Financial Daily from THE HINDU group of publications
Friday, September 06, 2002
Markets (Sept. 5)
BL 2501096.66 (+1.33)
BSE Sensex3181.47 (+8.12)
S&P CNX Nifty1008.60 (+1.65)
Dollar (Buy/Sell)48.44/48.57
Gold Std (10 gm)5200 (+40)

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MARKETS

MUTUAL FUNDS


No deduction of tax on US-64 dividend
UTI-I will not deduct tax at source (TDS) on dividends passed on to unit-holders of US-64. The dividend income of these investors will be exempt from TDS, following the Finance Ministry's decision to allow UTI-I to be a `pass through' for ... More

DSP-ML mops up Rs 340 cr through short-term fund
DSP Merrill Lynch investment managers have announced that its short-term fund has mobilised over Rs 340 crore during the initial public offer (IPO), open from August 30 to September 4. The scheme is positioned between a liquidity fund and an ... More

TECHNICAL ANALYSIS


Bulls prevail
BULLS were in control of Thursday's trading activity. Their dominance resulted in reducing the bear count by a substantial margin. The market sentiment reading of the tradable counters stands bullish. Bear domination on Friday is likely to ... More

STOCK EXCHANGES


Kania report fallout — CSE staff urge SEBI to allow NSE hubs
A section on Lyons Range still maintains that RSEs have not lost their relevance, not even in the context of computerised trading More

STOCK MARKETS


Steel stocks Jindal, Essar edge up on block deals
Jindal Steel and Essar Steel today saw a spurt in volumes and prices thanks to some block deals. The Jindal Steel stock attracted combined traded volumes of around 4 lakh shares on the National Stock Exchange and the Bombay Stock ... More

Nestle at new high on parent buying
NESTLE India touched a new 52-week high on Thursday on active buying from the Swiss parent — Nestle SA. Trading volumes in the counter increased sharply. The stock touched 52-week high at Rs 575 before closing at Rs 571.20, up 2.02 per cent ... More

Hexaware surges on German order
HEXAWARE Technologies witnessed increased activity today, with a large amount of the company's shares being traded on the bourses on the back of a strong order book. On the Bombay Stock Exchange (BSE), the stock closed at Rs 75.76, falling 1.9 ... More

An identity confusion
IT seemed to be a case of mistaken identity as investors flocked the counter of Berger Paints India Ltd following an announcement by Asian Paints that it was acquiring Berger International Ltd. At the start of the trading day, the stock of ... More

DERIVATIVES MARKETS


No trading in Nifty futures on Singapore Exchange
EVEN as the trading volumes in the S&P CNX Nifty futures are increasing on a monthly basis on the NSE, there is hardly any trading in the Nifty index futures on the Singapore Exchange for more than a year now. The NSE and the SGX had entered ... More

Reliance Sept 260 puts: Risky but profitable?
THE following are some buy/sell strategies based on Thursday's trading in the derivatives segment at the NSE: Equity options Reliance Industries: The outlook on this stock appears negative. The immediate price projection on the ... More

REGULATORY BODIES & RULINGS


SEBI panel for T+1 from Dec 2 for institutions
IN a bid to move towards T+1 settlement soon, the SEBI committee on Straight Through Processing (STP) has proposed the implementation of STP for institutional investors from December 2. The committee has also advised that the market ... More

SAT dismisses petition in Amara Raja case
THE Securities Appellate Tribunal (SAT) has dismissed a petition of Mr Harinarayan Bajaj seeking information possessed by Securities and Exchange Board of India (SEBI) in a case relating to alleged price manipulation in the Amara Raja Batteries ... More

COMMENTARY


Infosys gain keeps markets in positive territory
THE market closed with the benchmark index, the BSE Sensex at 3,181.47 on Thursday, representing a gain of 8.12 points, even as key index stocks such as Reliance, Reliance Petro and MTNL, all of which were responsible for holding up ... More

IPOS


Applications worth Rs 1,458 cr for Union Bank IPO
UNION Bank of India's maiden public issue has been oversubscribed five times, sources in the banking industry said. The bank had come out with an IPO for Rs 288 crore, of which Rs 28 crore was reserved for the employees. Net offer to the public ... More
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