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Monday, August 23, 1999

Forex Update

Stocks to consolidate gains this week -- Analysts
Indian shares are likely to consolidate recent gains this week despite some foreign fund selling as retail investors again buy up second-tier stocks, analysts said.

Fall in prices fail to enthuse gold investors
The bullion market in the eastern hub of the country is in the doldrums and despite the recent price crash in the international markets and the ensuing festivals the gold market is unlikely to witness any major activity.

Ahmedabad commodity exchange witnesses good trend in futures trading
With the fear of a severe draught looming large over the state, the bulls went on the rampage in the castor markets.


Corporate Results


  Structural problems plague money markets
  Hold on to Foseco India, book partial profits in Nalco Chemicals
  `Pharmaceutical, infotech stocks to perform better'
  Tier-II refinance may get repaid this week
  Firms seeking foreign float must offer 25% locally -- SEBI
  FMC permits reopening of Hessian Exchange
  Need to deregulate specific delivery forward contracts in commodities
  Reopening of Canadian mine to decide copper prospects
  `Drop in LME copper prices has hit us hard'
  Commodity Briefing
  Pepper bourse to hike trade guarantee corpus
  Maharashtra cotton growers keen on futures trading to avoid



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