NSE revises unrectified bad delivery charges: NSE has revised charges for unrectified bad delivery from 0.1 per cent to 0.05 per cent per day, short delivery of securities from 0.1 per cent to 0.05 per cent per day and failure to pay funds including valuation debits, margin shortages, utilisation fund etc from 0.15 per cent to 0.09 per cent per day. The revised charges shall be effective from April 1. A revision has also been made in the limit for early pay-in of funds and securities. Members are now allowed to make an early pay-in of funds and securities if the value is more than Rs 1 crore (as against Rs 3 crore earlier).19 merchant banks fail to renew registration: SEBI has advised seven category I merchant bankers not to carry out any activities as their certificates of registration have expired and they have not applied for renewal. The merchant banks include HDFC Bank, Birla Financial Corporation, Amrut Credit Corporation (I), Credential Finance, Pittie Finance, Trendz Finanz and YashManagement & Financial Service. The markets regulator has also announced a list of 12 other merchant bankers whose registration certificates have expired. These are Axiome, Aryan Capital Services (P), Avon Capital Services, Bonanza Business Services, Farsight Consultants, Kalani Industries, Pallonji Leasing, Pacific Capital Markets, Shanteri Investment, Stellar Equity Management Services, Syncrofin Services, Venturecorp Consultants.
Prudential ICICI AMC has new HRD manager: Prudential ICICI Asset Management Company, a 55:45 joint venture between Prudential Corporation of the UK and ICICI, has inducted Nalin Garg as general manager, human resources, into the AMC. This is the first such appointment of its kind in an Indian AMC. Garg will look after the recruitment, training and development of new recruits and existing employees, compensation packages, performance evaluation and management.
BSE's F group trades to be routed via custodians: The BSE has decided to allow its member-brokers toroute their trades in F group securities through custodians from March 26. The custodians can participate in this segment by confirming their trades through the 6A/7A trade confirmation screen.
Nifty gains 4 points: Pivotals ended marginally higher on the NSE on Friday on speculative support from domestic institutions and squaring up of positions on the BSE. The NSE-50 Index settled at 1,109.60, gaining 3.80 points over the previous close. The Mid-cap Index closed at 1,302.50, up 17.60 points. The exchange reported a total turnover of Rs 1,245.57 crore in 588.15 lakh shares.
OTCEI Index ends marginally down: Equity prices declined on the OTCEI on Friday due to heavy liquidation by investors and domestic institutions. The OTCEI Composite Index opened at 95.45 and closed at the day's low of 94.70, losing 0.75 of a point over the previous close. The total turnover on the exchange was Rs 23.23 lakh.
MSE Index up 31.50 points: Equities gained ground at the Madras Stock Exchange onFriday. The MSE Share Price Index gained 31.50 points to close at 4,026.00. ITC improved by Rs 3.40 to Rs 725.20. Satyam Computers by Rs 20.65 to Rs 277.35 and Software Solution by Rs 4.70 to Rs 158.90. Telco spurted by Rs 11.75 to Rs 274.25 and Tisco by Rs 3.25 to Rs 149.75. Reliance recovered by Rs 1.65 to Rs 177.85.
Mixed trend on BgSE: Share prices remained divergent on the Bangalore Stock Exchange on Friday. According to marketmen, sentiment was at a low ebb as operators preferred to wait and watch. The turnover on the bourse stood at Rs 26.69 crore. ITC firmed up to Rs 726.75 from an opening of Rs 725.70. SBI and L&T declined to Rs 275.90 (Rs 276.35) and Rs 228.25 (Rs 230.60) while Reliance and Tisco were better at Rs 175.65 (Rs 175.25) and Rs 148.05 (Rs 145.45) respectively.
Skindia Index up 0.19%: The Skindia GDR Index moved up by 0.19 per cent from 935.18 to 936.98 on March 19. The Skindia GDR Index p/e ratio was 20.33 on March 19 as against 20.31 on March 18. The top gainers of theday were Hindalco, Bajaj Auto and L&T. Losers included BSES, MTNL and Indian Hotels.
KL stocks end mixed in choppy trading: Shares ended mixed in choppy trading with investors wary about pushing up prices after Thursday's jump and ahead of the weekend, analysts said. But their support to a range of key stocks kept the market hovering near the previous close, they said. The benchmark Composite Index of the Kuala Lumpur Stock Exchange ended 0.20 of a point higher to 731.24.
HK stocks trim gains: Hong Kong stocks erased some of their early gains but ended the week on a firm note as investors hoped Hong Kong banks would cut interest rates later on Friday, brokers said. The Hang Seng Index climbed 119.19 points, or 1.04 per cent, to close Friday at 11,564.23 after hitting an intra-day high of 11,715.67. Turnover picked up to a healthy HK $12.20 billion against Thursday's HK$9.02 billion.
Call rate ends at 8.50%: The overnight call rate improved further on the interbank call money marketon Friday following a good demand for funds by commercial banks. The market opened at 8.75-9.00 per cent and closed at 8.25-8.50 per cent.
Rupee remains rangebound: The spot rupee remained rangebound on Friday and reacted in a lukewarm manner to the appointment of Yashwant Sinha as the finance minister. On Friday, the rupee opened at 39.52 and closed at 39.51, a tad stronger than its previous close of 39.54.
Silver, gold prices fall: Silver and gold prices turned weak on Friday on poor local demand. Ready silver of .999 fineness fell by Rs 70 to close at Rs 8,230. Standard gold eased by Rs 10 at Rs 3,940.
Punjab cotton rebounds, Gujarat steady: Punjab cotton bounced back on eased supplies while Gujarat varieties were steady on the cotton market on Friday, dealers said. In the spot deals Bengal-deshi rose by Rs 5/10 to Rs 1,530/1,575 per maund (37.32 kg) while saw-ginned cotton rose by Rs 20 to Rs 2,000/2,120 per maund.
Groundnut oil eases: Groundnut oil prices eased on theoilseeds market on Friday due to poor local demand coupled with weak Gujarat advices. In the edible section, groundnut oil eased by a rupee to close at Rs 384 while groundnut bold held steady at Rs 1,960. Castor oil commercial closed unchanged at Rs 270.
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