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FE NEWS SERVICE
CLB passes directives on Okara Agro, Hoffland Fin: The Company Law Board has directed defaulting Okara Agro Industries to revise its repayment scheme as per directions of the Delhi High Court. CLB member A K Doshi also asked the company to apply to the Delhi High Court for sale of immovable property in order to repay the deposit holders. In another judgement, Doshi in a suo-moto order directed defaulting Hoffland Finance Ltd to repay the entire amount to the fixed depositors by end of December 1999 in six quarterly instalments.
DSE board member quits, alleges harassment by officials: One of the oldest serving member on the board of Delhi Stock Exchange (DSE) Madan Gopal Bajaj has resigned from the board alleging harassment by exchange officials. ``I cannot tolerate some of the very humiliating and insulting behaviour of the exchange officials and I have put in my papers to DSE president on Monday,'' Bajaj said.
NSE up on good buying support: Pivitols firmed up further on good buyingsupport by FIIs, domestic institutions and bull operators on the last day of the current settlement on the NSE today. Reflecting the uptrend, the S&P Cnx Nifty moved up by 4.05 points to 868.70 points from 864.65 points of the previous day. The Cnx Nifty Junior shot up by 16.05 points to 1448.15 points and S&P Cnx Defty edged up by 3.25 points to 711.90 points. The S&P Cnx 500 index gained 3.36 points to 591.13 points while Cnx Midcap-200 index advanced by 3.79 points to 518.88 points.
Late buying by FI's reverses early mixed trends on DSE: After remaining almost dull for the major part of the session, late buying by domestic financial institutions and speculators brought back buoyancy on the stock market today lifting stocks to close higher. The Delhi Stock Exchange sensitive index which dropped to 665.61 points at mid-session, rebounded to close 2.98 points higher at 672.14 points largely attributed to a sharp upsurge in blue chips.
MSE stocks move up to settle higher: Values of scripsfurther improved and settled with small to handsome gains on buying support in the Madras Stock Exchange (MSE) on Tuesday. However a few select counters declined on increased selling coupled with profit taking. The MSE share price index went up by 8.15 points to close at 3330.62 against the previous day's close of 3322.47 points.
Demat trades worth Rs 6.27 cr from 4.03 lakh shares: A total of 4.03 lakh shares worth Rs 6.27 crore was traded the on demat segments of both NSE and BSE together on Tuesday, according a release from National Electronic Settlement and Transfer (NEST).
HK dips 1.3% on profit taking: Hong Kong share prices fell 1.3 per cent in the fourth day of decline as investors locked away profits on recent strong gains amid an absence of fresh incentives to buy, dealers said. The key Hang Seng index lost 130.60 points to close at 9,721.33 in extended profIt-taking after hitting a six-month high of 10,508.25 on November 4.
Tokyo down on economic package scepitism:Japanese stocks edged down 0.6 per cent as investors remained cautious toward a fresh government economic stimulus package due to be announced next week, brokers said. The yen's fall against the dollar triggered some bargain-hunting among selected export-oriented issues but it failed to offset the impact of modest selling elsewhere, brokers said. The 225-issue Nikkei average fell 86.45 points to end at 14,108.09 while the Topix index of all issues on the first section of the Tokyo Stock Exchange was down 5.84 points at 1,078.32.
Singapore down 3.9% on weakening currency: Singapore's benchmark stock index fell 3.9 per cent as the local dollar weakened amid overall bearish sentiment in the region and officials confirmed the economy was sliding into a recession. A dealer said share prices could fall further if currencies continued to weaken. The Straits Times Index fell 47.22 points to 1,172.06, while the broader All-Singapore index fell 13.39 points to 335.12.
Kuala Lumpur down marginally:Malaysian share prices closed 0.4 per cent higher after late buying by local institutions reversed earlier losses due to profit-taking, dealers said. The Kuala Lumpur Stock Exchange's composite index rose 1.85 points to finish at 467.54, off an earlier low of 453.31 points. The lesser second board index surged 1 per cent, or 12.83 points to end at 140.
Jakarta slumps 1.9%: Indonesian share prices slumped 1.9 per cent as tension heightened on the first day of a bitterly-contested session of the the country's People's Consulative Assembly, brokers said. The Jakarta Stock Exchange composite index closed down 7.089 points at 357.304.
Manila dips 4.4% on profit taking: Philippine share prices fell 4.4 per cent as investors locked in profits for the second straight day following recent strong gains, analysts said. The Philippine Stock Exchange composite index fell 75.41 points to close at 1,637.10 points.
Seoul sheds 5% amid active sell-off: South Korean share prices plunged 5 per centamid an active sell-off by foreign investors against the backdrop of the weakening yen, dealers said. The Korea Stock Exchange main index fell 21.21 points at 403.24.
Taipei dips 2.1%: Taiwan share prices ended down 2.1 per cent as sentiment was dampened by reports that a local business leader was facing financial problems, dealers said. The Taiwan Stock Exchange weighted price index dropped 145.10 points to 6,812.30, following a 0.3-per cent slip in the previous session.
Shanghai B-shares down 1.8%: Shanghai's B shares, nominally reserved for foreign investors, fell 1.8 per cent in line with declines on the Hong Kong market, dealers said. The Shanghai Stock Exchange's B-share index shed 0.61 points to settle at 33.41 points, while the A-share index of locally traded stocks finished 3.95 points, or 0.3 per cent, higher at 1,367.88 points.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
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