Alliance '95 has been the top performing open-ended fund across all categories in 1997-98. A balanced fund, Alliance '95 has appreciated by a mammoth 62.10 per cent during the year, compared with a gain of 15.8 per cent in the Sensex. If one were to exclude Alliance '95, the open-ended balanced have grown by an average 13.43 per cent. The second best fund in the balanced category is JM Balanced (dividend) which grew by 25.64 per cent.

BSE, NSE, commodity markets closed: All major markets in Mumbai, including the BSE, NSE, OTCEI along with bullion, oilseeds, metals, cotton, spices, sugar, turmeric and other kirana markets remained closed on Friday for Maharashtra Day/May Day.

FTSE 100 surges 1%: The FTSE 100 climbed more than one per cent on Friday, hurdling the psychologically key 6,000 level, as strong company results bolstered an already confident market, dealers said. The index was 74.7 points up at 6,003 by 0930 GMT with FTSE futures 70points ahead at 6,040.

HK stocks close sharply higher: Hong Kong stocks closed sharply higher on Friday in a technical rebound on low turnover that left brokers convinced that the index would drift lower in the coming week. The Hang Seng Index closed 180 points, or 1.73 per cent, higher at 10,563.68, but well off the day's high of 10,613.29.

Jakarta index ends sharply down: Jakarta stocks ended sharply lower on Friday as persistently bearish investors carried on selling, worried about Indonesia's gloomy political and macro-economic outlook, brokers said. The Jakarta index closed down 11.61 points, or 2.52 per cent, at 448.53 points. The composite index fallen around 16 per cent since April 8, when it stood at 530 points.

Japan stock market seeks clues: After finding no immediate incentives in Japan's recently announced economic stimulus package, stock investors are looking to corporate earnings reports and restructuring plans for clues to market direction. The 225-share Nikkeiaverage closed 40.16 points lower at 15,601.10.