Badla rates stabilise at 18%
The imposition of 50% margins on `teji badla' caught market participants, on the the Bombay Stock Exchange (BSE), by surprise as its president JC Parekh had made positive statements regarding the health of the exchange. Carryforward rates on the BSE recorded wild swings during the first phase of the session, from a high of 27% to a low of 10% before finally stabilising at 18% annualised.

GDR Skindia Index steady
Dark clouds of south-east Asian crisis continued to dampen the sentiments of the GDR market-makers. Mirroring the unnerved mood of the market participants throughout south-east Asia, the Skindia GDR index plunged to an all-time low of 646.99 points on June 10.

Precious metals decline; cotton, sugar improves
Gold and silver prices extended losses on the bullion market yesterday. Standard gold declined by Rs 15 at Rs 4,150 per 10 gm. Gold .22 carat fell by same margin at Rs 3840 per 10 gm.