Satyam Computers has intimated the NSE about its book closure on Tuesday and the stock will be traded in the no-delivery from October 28. This has already led to a sharp rally at the kerb. However, investors could be trapped due to the failure of the company to intimate the same without prior notice to the NSE where it is traded on the permitted segment and the company has not informed the BSE.

Telco nosedives on kerb:

The announcement of Telco's disastrous results led to a sharp fall in its stock price at the kerb. While at the official market, the stock closed at Rs 114.80 after touching an intra-day's high of Rs 117.70, it dipped by over 2 per cent to trade at Rs 110/111.50 at 7 pm. While market expected the company to break even its past performance, announcement of a further loss of over Rs 18 crore for the second quarter led to a disappointed market environment. According to market sources, this could lead to a further erosion in the valueof its stock, which had bounced back above Rs 110 levels purely on account of the buy-back announcement.

MMS 1990 outperforms Sensex by 24%:

Restructuring and consolidation of portfolio is beginning to pay dividends for Magnum Multiplier Scheme, 1990. Launched as a closed-end fund on January 1, 1991, the scheme went open-end on December 31, 1997. The scheme continues to outpeform its benchmark, the BSE Sensex. While the Sensex has fallen by 21.02 per cent in nearly 10 months between December 31, 1997 and October 14, 1998, the net asset value of the fund has risen by 3.21 per cent during the same period. The fund has thus outperformed the sensex by 24.23 per cent. During the last one month, the scheme has outperformed its benchmark by 9.56 per cent.

Assocham for setting up of Company Law Tribunals :

The Associated Chambers of Commerce and Industry of India (Assocham) has hailed the Union cabinet's approval to a proposal for allowing companies to buy back their shares from the capitalmarket. The chamber, however, mooted a proposal for setting up of `Company Law Tribunals' (CLT) and introduction of `Stock Option Schemes' (SOS).

IFCI, HCL Info and others pay depository charge:

The Industrial Finance Corporation of India (IFCI), UTI Bank, HCL Infosystems and Onward Technologies have made on time payment to the National Securities Depository Ltd (NSDL) in lieu of which the depository will not charge any investor of these four companies a custody charge for holding their shares in demat form. This has taken the total number of companies offering such a service to their shareholders to 39.

BSE imposes special margins on two scrips:

The Bombay Stock Exchange has decided to impose additional volatility margin on the following stocks for October 27 : Balaji Hotels And Enterprises (20 per cent purchase margin) and Hoechst Marian Roussel (sale margin of 5 per cent).

Pivotals react on profit selling at NSE:

After a positive start pivotals reacted towards the fagend on the National Stock Exchange (NSE) on Tuesday on emergence of heavy profit selling. The S&P Cnx Nifty index eased by 3.65 to close at 841.60 from the previous close of 845.25. Cnx Nifty Junior reacted to 1455.95 from the last close of 1476.80. S&P Cnx Defty softened by 2.90 to 690.115 from Monday's close of 693.05. S&P Cnx 500 ended moderately lower at 584.08 from the last close of 585.95 and Cnx Midcap 200 showed a fall of 4.35 at 521.51 from the previous close of 525.86.

Profit-booking pares most of previous gains at DSE:

Profit booking pared most of the gains recorded on Monday and only a few stocks continued with their upward march on persistent buying. Marketmen said share values moved both-way on alternate bouts of buying and selling before winding up with small but notable either-side adjustments. The DSE benchmark sensitive index after moving in the range of 645 and 655 points, finished at 654.09 points against previous day close of 651.28 points.

MSE stocks decline marginally:

There was a slight decline in values of scrips on the Madras Stock Exchange on Tuesday following selling pressure, resulting in small to moderate losses or gains. The MSE share price index, after declining to 3232.01, improved to 3249.66 as against the previous day's close of 3250.68, losing 1.02 points.

Rupee rules rock-steady against dollar :

The rupee ruled rock-steady against the US Dollar, maintaining its overnight firm stance on bullish sentiment in an otherwise quiet range-bound trade at the interbank foreign exchange (forex) market. Opening around Rs.42.26/27 per dollar, the rupee later edged up and closed at Rs.42.25/26 unchanged from monday's finish in the absence of corporate dollar demand. Rupee-dollar outright spot dealings were extremely dull, uneventful and confined to a tight band with most participants sidelined and reluctant to take fresh positions due to lack of market-moving factors, dealers said. Corporate dollar buying interest has also been subdued for past few weekswhich has also contributed to the stagnancy in the forex spot trade, they added.

Hong Kong shares rise 1.5 per cent to near six month high :

Hong Kong share prices rose 1.5 percent in pre-holidaytrade Tuesday to a near six-month high on selective bargain hunting amid hopes of further interest rate cuts, dealers said. The key Hang Seng index gained 148.14 points to close at 9,927.05, breaching the9,996.85 level it touched on May 5. The value of turnover amounted to 6.026 billion Hong Kong dollars (779 million US), Against the previous day's 5.25 billion dollars.

Singapore stocks end 3.6 per cent higher :

Singapore share prices ended 3.6 percent higher Tuesday on increasing prospects for further cuts in interest rates, dealers said. The benchmark Straits Times Industrials index rose 40.10 points to 1,153.60.

Malaysian share prices close slightly lower :

Malaysian share prices closed lower Tuesday in lacklustre and directionless trade, dealers said. The Kuala Lumpur StockExchange's 100-share composite index fell 3.15 points to end at 415.96 while the lesser second board slipped 1.75 points or 1.7 per cent to 9 9.74.

Tokyo stocks close 0.2 per cent lower :

Tokyo stocks closed 0.2 percent lower Tuesday on profit-taking, brokers said. The 225-issue Nikkei average on the Tokyo Stock Exchange fell 22.78 points to finish at 13,820.68.New Zealand stocks up 1.5%: New Zealand stocks were up 1.5 per cent on Tuesday after a long weekend break. The NZSE-40 was up 26.92 to 1870.37 points on turnover of 82.2 million NZ dollars ($ 43.4 million) with Telecom Corp up eight cents to 4.98 dollars.