Interest in the Over The Counter Exchange of India (OTCEI) continued to look up as the exchange witnessed high volumes for the second consecutive month in August, 1999. The turnover for the month touched a new high of Rs 194.92 crore (one-side) surpassing July's high of Rs. 192.20 crore. More than 37 lakh shares of 87 companies (including 10 listed companies) were traded in August.

Ahmedabad SE member suspended

The Securities and Exchange Board of India has suspended a member of the Ahmedabad Stock Exchange for two months from September 3 for indulging in illegal carry-forward transactions. According to a Sebi statement, the member, Apurvaramanlal Shah of M/S Shah Ramanlal Gulabchand & Sons, will not be entitled to carry on the business as a stock broker till November 2 following his suspension under sub-regulation (3) of regulation 29 of Sebi (stock brokers and sub-brokers) regulations of 1992.

Sebi employees' Kargil contribution

Employees ofSecurities and Exchange Board of India have contributed one day's salary to the army central welfare fund (ACWF). A cheque of Rs 1.36 lakh was handed over to Brig TK Kaul, station commander, Mumbai sub-area, yesterday, Sebi said in a statement. Contributions to ACWF would be utilised for rehabilitation of injured army personnel as well as the families of soldiers killed in action in the Kargil conflict.

Skindia GDR index up 1.29 %

The Skindia GDR Index representing GDRs of 19 actively-traded companies increased by 1.29 per cent to 951.39 points from 939.31 points on August 31. Similarly, the Skindia GDR index P/E rates also rose by 1.89 per cent to 32.88 from 32.27 and the Skindia GDR index premium shot up by 7.90 per cent to 20.03 per cent from 18.56 per cent. There were 19 gainers, 13 losers and 31 unchanged as against the 27 gainers, 9 losers and 27 unchanged on August 27. The major gainers were GE shipping (15.46 per cent), EI hotels (14.29 per cent) and Indian Hotels (11.28 per cent) while thelosers were VSNL (5.19 per cent), Ashok Leyland (3.80 per cent) and Guj Ambuja (3.21 per cent).

Sharp rise in BSE card value

The Bombay Stock Exchange (BSE) card value has risen sharply with the governing board of the exchange accepting the bids of Rs 2,02,61,000 for sale of two defaulter members' cards last Friday. An earlier card was sold at a price of Rs 1,75,11,000 on August 12, showing a steep rise of Rs 27.50 lakh in just 15 days, a BSE release said. BSE to reduce exposure limitsThe Bombay Stock Exchange (BSE) has decided to reduce exposure limits and tighten additional carryforward margins from September 6, due to large outstanding positions and volatility, it said in a statement.

NSE completes 249th settlement

The National Stock Exchange has completed its 249th settlement. The total value of the settlement for securities was Rs 2377.41 crore and for funds Rs 438.47 crore. In the dematerialised mode, 522.83 lakh shares valued at Rs 935.36 crores were delivered. Value of sharesdelivered in compulsory dement scrips was Rs 727.50 crore.