The Securities and Exchange Board of India (Sebi) chairman D R Mehta has said that regional stock exchanges should come out with their survival strategies in the face of stiff competition and growing reach of National and Bombay Stock Exchanges across the country. Addressing the managing committee of PHD Chambers of Commerce and Industry, Mehta said that four stock exchanges were allowed to start their trade guarantee funds with whatever amount they could manage.

Uptrend may not be sustained: DBS

The uptrend in the Indian economy witnessed in the beginning of current fiscal would not be maintained due to escalation of tension with Pakistan and fall of the Vajpayee government, DBS Securities, part of Development Bank of Singapore has said. ``Politics has continued to wreak havoc on economics. With the fall of government in April, we are going through the longest tenure for a care-taker government leaving the economic policy-making process in astate of limbo for as many as six months,'' the broking arm of Development Bank of Singapore said in its quarterly `India Economic Outlook'.

Trading software developed

Strategic Corporate Services, a Mumbai-based company which monitors and reports stock price behaviour, has developed and launched a mechanical trading software package. According to Deepak Sahijwala, chief executive, SCS, the software package, the software named `Startstar' is the first mechanical trading software available in India. However, the company is mainly looking at overseas clientele for marketing its products.

Skindia GDR index up 1.26 per cent

The Skindia GDR Index, representing GDRs of 17 actively trading companies increased by 1.26 per cent from 864.87 to 875.80 on August 18, 1999 as per the Skindia GDR Index with a base January 3, 1995 equal to 1000. The Skindia GDR index P/E ratio was 29.30 as compared to 28.52 on August 17, Skindia Finance, a Mumbai-based broking and research house specialising in IndianGDRs quoted in a press release. Rs 872.51 cr trading at NSE WDMThe Wholesale Debt Market (WDM) ofthe National Stock Exchange (NSE) on Thursday witnessed 134 trades worth Rs 872.51 crore. The 12.32 per cent government security maturing in 2011 was traded for Rs 155 crore at a weighted yield of 11.72 per cent. The 11.99 per cent government security maturing in 2009 was traded for Rs 105 crores at a weighted yield of 11.51 per cent. The 12.29 per cent government security maturing in 2010 was traded for Rs 70 crore at a weighted yield of 11.61 per cent.

A clarification

A report published in The Financial Express dated August 19 on UTI Guernsey being renamed as UTI International was inadvertently reported as "UTI International renamed as UTI Guernsey." The error is regretted.