LIC Mutual Fund's Dhanvarsha 13, which closes for subscription on September 14, is likely to end with a final collection figure of around Rs 140 crore. Collections in the scheme have already crossed Rs 115 crore. ``We hope to get anything between Rs 130 and Rs 150 crore. The response to Dhanvarsha 13 has been very good and collections are on target,'' said R G Sharma, head, LIC Mutual Fund. Meanwhile, the AMC also plans to launch an open-end bond fund in the next couple of months.

Sensex outperformers: There have been no dearth of market outperformers in this nervous-ridden market. The Sensex's upsurge of around 8.6 per cent in five trading sessions to around the 3100-mark led to a wide-spread rally which percolated to group B1 as well. As many as 50 scrips in Group A have outperformed the Sensex while more than 170 stocks in the B1 group have outperformed the Sensex. Core sector stocks like cement, power, engineering and construction and steel haveattracted major buying interest.

Exit option for MTC shareholders: The shareholders of Malabar Trading Company (MTC) are getting an exit opportunity. Although the open offer price is at par, the shareholders can get rid of this dud stock. The company had come out with a public issue in 1996 and after its listing, the investors were desperate for an exit opportunity. The share was last traded on October 18, 1996 and since then, the counter has been wearing a deserted look. Janmejay R Vyas, Devhooti J Vyas, Rajnikant T Vyas and Dishman Pharmaceuticals & Chemicals are offering to pick up 20 per cent from public shareholders.

Flexibonds to open on Sept 21: Term-lending institution Industrial Development Bank of India (IDBI) will hit the capital market on September 21 with its fourth series of flexibonds to raise Rs 1500 crore. The average annual yield of the four instruments on offer is pegged at 14 per cent. The core size of the issue -- first public issue to be launched by IDBI in fiscal 1999-- is Rs 750 crore. This is also the first tranche of the `umbrella issue' of Rs 5000 crore for which IDBI had received the Sebi clearance early this year.

Analysis of equity funds: In three months ended September 1, 1998, the BSE Sensex has shed 21.42 per cent. In the same period, the average fall in the growth funds has been 14.94 per cent. Four out of the five top performers have followed a growth strategy with aggressive exposure to hot sectors to make up their numbers. But the numero uno is a big surprise - UTI's Index Equity Fund. On the contrary, the laggards are also passively managed funds from UTI's stable. JM Basic Fund, a petrochemical sector fund has been the biggest loser.

Sebi exempts Vadilal: Sebi has exempted the promoters of Vadilal Dairy International Ltd from making an open offer with regards to the preferential allotment of shares to the promoters of the company. The preferential allotment of shares is in lieu of share warrants, as a result of which theshareholding of a few of the promoters would increase to five per cent or more of the post issued capital. The resolution for preferential allotment to the promoters was passed by the general body of the company in its meeting on September 27, 1996.

Fresh FI selling on NSE: Pivotals reacted moderately on the National Stock Exchange on fresh selling by financial institutions and closed with small losses. FIs sold shares worth Rs 14.44 crore and bought stocks worth Rs 6.04 crore. The S&P Cnx Nifty opened at 907.10 and closed at 899.70, showing a fall of 7.70 from the previous close of 907.40. The Cnx Nifty Junior declined by 24.35 to 1463.40 from the last close of 1487.75. THe S&P Cnx Defty fell by 6.80 to 733.50 from 740.30.

Bearish sentiment on DSE: Stock prices declined to close with fresh losses on the Delhi Stock Exchange on a fresh spell of selling. Reflecting the downward trend, the Delhi Stock Exchange sensitive index ended 6.76 points, or nearly 1 per cent, to 691.12 points. Stockbrokers said foreign funds, mainly US-based ones were seen off-loading their positions. End of settlement on the market forced operators to square-off their positions, which also attributed to drop in stock prices.

Prices decline on CSE: The global decline in equity values and selling pressure from domestic investors pulled down stock prices on Lyons Range on the first day of the new settlement today. With lack of buying support, the CSE 40-share index closed marginally lower at 1713.75 points, which was also the day's high while the lowest was at 1694.29 points. The turnover was normal and undertone steady. Tata Tea and Reckitt were the gainers on hectic buying support and finally closed at Rs 288.90 and Rs 341.00, respectively.

Trades worth Rs 300cr on NSE WDM: The Wholesale Debt Market of the National Stock Exchange witnessed trades worth Rs 300.72 crore. The 11.55 per cent government loan maturing in 2001 was traded for Rs 40 crore at a weighted yield of 11.55 per cent. The 12.30 percent government loan maturing in 1998 was traded for Rs 40 crore at a weighted yield of 10.45 per cent. Commercial paper of TELCO maturing on October 20 was traded for Rs 5 crore at an yield of 10.75 per cent. Two repo trades worth Rs 20 crore were transacted at repo rates of 9.75 per cent for 14 days. The total traded value during the week was at Rs 1393.24 crore.

Asian markets plummet: Asia-Pacific stock markets fell, catching Wall Street's jitters over the threat of impeachment hanging over US President Bill Clinton in a White House sex scandal. Tokyo led the sell-off in the region with a 5.1 per cent dive, including the largest points fall so far this year. Hong Kong slid 3.5 per cent, Singapore dipped 1.4 per cent, Kuala Lumpur tumbled 3.1 per cent and Sydney plunged 2.3 per cent. Seoul fell 5.4 per cent, Bangkok dropped 2.8 per cent, Jakarta ended 1 per cent lower and Manila slipped 1.6 per cent.

Euro stocks fall: European bourses fell, but held back from the abyssas other globalmarkets plunged on fears about the survival of US President linton and the growing economic crises in Asia and Latin America. London fell by two per cent, but losses in Frankfurt, Paris and Amsterdam were modest despite a wave of selling around the world overnight which sent Wall Street tumbling 3.17 per cent. Madrid stocks had the roughest ride and fell by over 5 per cent.