Sensex crosses 4,100 points on buying by FIIs, speculators
Aggressive buying by foreign institutional investors (FIIs) coupled with speculative buying by local punters saw the 30-share BSE Sensitive Index pierce the crucial barrier of 4,122 to close at 4,170.22 points, up 94.17 points over the previous close. The Nifty index made a smart recovery of 13.65 points to close at 1,187.10 with the NSE recording a turnover of Rs 1,700.79 crore. The turnover on the BSE touched a high of Rs 1,552.01 crore.
ISE sets April 20 deadline for regional exchanges to clear d
The Inter-Connected Stock Exchange of India Ltd (ISE) has fixed April 20 as the last date for the regional stock exchanges (RSEs) to clear their dues. RSEs who fail to make the first installment payments will be charged interest at the rate of 21%. Further, they will be able to rejoin the system only after they have cleared the dues.
OTCEI dealers seek lower fee for permitted segment
Dealers at Over The Counter Exchange of India (OTCEI) have urged their recently appointed managing director Joseph Bosco to lower the hefty Rs 2 lakh fee payable for trading in the permitted segment of the exchange. OTCEI is battling for survival with daily volumes down to a dismal Rs 7 lakh.
Regulator to probe into LML's scrip movement
Sebi has initiated a probe into the unusual trading pattern witnessed in the LML scrip in January ahead of the no-delivery period. The regulator has sought details from stock exchanges on the LML scrip movement between mid-January and end-February. It is learnt that Sebi has approached the Bombay and National stock exchanges for details on the same.
Ludhiana bourse unveils modified carryforward system
Ludhiana Stock Exchange has become the second bourse in the country to introduce modified carryforward system after Mumbai Stock Exchange. The exchange has also introduced a settlement guarantee fund (SGF). The two new concepts came into existence from April 6. While SGF would guarantee settlement of transactions, the carryforward facility is expected to provide liquidity to the market.
Sebi launches prosecution in 10 cases
In a move aimed at nailing down individuals and entities failing to abide by it's regulatory framework, Sebi has filed criminal complaints and launched prosecution in 10 cases. These cases have been filed against individuals and entities under Section 24 of the Sebi Act, 1992, for violation of the Sebi Act and also under Section 621 of the Companies Act, 1956. Sebi has also lodged criminal complaints against Avinash Magan and 16 other entities who were found guilty of insider trading.
