SEBI allows BOLT expansion to RajkotSEBI on Monday permitted the BSE to expand its BOLT network to Rajkot, subject to fulfilment of certain conditions. This follows the permission granted to BSE recently to expand its network to the Pune and Calcutta exchanges.
Reliance Capital unveils Liquid Fund
Reliance Capital Mutual Fund launched the "Reliance Liquid Fund" on Monday. The open-ended fund will offer repurchase facility and an easy exit route to investors within 24 hours under normal circumstances. It will carry no load and have no lock-in period. The fund plans to raise about Rs 100 crore. It will close for subscription on Wednesday and then re-open again after five days. Reliance Capital Mutual has already launched three funds, the last of which had entered the market in December, 1997.
BOLT to go live in Calcutta by month-end
The governing board of the BSE tabled the suggestions made by MG Damani to SEBI last week to revive the secondary market. Besides this the board alsodecided to initiate steps to take the BOLT network to Calcutta and Rajkot by March-end.
Tractor sales pick up in Feb
After a perceptible slowdown during the last few months, tractor sales have staged a recovery during February. The industry sold 20,534 tractors last month as against 18,019 sold in February, 1997, recording a growth of 14 per cent. Riding high on this recovery, tractor scrips Mahindra & Mahindra and Punjab Tractors have both gained 18 per cent on the bourses.
BSE imposes margin on 6 scrips
BSE has imposed a special margin on the following stocks from March 16: Barasia Holdings (Rs 25), Globe Stock (Rs 7), Harayana Metals (Rs 50), Indo Rama Synthetics (Rs 5), Sesa Goa (Rs 100) and Tasty Bite (Rs 6).
Nifty up 13 points
Share prices rose sharply on the NSE on Monday following fresh buying by foreign funds. The NSE-50 index settled at 1,090.45, gaining 12.95 points over the previous close. The Mid-cap Index closed at 1,246.65, up 16.55 points. The exchange reporteda total turnover of Rs 1,247.51 crore.
MSE Index gains 16 points
Most equities ended with marginal gains on the Madras Stock Exchange on Monday. The MSE Share Price Index gained 16.16 points to settle at 3,973.42. ACC moved up to Rs 1,440 from Rs 1,359. ITC ended a shade higher at Rs 723.55. LMW spurted to Rs 1,945 from Rs 1,920 and Pond's to Rs 1,155 from Rs 1,139.35. L&T improved by Rs 4.65 to Rs 229.75, Reliance by Rs 7.15 to Rs 177.60 and SBI by Rs 5.85 to Rs 278.75.
DSE Index gains 16 points
Shares staged a recovery on the Delhi Stock Exchange on Monday following fresh buying by speculators and investors. Brokers said the formation of a new government at the centre had been responsible for the buying interest. The DSE Sensitive Index settled at 820.70 points, up 16.39 points. Reliance settled at Rs 177.40 against Friday's close of Rs 168.75.
OTCEI Index ends little changed
Share prices ended marginally higher on the OTCEI on Monday. The OTCEI Composite Index opened at93.70 and closed at 93.73, up 0.03 of a point over the previous close. The exchange reported a total turnover of Rs 48 lakh in 9,321 shares and debentures.
BgSE shares end on a firm note
Equities witnessed a firm trend at the Bangalore Stock Exchange on Monday. According to marketmen, there was good buying support in pivotals like Reliance and Tisco. The turnover on the bourse stood at Rs 22.96 crore. ITC remained volatile and closed lower at Rs 724.15 (Rs 726.85) on heavy selling pressure. Reliance and SBI remained active at higher levels of Rs 177.15 (Rs 173.30) and Rs 277.40 (Rs 274.30) while BFL Software was unchanged at Rs 106. L&T declined to Rs 228.90 (Rs 229.05) whereas Tisco firmed up to Rs 139.60 (Rs 136.85).
Skindia Index gains 1.62%
The Skindia GDR Index moved up by 1.62 per cent from 906.46 to 921.19 on March 13. The Skindia GDR Index p/e ratio was 20.03 on March 13 compared with 19.77 on March 12. The top gainers were Indian Aluminium, ICICI and Telco which quoted at $3.25($2.65), $15.50 ($14.80) and $7.75 ($7.40). Losers included Finolex Cables, Videocon International and Crompton Greaves.
HK stocks drift to higher close
Hong Kong stocks drifted to a higher Monday close in subdued trade as cautious investors remained on the sidelines with little news to trade on, brokers said. The Hang Seng Index gained 124.51 points, or 1.13 per cent,to end at 11,181.54 in slim turnover of HK $5.0 billion compared with Friday's HK$5.2 billion.
Jakarta stocks rise
Jakarta stocks closed marginally higher in quiet trading on Monday as some local investors grabbed shares related to new cabinet ministers, but foreigners still awaited news on IMF reforms, brokers said. The Composite Index ended up 4.05 points, or 0.8 per cent, at 510.79 points. Gainers led losers 68 to 50 on turnover of 372 billion rupiah.
Call rate ends unchanged
The overnight call money market witnessed a marginally high interest rate on Monday. The call rates opened at 9.25-9.50 per cent, easeda little in the afternoon and finally closed at 9.25-9.50 per cent. "The market was squarish on Monday. Meanwhile, the overall demand was good as compared to last week," a dealer from a nationalised bank said.
Rupee ends down
The spot rupee remained rangebound on Monday and closed at 39.55 - marginally weaker than the previous close of 39.50. Opening at 39.49/50, unchanged from the previous close, the rupee gained slightly to 39.47 on some selling pressure. But late buying pressure from SBI saw the rupee weaken considerably to the 39.53 level.
Castorseed market closed as traders protest
The castorseed forward market in Mumbai was shut on Monday as traders stayed to protest proposed amendments to the city's Rent Control Act, dealers said. On Monday groundnut oil rose by Rs 2/3 to Rs 374/375 per 10 kg on fresh seasonal buying.
Metal market shut
The Mumbai metal market was closed on Monday as traders downed shutters to protest against the city's new Rent Control Act which affectsthem adversely, Sharad Parikh, president of the Bombay Metal Exchange, said. "The market will reopen for trading on Tuesday," he said.
Copra prices end sharply down
Copra prices declined sharply on the local spices market on poor demand in the face of fresh arrivals, traders said. Pepper, ginger and copra Rajapur (Mumbai) markets remained closed due to the trade bandh on bandh. Copra edible (Mumbai) jumped by Rs 200 to close at Rs 3,500 per quintal.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
