will privatise state-owned companies.

 


  Australian gold market glitters as price rises
  No ICTA auctions this week
  Commodity Briefing
  Growth put at 24% as suds settle in shampoo market
  Peerless Shipping shares rise 160% on the back of speculative buying
  HCL Office Automation investors get exit option as scrip spurts 400%
  Alliance Capital MF targets Rs 300 cr in '98-99
  Sensex rises 24 points on funds support
  SEBI must focus on investor education, says committee
  Market Briefing
  CMC unveils software package for BSE
  Variava clears vetting of Fairgrowth shares
  ICICI to raise debt via private placement, set to lead the pack
  Market Round-Up
  Precious metals react on profit-taking
  ICL rights may highlight UTI's error of judgment