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Markets

Tuesday, May 19, 1998

	Sensex recovers 59 points as local funds come to the rescue Massive buying by domestic institutions led by UTI helped absorb the fall in share prices yesterday following heavy selling pressure from foreign institutional investors (FIIs). The purchases made by domestic institutions helped the 30-share BSE Sensitive Index recover by 58.68 points to close at 3,908.48 points.		Indo Gulf to raise funds via preference shares issue Indo Gulf Fertilisers and Chemicals Corporation, part of the Aditya Birla group, plans to raise funds through issuing cumulative redeemable preference shares of up to Rs 100 crore. The preference shares are of the face-value of Rs 100 each.
	Prudential ICICI AMC to unveil 3 plans Prudential ICICI Asset Management Company has launched three open-ended schemes with a flexible lifetime investment programme which allows an investor to switch between each of the three plans. The three schemes are an Income Plan, a Growth Plan and a Liquid Plan. The schemes will open for subscription on June 4.		Dollar likely to be on its way up again after G8 meet, say dealers The dollar is likely to resume its ascent and test this year's high of 135.45 yen after the summit of leaders of the Group of Eight (G8) industrialised nations ended without any surprises.

Icra downgrades Surya Roshi debt programmes to LA+
ICRA has downgraded the Rs 18.36-crore partially-convertible debenture (PCD) programme and the Rs 10-crore non-convertible debenture (NCD) programme of Surya Roshni (SRL) from LAA to LA+. The revised rating indicates adequate safety.

ICICI to pitch for pension funds via AMC
ICICI will henceforth bid for the management of pension funds of top public sector enterprises through its new asset management joint venture with Prudential Corporation of UK rather than do it internally through a team of investment managers.

Market is set to move up
Subdued conditions in bullion; dry mango soars
Lakme
Fear rules Indonesia commodity market
Asian financial markets dip on Indonesia fears
Financial Briefing
Market Briefing
WAN key to depository growth
Leading Edge may make bonus debut
Substantial drop in rights issue mobilisation
NSE board to frame guidelines to kickstart derivatives trading
Castrol good buy at current valuations
First India ELSS net asset value spurts 72% in 3 months
Other income saves the day for Bajaj Auto
Market Round-Up
Infotech stocks bounce back as market favourites
Commodity Briefing