Economic recovery can take Sensex to 3,600 points by March next year
The reaction set in the market taking Sensex down to 2976, losing 29 points over the previous close of 3005. The daily stochastic indicator has cut downwards through its trigger line, signalling a sell.

Unit Trust to file plea for compensation from Lever
The Unit Trust of India (UTI) has decided to file a petition before the Mumbai high court seeking compensation from Hindustan Lever (HLL) in the insider trading case. Sebi had directed HLL to pay a compensation of Rs 3.04 crore to UTI for the notional loss suffered by it.

GIC MF to launch four schemes; targets Rs 500 cr
GIC Asset Management Company has come out of two-and-a-half years of hibernation and plans to launch four different schemes before the close of the financial year 1998-99. The AMC aims at mobilising close to Rs 500 crore through these schemes. The current corpus of the mutual fund is at Rs 800 crore.

  OfficeMax Q3 meets scaled-back forecasts
  European car market set for 3-year decline
  Japanese traders wary about Cargill deal
  Market Round-Up
  Castorseed, oil dip on new crop arrivals; bullion up
  Interest income on recapitalisation bonds saves state-run banks' day
  Interest in UTI's MIP scheme wanes, collections may not exceed Rs 700 cr
  Grey areas in buyback norms
  Bank stocks move up on cross deals
  Kanthal AB to hike stake in subsidiary to 74% through loan conversion
  Comet scare unnerves market participants
  Bata India
  Brokers urge regulator to put more scrips in paperless mode
  Canbank MF schemes outperform Sensex
  Reduce threshold limit to 75% for buyback
  No takers for textile mill shares, says CSX
  MFs reap demat benefits