Financial Daily from THE HINDU group of publications
Wednesday, September 25, 2002
Markets (Sept. 24)
BL 2501030.67 (-3.68)
BSE Sensex3022.25 (+0.97)
S&P CNX Nifty966.20 (-4.10)
Dollar (Buy/Sell)48.37/48.49
Gold Std (10 gm)5300 (+10)

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FINANCIAL SERVICES


Barjeel to include American equities among services — Tie-up with broking unit soon
BARJEEL Securities LLC, a joint venture between the Kochi-based Geojit Securities Ltd and the UAE-based Al Saud Group is all set to offer American equities as part of its broking services to the NRI investor population in that region. Speaking ... More

COURTS/LEGAL ISSUES


HC decree of Rs 5.82 cr on ex-CSE director
Mr JUSTICE G.C. Gupta of the Calcutta High Court has passed a decree for payment of Rs 5.82 crore, being the principal amount, with interest at the rate of 9 per cent from March 8, 2001 till the date of payment against Mr D.K. Singhania, a ... More

TECHNICAL ANALYSIS


Bears prevail
BEARS controlled major part of Tuesday's trading activity. However, during the wee hours of the day's trading bulls managed to recoup most of their losses. The sentiment reading of the tradable counters stands strongly bearish. Bull domination on ... More

STOCK EXCHANGES


Cochin SE seeks to sell prime land
THE Cochin Stock Exchange has convened an Extraordinary General Meeting at the exchange premises on Wednesday to seek the consent of the members for the sale of 55 cents of prime land at the Kochi Marine Drive for a consideration of around Rs 11 ... More

STOCK MARKETS


Lack of positive triggers drives down M&M
THE Mahindra and Mahindra stock today closed at its two-month low on both the major stock exchanges. The stock closed at Rs 81.25 on the National Stock Exchange, down 1.75 per cent from the previous closing of Rs 82.75. On the Bombay Stock ... More

Quiet debut for Union Bank
UNION Bank of India closed its first day of trading at Rs 16.30, just above the issue price of Rs 16, on the Bombay Stock Exchange (BSE). Opening at Rs 17.50, the stock touched a low of Rs 16.15 before closing at Rs 16.30. Total number of shares ... More

Citigroup buys into e-Serve?
E-SERVE International witnessed a number of block deals on the BSE on Tuesday. The stock attracted volumes of 5.35 lakh shares on the exchange, while just 29,347 shares were traded on the NSE. Trading volumes on the NSE were, however, higher from ... More

Aptech Training volatile on first day
APTECH Training Ltd, the IT training company that was demerged from erstwhile Aptech Ltd, got listed on the Bombay Stock Exchange (BSE) today. On the first day of trading, the company's stock closed at Rs 31.45 on the exchange after touching ... More

Markets edgy over sharp fall in global indices
THE Indian stock markets were edgy today following the sharp fall in global stock markets and selling by foreign funds. However, the BSE Sensex closed just one point higher at 3022.25 and on the NSE, the S&P CNX Nifty closed four points down at ... More

Special margin on Orient Tradelink
MUMBAI: The Bombay Stock Exchange has imposed a special margin of 25 per cent has on Orient Tradelink Ltd from Tuesday. Special margin would be imposed on the basis of member-wise gross outstanding purchase or sale position (client-wise ... More

DERIVATIVES MARKETS


Negative outlook on ACC
THE following are some buy/sell strategies based on Tuesday's trading in the derivatives segment at the NSE: Equity options ACC: The outlook on the stock appears negative. The price projection on the downside is Rs 119, while ... More

REGULATORY BODIES & RULINGS


SEBI cancels First Global registration
THE Securities and Exchange Board of India (SEBI) has finally cancelled Shankar Sharma's First Global Stock Broking (FGSB) registration as stockbrokers and portfolio managers for manipulation of stock price in February and March 2001. The board ... More

COMMENTARY


Late buying in HLL cushions sharp fall in tech stocks
THE stock market continued to exhibited lacklustre trend for the second successive day on Tuesday as frontline software stocks witnessed a slide on the bourses. The overnight decline in the Nasdaq Composite Index following profit warnings by a ... More
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