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Sunday, September 20, 1998

Stock Update Forex Update

Global markets rally props up Skindia Index
The recent rally in the global markets had a positive impact on the GDR markets, which saw the Skindia GDR Index march up 4.15% to close at 651.17 points. As the GDR markets moved ahead of the domestic markets, the average premiums climbed to 28.9% from 26.7%, with the Skindia GDR Index closing at 15.68%.

Sesame oil spurts on millers' demand
Sesame oil at the Delhi market recorded a sharp spurt of Rs 120 at Rs 5070 a quintal on good demand from vanaspati millers coupled with fall in production due to unfavourable weather conditions in the Western India.

Carryforward rates shoot up to 21% on BSE
Carryforward rates on the Bombay Stock Exchange (BSE) shot up to touch a high of 21% annualised (weighted average) for a net purchase carryforward position valued at Rs 734.96 crore. The rising volumes on the exchange coupled with the increase in the demand for vyaj badla funds has contributed significantly to the sharp rise in badla rates.


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