No-delivery period for A group: BSE has informed its members that the no-delivery period for A group scrips from July 27 will be for four settlements. This revised criterion will be applicable to all A group scrips whose first no-delivery settlement will commence from settlementnumber 20 (1998-99).

S&P CNX Nifty gains 18 points: Pivotals firmed up on last day of the settlement on the NSE following hectic shortcovering by operators and good buying support from financial institutions. The newly introduced S&P CNX Nifty Index ended at 917.25 points, moving up by 17.9 points from the previous close. The CNX Nifty Junior Index closed at 1,433.90, rising 37.20 points. The total turnover on the exchange was Rs 1,461.19 crore.

CSE shares gain lost ground: Share prices reversed Monday's downtrend on the Calcutta Stock Exchange following shortcovering by operators. The 40-share CSE Index touched a high of 1,811.33 points and an intra-day low of 1,772.73 points. ITC recovered to Rs 648.60, Bata to Rs 209.20, BSES to Rs 145.50, L&T to Rs 206.10, Tisco to Rs 106.20 and Tata Tea to Rs 282.70.

MSE shares recover: A late rally on the Madras Stock Exchange wiped out initial losses on Tuesday. The MSE Share Price Index moved in a narrow band before closing at 3,534.62points, gaining 3.69 points. ITC recovered by Rs 13.60 to end at Rs 644, Satyam Computers by Rs 38 to Rs 520.05 and Software Solution by Rs 19.70 to Rs 345. Reliance edged up by Rs 1.45 to Rs 134.00.

DSE Index up 18 points: Frenzied purchases by domestic financial institutions led by UTI and LIC lifted share prices on the Delhi Stock Exchange on Tuesday. The DSE Index recovered by 18.47 points to close at 704.14 points. Brokers said sizeable short-covering by bear operators also aided market sentiment. Reliance recovered by Rs 3.45 to close at Rs 134.75.

BgSE shares recover: Equities recovered at the Bangalore Stock Exchange on Tuesday. According to marketmen, there was good buying in most of the counters. The turnover on the bourse stood at Rs 29.55 crore. ITC closed higher at Rs 649.15 from an opening of Rs 629.55 while DSQ Software was unchanged at Rs 228. Satyam Computers, SBI, Reliance and Tisco saw better fortunes today at Rs 518.60 (Rs 486.40), Rs 202.65 (Rs 196.05), Rs 135 (Rs 131)and Rs 106.60 (Rs 102.20). Among others Karnataka Bank was traded at Rs 70.05 (Rs 68.60) and L&T at Rs 206.15 (Rs 197.75).

Demat turnover at Rs 4 cr: The demat segments of the NSE and BSE on Tuesday witnessed trades worth Rs 3.94 crore from 1.59 lakh shares. At the NSE, 3,408 shares of SBI valued at Rs 6.84 lakh, 9,042 shares of Reliance worth Rs 12 lakh and 3,610 shares of ICICI valued at Rs 2.72 lakh were traded. On the BSE, 56,800 shares of HPCL valued at Rs 184 lakh, 45,000 shares of SBI valued at Rs 89.25 lakh and 26,500 shares of BPCL valued at Rs 86.12 lakh changed hands.

NSE debt market turnover at Rs 342 cr: The wholesale debt market of the NSE witnessed trading worth Rs 341.78 crore. The 11.55 per cent government loan maturing in 2001 was traded for Rs 50 crore at a weighted yield of 11.49 per cent. The 12.22 per cent government loan maturing in 2008 was traded for Rs 33 crore at a weighted yield of 12.19 per cent. The 14-day treasury bill maturing on August 8, 1998 was traded forRs 40 crore at a weighted yield of 6.45 per cent.

Skindia Index falls 0.10%: The Skindia GDR Index fell by 0.10 per cent from 641.05 to 640.43 on July 27. The Skindia GDR Index p/e ratio was 14.82 on July 27 compared with 14.87 on July 24. The top gainers were Telco, Jain Irrigation and L&T which quoted at $3.10 ($2.25), $1.00 ($0.75) and $9.65 ($9.50). Losers included Arvind Mills, GE Shipping and Videocon International.

Call rates end at 7%: The overnight rates opened at 6.00-6.25 per cent on Tuesday, higher than their previous close of 5.75 per cent. Throughout the morning, the rates quoted at the opening level. However, in the afternoon the rates tightened to finally close at 6.75-7.00 per cent.

Rupee slips vs dollar: Dull trades continued to swamp the forex market on Tuesday. The local currency opened at 42.55/57, lower than its previous close of 42.52/54. In later trades, the rupee gained to an intra-day high of 42.53, but soon weakened and closed at its openinglevel.

Forward premium dips: Long forwards dipped by 5 paise to 10 paise with the State Bank of India receiving actively. "There was little paying pressure with most corporates having covered up to August," dealers said. February premiums ended at 185/188 paise (190/195 paise), March at 221/224 paise (228/233 paise) and April at 255/258 paise (262/268 paise). The six-month annualised forward cover closed at 7.30 per cent compared with its previous close of 7.53 per cent, and the one-year one at 8.43 per cent (8.63 per cent).

Silver, gold prices ease: Both the precious metals eased further at the local bullion market on Tuesday. Silver .999 and raw declined by Rs 5 and Rs 20 to end at Rs 8,325 and Rs 8,205 per kg respectively following lack of buying interest. Standard mint and 22-carat gold drifted down by Rs 5 each to end at Rs 4,245 and Rs 3,925 per 10 gm.

Groundnut oil prices rise: Groundnut oil prices continued to rise on Tuesday due to higher Gujarat advices coupled with poorarrivals. Groundnut oil improved by Rs 3 to end at Rs 507. Groundnut bold, however, held steady at Rs 2,060. In the futures market, castorseed September contract closed at Rs 1,651, up Rs 6 over the previous close.