Ahmedabad bourse to alter trading hoursThe governing board of the Ahmedabad Stock Exchange has decided to change the trading timings on the online system from February 13. The session will now be held from 9.00 a.m to 4.30 p.m, am exchange release said on Tuesday.
SEBI to host meet: SEBI will host a meeting of the IOSCO Asia Pacific Regional Committee and the APRC enforcement directors in Mumbai between February 11-13. The meetings are expected to provide an opportunity to the securities market regulators of the Asia Pacific region to exchange their views and share common concerns on various regulatory issues. Discussions will cover the recent developments in Asia Pacific securities markets, the role of securities markets in infrastructure financing and development of debt markets among others.
SEBI gets 2 offer documents: SEBI received two letters of offer for rights issues amounting to Rs 33.02 crore during the week ended February 6. These include rights issues of KeralaChemicals & Proteins and IPI Steels Orissa amounting to Rs 31.50 crore and Rs 1.51 crore respectively. During the same week, SEBI issued one acknowledgment card for the public issue of Arihant Holdings amounting to Rs 2.90 crore. SEBI has communicated its observations in case of two issues by dividend paying companies amounting to Rs 408.25 crore. This includes the bond issue of ICICI which amounts to Rs 400 crore and the equity issue of Sun Papermills which amounts to Rs 8.25 crore.
Sensex slips 31 points: Listless trading at the BSE saw the Sensex decline by 30.65 points on Tuesday to close at 3,317.70 points. According to brokers, FII sales were recorded at the counters of Telco, Bajaj Auto, Aptech, BHEL, Digital Equipments, Indian Hotels, EIH, Gujarat Ambuja and Madras Cement. Local institutions like UTI offshore fund and LIC Mutual Fund were reportedly placing enquiries at certain index-based counters. The exchange recorded a turnover of Rs 641.86 crore.
Nifty loses 12 points: Marketsentiment weakened and pivotals witnessed a gradual decline on the NSE on Tuesday as operators sold pivotals to square-up their positions on the last day of the settlement. The NSE-50 (Nifty) Index settled at 963.70 points, down 12.40 points from the previous close. The mid-cap index lost 14.50 points to close at 1,060.30 points. The exchange recorded a total turnover of Rs 926.84 crore in 358.06 lakh shares.
Equities slip marginally on MSE: Equities recorded a marginal drop in their values at the Madras Stock Exchange on Tuesday. The MSE Share Price Index dropped to 3,664.85 from previous day's close of 3,676.84 points. ACC declined to Rs 1,257.20 from Rs 1,277, ITC to Rs 585.45 from Rs 588.60, Software Solution to Rs 126.80 from Rs 133.15 and State Bank to Rs 237.80 from Rs 240.60.
Dull day at CSE: Sluggish conditions marked trading at the Calcutta Stock Exchange on Tuesday with most shares closing unchanged. The 50-share CSE Index finished at 94.80 points, the high and low for the daybeing 96.10 and 94.75 points, respectively.
DSE Index loses 8 points: Pivotals reacted to close lower on the Delhi Stock Exchange as profit-takers and speculators made sizeable selling through the session. Brokers said domestic and foreign institutional investors were also reported to have offloaded in blue-chip stocks which further dampened the sentiment. The DSE Sensitive Index ended 7.51 points down at 716.24 points.
Skindia GDR Index up 2.64%: The Skindia GDR Index moved up by 2.64 per cent from 846.43 to 868.81 on February 9. The Skindia GDR Index p/e ratio was 18.13 on February 9 compared with 17.69 on February 6. The top gainers were Bajaj Auto, IPCL and VSNL which quoted at $17.75 ($16.50), $4.75 ($4.50) and $14.25 ($13.50). Losers included Grasim.
HK stocks close flat: Hong Kong stocks closed on Tuesday largely unchanged after spending most of the day in negative territory, putting on a late spurt as investors went bargain-hunting, brokers said. The Hang Seng Index lost13.48 points, or 0.12 per cent, to 10,859.67.
Jakarta index ends down: Jakarta's stock index closed lower on Tuesday as heavyweights Telkom and Indosat fell, but the market was otherwise bullish on a rise in the rupiah and news of new banking regulations, brokers said. The composite index closed down 11.55 points, or 2.2 per cent, at 517.70 points on a turnover of 941 billion rupiah.
Call rate ends at 9%: The overnight call money rates moved up to 8.50-9.00 per cent following an outflow of Rs 3,000 crore on account of repos transactions made by some commercial banks. The call rate opened on a firm note at 8 to 9 per cent, and moved in the range of 6 to 9.25 per cent before closing at 8.50 to 9 per cent, dealers said.
Rupee weakens against dollar: The rupee lost 7 paise against the US dollar on Tuesday following buying by SBI and the corporate sector at the fag-end of the session. The rupee opened nearly steady at 38.73/76 to a dollar and was hovering around the same level for mostpart of the day, before closing at 38.78/82.
Silver loses further ground, gold steady: Silver continued its downward trend while gold recovered moderately at the local bullion market on Tuesday. Silver .999 and raw drifted lower by Rs 80 and Rs 40 to close at Rs 8,735 and Rs 8,620, respectively following lack of demand from industrial users. Standard mint and 22-carat gold moved up by Rs 10 each to Rs 4,020 and Rs 3,720 per 10 gm on buying support.
Cotton recovers: Slower new crop arrivals and downward revisions to expectations for the Punjab crop helped cotton prices recover on Tuesday despite low mill demand. In spot deals, saw-ginned cotton rose by Rs 15/25 to Rs 1,985/2,000 per maund while Bengaldeshi was steady at Rs 1,485/1,535 per maund.
Nickel prices dip further: Nickel prices fell further at the non-ferrous metals market on poor industrial demand coupled with weak overseas advices, dealers said. Prices of other base metals, held steady. Nickel prices fell by Rs 3 to end atRs 320 per kg.
Groundnut oil gains value: Groundnut oil prices rose further on the local oilseeds market due to a sharp upsurge in its prices in Gujarat. In the edible section, groundnut oil prices improved by Rs 2 to close at Rs 365 per kg.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
