Financial Daily from THE HINDU group of publications
Wednesday, July 24, 2002
Markets (July 23)
BL 2501112.43 (+14.57)
BSE Sensex3176.93 (+23.59)
S&P CNX Nifty1021.90 (+9.90)
Dollar (Buy/Sell)48.64/48.77
Gold Std (10 gm)5280 (-30)

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MUTUAL FUNDS


Set UTI free from trustees: JPC
THE Joint Parliamentary Committee (JPC) probing into the 2001 securities scam has recommended that the trustees of the Unit Trust of India (UTI) such as the IDBI, SBI, LIC and other public financial institutions should be divested of control and ... More

Sun F&C buys out JF Mutuals' two schemes
SUN F&C Mutual Fund today acquired two schemes of JF Mutual Fund — the JF India Bond Fund and JF Personal Tax Saver — which currently manage a corpus of over Rs 150 crore. Mr Nikhil N. Khattau, Chief Executive Officer, Sun F&C ... More

UTI revives `variable investment' plan
UNIT Trust of India has revived its plan to introduce an innovative fund based partly on the BSE Sensex. Its proposal to launch UTI Variable Investment Scheme has again come up for consideration by SEBI. The draft offer document before the ... More

UTI chief's term to be extended
THE Government has cleared a proposal to extend the term of the Chairman of the Unit Trust of India, Mr M. Damodaran, by one year, according to officials here. The extension of term for Mr Damodaran would be for either one year or until further ... More

TECHNICAL ANALYSIS


Bulls recover
BEARS failed to extend their pressure over Tuesday's trading activity. Bulls took over and were successful in reducing the bear count by a considerable margin. The market sentiment reading of the tradable counters stands neutral. Bull domination ... More

STOCK MARKETS


Steady downtrend in Kesoram Ind
THE Kesoram Industries stock today saw significant volumes on the major bourses on a declining price trend. It lost over 8 per cent at close and finished at Rs 28.55, but the combined traded quantity of the counter on the Bombay Stock Exchange ... More

Heavy trading in HDFC Bank
A large number of shares was traded on Tuesday in an otherwise quiet HDFC Bank counter. A block deal of over 84 lakh shares were traded in the counter on the BSE. Market sources said that J.P. Morgan & Chase had sold the chunk of shares to ... More

JPC for action on SHCIL officials involved in DSQ deal
THE Joint Parliamentary Committee (JPC) has sought action against all senior officials of SHCIL including its Managing Director involved in the purchase of 13.3 lakh shares of DSQ Software by the Unit Trust of India (UTI). The off market deal ... More

Laws complied with on ALBM, says Reliance
RELIANCE Industries Ltd today said that all its automatic lending and borrowing mechanism (ALBM) transactions have been conducted in full compliance of all applicable laws, rules and regulations and that the Joint Parliamentary Committee has not ... More

DERIVATIVES MARKETS


Buy Infy puts on stock price uptick
THE following are some buy/sell strategies based on Tuesday's trading in the derivatives segment at the NSE: Equity options: The immediate outlook on Infosys appears positive, but the upside from the current levels is limited. If you can ... More

REGULATORY BODIES & RULINGS


JPC favours more teeth to SEBI — Pulls up watchdog for poor track record
THE Joint Parliamentary Committee probing the 2001 stock scam has suggested a 19-point agenda to give SEBI more teeth in investigation and enforcement, even though it felt that the market watchdog had a poor track record of punishing wrong-doers ... More

SEBI cautions FIIs on leakage of trading data
THE Securities and Exchange Board India (SEBI) has cautioned foreign institutional investors (FIIs) against the leakage of their trade data in the stock market. The market regulator has told the FIIs to avoid such leakages in the future. ... More

COMMENTARY


Vesuvius vaults along with mid cap stocks
TAKING a cue from other Asian markets, stock prices in India too moved higher on Tuesday. Stocks had received a battering on Monday and had closed lower on the last day of the previous week as well. On the BSE, the Sensex closed with a 0.75 per ... More
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