Losses of other Asian markets will mean India's gains, since along with China and Taiwan, India is poised to be the biggest beneficiary of the currency meltdown in the region, says a study. A report by the All India Association of Industries says the three nations are now emerging as the new favoured destinaton for fund managers ``at the expense of Hong Kong, Malaysia And singapore''.

SHCIL ties up with Corp Bank: The Stock Holding Corporation of India Ltd (SHCIL) has tied up with Corporation Bank for providing depository services to clients of the bank. While SHCIL is a depository participant with the National Securities Depository Ltd (NSDL) and hence plans to expand its reach through this tie-up, Corporation Bank would be able to provide the depository service to its clients through SHCIL operations as a DP.

MF trustees, Sebi discuss Kaul panel report: Trustees of mutual funds met Securities and Exchange Board of India (Sebi) officials on Fridayto discuss the recommendations made by the PK Kaul committee. The meeting, attended by the Sebi chairman, discussed the ways and means by which asset management companies (AMCs) can be made more accountable to trustees. "Trustees had met Sebi to discuss the recommendations made by PK Kaul Committee. They (trustees) have agreed on almost all the issues but said that the language used in some of the recommendations be changed to incorporate some changes which were recommended by the trustees", said the Sebi chairman, DR Mehta.

NSE Muhurat trading: The Muhurat trading session of National Stock Exchange (NSE) will be conducted on Monday October 19, 1998 from 5.30 PM to 7.30 PM, NSE said on Friday.

BSE imposes special margin on two scrips: The BSE has decided to impose special margin on the following equity shares with effect from October 9 : Highway Resorts (Rs 2) and Sri Adhikari Brothers Television Network (Rs 15).

Sensex gains 20 points in roller coaster ride: The BSE-30 shareSensitive index continued its roller coaster ride for the fourth consecutive day. Aggressive sales by FIIs in the midst of continuous bouts of support by domestic institutions continued to be a prominent feature of the session. In the final countdown the index closed at 2,918 points registering a net gain of 20.32 points. Reflecting the uncertainty in the market despite the supportive approaches made by UTI and the finance ministry, the index first dipped to a low of 2,885 during the first phase, recovered to touch a high of 2,957, however, dipped again to a low of 2,895 during the last ten minutes and spurted back to the day's close of 2,918 points. -Page II

Pivotals recover moderately at NSE: Pivotals recovered moderately on the National Stock Exchange (NSE) here on Friday on emergence of low-level buying and closed marginally higher than Thursday's level. Reflecting the market trend, the S&P Cnx Nifty improved by 1.15 to close at 849.10 as against the last close of 847.95. Cnx Nifty Junior,however, declined by 5.75 to 1483.10 from Thursday's mark of 1488.85. S&P Cnx Defty ended marginally higher at 694.70, revealing a small gain of 0.95 over the previous close of 693.75. S&P Cnx 500 closed 2.62 higher at 589.94 from the previous close of 587.32. Cnx Midcap held steady at Thursday's level of 527.64.

DSE closes higher on huge short-covering: Massive short-covering by bear operators in heavy-weighted scrips pushed stock prices higher on the Delhi Stock Exchange (DSE) on Friday despite the weekly settlement. Assurance by the Finance Minister Yashwant Sinha that the government would not allow Unit Trust of India (UTI) to fail also brought confidence back among buyers. However, some squaring up by players trimmed earlier gains to some extent. Mirroring the trends, the DSE sensitive index ended 5.81 points higher at 663.74 points, though it was 10 points adrift of the day's high of 673.19 points.

Mild recovery on CSE: The final session of the week on the Calcutta Stock Exchangefeatured a mild recovery in selected shares which attracted some replacement buying. However, the trend continued to stay bearish for want of worthwhile interest. The turnover was small and undertone uncertain. The CSE's 40-share index moved between 1682.43 points and 1661.06 points before closing at 1681.40 points.

Tokyo stocks close nearly 13-year low: Tokyo's stocks tumbled 1.1 per cent on Friday to close at their lowest level in nearly 13 years, as investors sold international blue chips fearing the surging yen will cut profits, brokers said. The Nikkei-225 index fell 146.09 points to end at 12,879.97, its lowest close since December 10, 1985.

Australian stocks fall 0.5 per cent: Australian share prices closed 0.5 per cent lower on Friday, with the Japanese bourse providing most of the direction, brokers said. The Australian Stock Exchange's benchmark All Ordinaries index fell 12.0 points to 2,491.3.

New Zealand stocks down 1.5 per cent: New Zealand stocks closed 1.5 per centdown on Friday, depressed by falls in New York and Tokyo. The NZSE-40 index fell 25.14 points to 1,704.47 on turnover of 73.9 million NZ dollars (37 million US dollars).

Philippine shares rise 4.1 per cent: Philippine share prices rose 4.1 per cent on Friday due to the strength of the Japanese yen and the local currency, analysts said. The Philippine Stock Exchange composite index gained 50.95 points to close at 1,301.36 points.

Malaysian stock prices end mixed in listless trading: Malaysian share prices ended mixed on Friday in listless trading as the market digested news of the Renong group's restructuring exercise. The Kuala Lumpur Stock Exchange Composite Index ended 0.77 points lower to close at 372.77 while the lesser second board index ended 2.1 per cent or 1.88 points higher at 93.23.

South Korean stocks soar on yen rise: South Korean share prices soared 12 per cent on Friday at the opening of trade, recovering from heavy options expiry related selling on the back of thefirmer yen, dealers said. The Korea Stock Exchange composite index was up 13.96 points at 319.18, off a high of 319.89 on volume of 13.7 million shares.

Singapore index rises 2.7 per cent: Singapore share prices closed 2.7 per cent higher on Friday on the back of continued foreign buying, driven by a surge in the Hong Kong bourse and stronger regional currencies, dealers said. The Straits Times index rose 25.69 points to 976.65, while the broader All-Singapore index ended 2.61 points up at 295.81.