Net FII inflows at $199m in February:Net portfolio inflows by foreign institutional investors totalled $198.6 million in February compared to an outflow of $81.7 million in January, Sebi said on Tuesday.Special margin on Indo Rama shares: BSE has decided to impose a special margin of Rs 5 on the equity shares of Indo Rama Synthetics India from March 3.
Margin on Sesa Goa stays: The special margin of Rs 100 imposed on the equity shares of Sesa Goa by the BSE from February 23 would continue to be in practice till further notice.
BSE to delist Sandoz India: BSE has decided to delist the following companies as they have been merged/amalgamated/ordered to be wound up with immediate effect: Boehringer-Mannheim India, Mac Industries, Sandoz (India), Croslands Research Laboratories, Delta Industries, Asian Cables & Industries (equity shares along with 15 and 18 per cent NCDs), Upcom Cables, Tamilnadu Dadha Pharmaceuticals, South India Shipping Corporation, Videocon NarmadaElectronics (equity shares and 10 per cent debentures B & C), Firth (India) Steels, Poysha Industrial Company (equity and 12 per cent debentures of Rs 50, 14 per cent debentures convertible part A and non-convertible part B).
Tata Chemicals' 14% NCD to be delisted: The securities of the following companies will be delisted from the BSE as they have been redeemed/converted into equity shares: 14 per cent NCD (II series) of Tata Chemicals, Deep Discount Bonds of Lloyds Steel Industries, 14 per cent NCDs VII series and 12.5 per cent partly-convertible debentures I series of Grasim Industries, 14 per cent NCDs of Videocon VCR, 18 per cent secured NCDs of United Leasing, cumulative convertible preference shares of Pal Credit & Capital, 9 per cent tax-free bonds (B series) of Neyveli Lignite Corporation, 12.5 per cent partly-convertible debentures of Mahindra Ugine Steel Co, 14 per cent secured redeemable NCDs (Part A) of Gujarat State Fertilisers & Chemicals, 14 per cent NCDs of Rs 200 each of VBC FerroAlloys, Canpremium Scheme of Canbank Mutual Fund, 6.5 per cent debentures (1998) of ICICI, 14 per cent secured non-covertible debentures of Greaves and 11 per cent redeemable cumulative preference shares of Rs 100 each of Assam Petrochemicals.
MSE Index loses 73 points: The prospect of a hung parliament affected market sentiment at the Madras Stock Exchange on Tuesday with equities heading southwards. The MSE Share Price Index reacted to 3,883.61 from the previous close of 3,957.00 points. ACC declined by Rs 43.80 to Rs 1,450, ITC by Rs 13.05 to Rs 691.85, Reliance by Rs 6.05 to Rs 160.70, Telco by Rs 14.25 to Rs 241.45, L&T by Rs 9.05 to Rs 228.80 and State Bank by Rs 7.20 to Rs 261.15.
Scrips react on CSE: Share prices reacted on the Calcutta Stock Exchange on Tuesday with ITC leading the fall. The scrip fell well below the Rs 700-mark. The 50-share CSE Index finished at 103.77 points after moving between 108.28 points and 102.54 points.
DSE shares end lower: Heavyweight equitiesfell sharply on the Delhi Stock Exchange on Tuesday on massive offerings by operators. Brokers attributed a part of the selling to profit-booking. The DSE Sensitive Index dipped to 777 points before winding up at 785.16 against the previous close of 811.51 points. ACC lost Rs 84 to finish at Rs 1,420, while L&T dropped by Rs 8.20 to close at Rs 228.80.
Skindia Index up 0.86%: The Skindia GDR Index improved by 0.86 per cent from 977.19 to 985.57 on March 2. The Skindia GDR Index p/e ratio was 21.58 on March 2 compared with 21.31 on February 27. The top gainers were Indo Rama, Indian Aluminium and Mahindra and Mahindra which quoted at $4.00 ($3.00), $3.25 ($2.50) and $9.25 ($8.00).
HK stocks close firmer: Hong Kong stocks closed higher on Tuesday, lifted by gains in index major HSBC Holdings after a bumpy ride that offered little news to trade on, brokers said. The Hang Seng Index ended 106.62 points, or 0.94 per cent, higher at 11,425.46. Turnover shrank to HK$7.54 billion, nearly halvingMonday's HK$14.74 billion, with investors waiting on the sidelines for fresh incentives to trade on.
KL shares fall 1.62%: Bank shares led in the market's sharp fall on Tuesday as concerns over the financial strength of Sime Darby's banking unit spread to other financial stocks. At the close, the Kuala Lumpur Stock Exchange's key Composite Index was down 12.09 points or 1.62 per cent to 733.03.
Jakarta stocks close up over 4%: Jakarta stocks closed more than 4 per cent higher on Tuesday as investors gained confidence that the government will get international and domestic support for its IMF-Plus program, brokers said. The Composite Index ended up 21.96 points, or 4.4 per cent, at 518.69.
Call rate ends at 9%: The overnight call money market witnessed a steady trend on Tuesday with ample loose liquidity in the system to meet the limited demand of borrowers. Call rates opened at 9-9.10 per cent, traded in the range of 8.75-9.25 per cent and eventually closed at 8.75-9 per cent. Mostof the business was transacted in the region of 8.75-9 per cent, dealers said.
Rupee recovers marginally: The rupee touched a low of 39.60 on Tuesday and finally closed at 39.44/48. Opening at 39.48/55, the Indian unit slipped immediately to touch 39.58/60 on buying by SBI. The weakening of the rupee in the initial part of the day was due to SBI's dollar purchases on behalf of the corporates. The rupee eventually closed at 39.44/48, marginally stronger than Monday's closing level of 39.51.
Gold, silver lose ground: Prices of both silver and gold reacted on the local bullion market on Tuesday following increased arrivals amidst poor offtake. Ready silver of .999 fineness and raw silver of .916 fineness lost Rs 20 each to end at Rs 8,880 and Rs 8,730. Standard gold also lost Rs 20 to end at Rs 4,030.
Castorseed steady: Castorseed June delivery held steady at Rs 1,240/1,241 per quintal in a slow market on Tuesday as traders watched the results filter through from elections held at theweekend, floor sources said.
Cotton rallies as mill buying reappears: Cotton prices rallied on Tuesday on the local market as lower prices drew buying from mills, while supplies were limited. In spot deals, Bengal-deshi rose by Rs 10 to Rs 1,460/1,500 per maund.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
