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FINANCIAL EXPRESS FRONT PAGE

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Tuesday, July 27, 1999

Forex Update

Market stays weak; Sensex dips 46.7 pts
The markets continued to exhibit weakness, even as positive FIIs inflows continued to be reported. The opening day of the new settlement on the Bombay Stock Exchange (BSE) commenced on a weak note, as operators and institutions continued to book profits at higher levels.

Short-sellers run for cover in Satyam Computer
Short selllers were caught heavily in the Satyam counter on Monday as they were rumoured to have sold at the Rs 1,100 level to re-enter again at lower levels but could not as the stock went up to touch the upper circuit.

Punters expect 1 to 1 bonus from Mastek
After an excellent showing in fiscal 1998-99, Mastek Ltd plans to reward its shareholders with a liberal bonus. The board of directors of the company is slated to meet on July 29 to consider a 1:1 bonus issue.



  Market Round-up
  Crisil unveils gilt, bond indices
  Indian Oil floats Rs 100-cr CP through book-building
  Groundnut oil spurts on tight supply; cotton ends lower
  Market Briefing
  Sentiment improves in Corporation Bank
  Shares on the move
  Alliance Capital plans gilt fund
  Patent to improve UPL's valuations
  Mico cheers investors by trebling net
  Escorts revs up in first quarter of FY 2000
  Asian bourses plunge on profit-taking
  Cyclical stocks turn attractive again



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