Financial Daily from THE HINDU group of publications
Wednesday, October 02, 2002
Markets (Oct. 1)
BL 2501006.92 (-16.86)
BSE Sensex2959.66 (-31.70)
S&P CNX Nifty955.20 (-7.95)
Dollar (Buy/Sell)48.32/48.45
Gold Std (10 gm)5305 (+5)

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MARKETS

TECHNICAL ANALYSIS


Bears march ahead
BEARS exerted further pressure over Tuesday's trading activity. During the close, bulls managed to make a partial recovery. The sentiment reading of the tradable counters continues to remain strongly bearish. Bull domination on Thursday is likely ... More

GENERAL INSURANCE


Underwriting losses of PSU insurance cos surge — Gujarat riots, third-party claims blamed
GENERAL Insurance Corporation of India and its four associates had a combined underwriting losses of Rs 2,529 crore for the year 2001-02 as against Rs 1,722 crore in the previous year. The losses were mainly due to large number of claims on ... More

STOCK EXCHANGES


CSE for clarification on turnover fee
THE governing committee of the Calcutta Stock Exchange today decided to seek further clarification from the Securities and Exchange Board of India (SEBI) on the issue of turnover fee arrears to be paid up by the CSE brokers to the market ... More

SEBI ties up with States to probe misconduct in SEs
SEBI has already rolled out its maiden initiative in this direction, thanks to its recently developed rapport with the West Bengal Government, which was pursuing a case concerning the Calcutta Stock Exchange. More

CREDIT RATING


Corporate governance, bond ratings — SEBI keen to ensure convergence
THE Securities and Exchange Board of India (SEBI) would like to ensure that the rating assigned to a bond issue by a company converges with its corporate governance (CG) rating over the long term. In the short run, there could still be a ... More

STOCK MARKETS


VisualSoft up on upbeat guidance
THE stock price of software solutions provider, VisualSoft Technologies, gained on the bourses today. Market sources attribute the price rise to the claim that the company would be able to meet the growth guidance for its software solutions ... More

Mastek slides on fund selling
Mastek came under heavy selling pressure on Tuesday. Selling was mainly from private mutual funds that had taken huge exposure in the counter a couple of months ago. Dealers said some fund managers were booking profits. On Tuesday, the stock ... More

Naveen Patnaik sends Nalco tumbling further
NATIONAL Aluminium Company's (Nalco) stock price dipped sharply today on heavy selling from institutional investors on concern that the disinvestment of the company would be delayed, brokers said. The stock ended 5.51 per cent down at Rs 84.90 ... More

`Evidence' on Ketan's links with ex-CSE president
THE Kolkata Police have claimed to have found "incriminating" evidence by way of documents at one of the offices searched on Tuesday that have established links between big bull Ketan Parekh and former head of Calcutta Stock Exchange, Mr Dinesh ... More

DERIVATIVES MARKETS


BPCL: Short-term outlook positive
THE following are the some buy/sell strategies based on Tuesday's trading in the derivatives segment at the NSE: Equity options BPCL: The near-term outlook on this stock appears positive. The price projection on the upside is Rs ... More

INVESTOR GRIEVANCES


IGF seeks action against SHCIL
THE Investors' Grievances Forum on Monday said that it welcomes the Securities and Exchange Board of India's action in the Bank of Madura and ICICI Bank merger case. According to a release issued by the IGF, the forum has demanded that SEBI ... More

REGULATORY BODIES & RULINGS


SEBI ban on Suman Motels
MUMBAI: SEBI has prohibited Suman Motels Ltd from accessing the capital market, including raising funds, for a period of five years. According to a press release, the officials of Suman Motels are also prohibited from operating in the ... More

COMMENTARY


HLL, Reliance drag Sensex down; tech stocks mixed
THE depressed sentiment continued to haunt the bourses for the second day in succession as the BSE Sensex closed 31.70 points (or 1.06 per cent) lower at 2959.66 points. The decline was attributable mainly to the fall in the two key Sensex ... More
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