NSE closed on Monday for elections: NSE will stay closed on February 16 for national elections, the exchange said in a statement on Friday. The NSE said "more than 30 per cent" of its members are located in the states that vote on Monday. The wholesale debt market segment will be open on February 16 but closed on February 28, the NSE said.ITDC shares to be traded on BSE: The equity shares of India Tourism Development Corporation (ITDC) will be available for trading on the BSE with effect from February 16 in market lots of 100 shares. The public holding in the company is only three per cent as per the shareholding pattern of the company collated on January 28, 1998.
Margin on Globe Stocks: The BSE has decided to impose a special margin of Rs 5 on the equity shares of Globe Stocks & Securities from February 13.
Nifty Index rises 18 points: Share prices recovered on the NSE on heavy buying by foreign funds as well as local speculators. The NSE-50 index settled at 974.55, up17.90 points over the last close. The Midcap Index closed at 1,065.50, gaining 4.55 points. The exchange reported a turnover of Rs 1,325.16 crore in 377.66 lakh shares.
HLL leads the way on CSE: In an otherwise dull market, select scrips like ITC and Hind Lever ruled distinctly steady today on the Calcutta Stock Exchange on Friday. The 50-share CSE Index finished the day at 96.23 points with the day's high and low being 96.49 points and 94.03 points, respectively.
DSE Index up 19 points: Equities recovered on the Delhi Stock Exchange on Friday following fresh pre-election buying. Domestic and foreign funds reportedly bought shares of multinational companies which also influenced the market trend. The DSE Sensitive Index gained 19.19 points to settle at 731.52. Hindustan Lever's shares soared to Rs 1496.90 on frantic purchases by speculators and FIIs.
NSE debt market turnover at Rs 173 cr: The wholesale debt market of the NSE witnessed trades worth Rs 173.06 crore. The 12.5 per centgovernment stock maturing in 2004 was traded for Rs 50 crore at a weighted yield of 12.03 per cent. The 14 per cent government loan maturing in 2005 was traded for Rs 40.04 crore at a weighted yield of 12.24 per cent. The 364 days T-bill maturing on April 24 was traded for Rs 25 crore at a weighted yield of 12.25 per cent.
OTCEI Index up marginally: Share prices improved further on the OTCEI on increased speculative buying. The OTCEI Composite Index opened at 114.59 and closed at 114.86, showing a small rise of 0.27 point over the last close of 114.59.
Skindia Index loses 1.68%: The Skindia GDR Index dropped by 1.68 per cent from 857.37 to 842.92 on February 12. The Skindia GDR Index p/e ratio was 17.74 on February 12 compared with 17.88 on February 11. ITC was the top gainer at $22.00 ($21.88). Losers included Reliance, IPCL and EI Hotels.
HK stocks depressed by region: A resurgence of regional worries knocked Hong Kong stocks to a sharply lower close on Friday and brokers saidprices may see a little more downside next week after hitting a two-month high this week. The Hang Seng Index ended on a loss of 345.43 points, or 3.25 per cent, at 10,274.60 after reaching a low of 10,148.66 during the day.
Call rate ends at 1%: Low key activity was witnessed at the overnight call money market on Friday due to slack demand for funds, as it was reporting Friday and most banks had already covered their positions. Call rates opened around 3-4 per cent and dipped to one per cent at the close.
Rupee steady: The inter-bank forex market was dull on Friday. The Indian unit opened at 38.78 to the greenback, unchanged from its previous close. The greenback quoted at 38.78 levels in early trading. The dollar moved in the 38.79/80 band for most part of the day, dealers said. The dollar's high for the day was Rs 38.80, while its low was Rs 38.67. At close, the greenback quoted at 38.76/77.
Forward premiums end stronger: Long-term forward premiums closed stronger on Friday. Thesix-month annualised forward cover went up to 14 per cent at close of trade. February premiums finished at 8/9 paise, March at 49/56 paise, April at 108/115 paise and May at 147/157 paise.
Gold prices ease, silver up marginally: Gold prices eased while silver prices rose moderately on the local bullion market on Friday. Standard gold and 22-carat gold lost Rs 20 each to close at Rs 3,980 and Rs 3,680. Ready silver of .999 fineness improved by Rs 10 to settle at Rs 8,690.
Sugar steady: Sugar prices remained unmchanged from the previous close at the local wholesale sugar market on scattered dealings, traders said. Small sugar quality S-30 ended the day unchanged at Rs 1,450/1,485. M-30 closed at Rs 1,465/1,545.
Markets closed: The oil, oilseeds (ready and forward) markets remained officially closed on Friday due to the death of Vasanji Lakhmshi, former vice-president of the Oil Exchange and a leading dealer. The undercurrent in the market remained firm in kerb trading while castorseedremained quiet in range-bound trading.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
