BSE to issue statement on volatility margins: In the absence of software updates for the computation of additional volatility margin (AVM), BSE has decided to issue separate statements for the AVM on a daily basis whenever applicable and distribute the same to the brokers from the kapli room with effect from July 8. Further, this amount would be directly debited to the bank accounts of the brokers along with the daily margin on the subsequent trading day.

LIC sells 43 lakh shares of Indal: LIC has sold 43 lakh equity shares of Indian Aluminium at the rate of Rs 200 per share constituting 6.09 percent of the paid-up capital of the company on July 2, in terms of the open offer made by the Alcan Aluminium on April 29.

Cummins India board meet: The board of directors of Cummins India Ltd will meet on July 27 to take on record the unaudited financial results of the company for the quarter ended June 30, 1998.

Vinyl Chemicals board meet: The board of directors of Vinyl Chemicals (India) Ltd will meet on July 28 to consider the unaudited financial results (provisional) of the company for the quarter ended June 30, 1998.

Nifty up 19 points: Pivotals continued to gain ground on the opening day of the current settlement on the NSE following good buying support by FIIs and bull operators. Mirroring the uptrend, the NSE-50 index moved up by 19.45 points to end at 944.15 points. The Mid-cap Index shot up by 37.35 points to close at 1,405 points. The total turnover stood at Rs 1,235.05 crore.

DSE shares gain on buyback news: An upward trend gathered momentum at the Delhi StockExchange on Wednesday with stock prices soaring further on continued buying by foreign as well as domestic institutions and speculative activity, triggered by news of buyback of shares being cleared by law minister Thambi Durai. The DSE Index improved by 10.64 points to close at 717.28 points.

MSE Index sheds 12 points: Software counters defied the weak undertone in trading and forged ahead on the Madras Stock Exchange on Wednesday. However, profit-taking saw the MSE Index shed 11.57 points to close at 3,708.24 points. Satyam Computers firmed up by Rs 25.55 to Rs 451.25, DSQ Software by Rs 13.85 to Rs 267.35 and Silverline by Rs 5.90 to Rs 77.10.

Steady trend on OTCEI: Share prices remained steady at the OTCEI on Wednesday following restricted activity. The OTCEI Composite Index opened at 114.18 points and after moving in a very narrow range, closed at the same level, showing no change from the previous close.

Skindia Index up 6.82%: The Skindia GDR Index moved up by 6.82 per centfrom 652.02 to 696.50 on July 7. The Skindia GDR Index p/e ratio was 16.17 on July 7 compared with 15.08 on July 6. The top gainers were Raymond Woollen, Bajaj Auto and Crompton Greaves which quoted at $3.90 ($3.40), $17.65 ($15.50) and $0.95 ($0.85) respectively.

Call rates end at 6.75%: The call money rates moved up a tad on Wednesday following buying pressure from banks. The call rates opened higher at 6.50 per cent, compared with their previous close of 5.50-6.00 per cent. Later the rates edged up to 6.75-7 per cent, but finally fell and closed at 6.50-6.75 per cent. Most deals were struck at 6.25-6.50 per cent and a few stray deals at 7 per cent, dealers said.

Rupee ends down: Good corporate demand saw the rupee weaken by 9 paise from its opening levels on Wednesday. A foreign bank bought dollars on behalf of one of the corporates which had a huge portion uncovered, dealers said. The rupee opened at 42.47/49, unchanged from its previous close, and weakened on selective buying pressureto 42.61/62. Subsequently, it appreciated to close at 42.56/57 as demand tapered off.

Silver, gold firm up: Prices firmed up at the bullion market on Wednesday on higher overseas advices coupled with thin supply. Ready silver (.999) and raw silver moved up by Rs 45 each to end at Rs 8,095 and Rs 7,975 respectively. Standard gold and 22-carat gold recovered by Rs 10 each to end at Rs 4,285 and Rs 3,965.

Copper, brass prices fall: Copper and brass prices fell further on Wednesday on weak London advices coupled with poor industrial demand. Other metals held steady on restricted activity. Copper scrap heavy fell to Rs 113 and brass scrap to Rs 88 (Rs 88.25).

Groundnut oil prices at new high: Groundnut oil prices rallied on Wednesday following poor arrivals from producing centres. Groundnut oil moved up by Rs 3 to end at yet another record high of Rs 503. Groundnut bold held steady at Rs 2,060.