Sunday, October 11, 1998
Skindia Index slumps to 527 points on panic sales over US-64 fears
A complete shakeout of investor confidence was witnessed both on the local and the GDR markets last week. The US-64 fear continued to be mirrored in panic sales by investors at even lower levels. The Skindia GDR index fell by 17.46 per cent to close at 527.19 points on October 8.
Rolling settlement can make an entry by June '99: Bhave
Rolling settlement on the Indian stock exchanges can be introduced as soon as June, 1999, National Securities Depository Ltd's (NSDL) managing director CB Bhave said on Saturday. "It would not take Sebi very long to move the entire index stocks to the compulsory demat trading list as Sebi realises the complete impact after January 4, 1999", Bhave said.
Carryforward rates slip to 12%
The US-64 panic took a toll on the sentiments at the local bourses with investors resorting to panic sales at the UTI counters of the Bombay Stock Exchange (BSE). The badla session on the BSE saw three of the UTI scheme units attract backwardation on the bourse, indicative of huge selling in the absence of delivery.
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