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Saturday, May 9, 1998

	Centre must step up spending on research, says Bimal Jalan The country must increase its spending on R&D in order to meet the challenges of the WTO regime. The country also needs to develop intermediaries like patenting agencies according to Reserve Bank governor Bimal Jalan.		Strong results help bulls stay on the track Whatever little support was required to sustain the bull market has come from an unexpected quarter over the last three weeks: Corporate results. I consider corporate profits as an `unexpected quarter' for the following reason: In our obsession with the government policies, the composition of the coalition and badla-encouraged trading mood, we overlooked the fact that corporate performance in 1997-98 could also play its role in furthering the bull run on the market.
	For genuine investors, diversification is not linked to number of funds How many are many? Or to put it straight, how many mutual funds should you have in your portfolio? You now have a battery of mutual funds flooding the market, as there are about 200 open and closed-end funds in existence. If you have been a serious fund investor saving at every opportunity, its time to administer an inventory check to your portfolio.		Expect high volatility to continue for some more days On Friday May 8, 1998 the BSE Sensex closed at 4022.20 points. As compared to close of the previous week the index gained a marginal 16 points. The week saw some very volatile sessions as the index moved in wide range. On any given day the total range of the move (the difference between the daily high and low) was more than 100 points. The market has turned out to be very volatile these days and one may expect days of high volatility in the near future.

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