Financial Daily from THE HINDU group of publications
Tuesday, October 08, 2002
Markets (Oct. 7)
BL 2501020.28 (+14.89)
BSE Sensex2952.78 (+22.27)
S&P CNX Nifty954.75 (+6.55)
Dollar (Buy/Sell)48.32/48.45
Gold Std (10 gm)5290 (+10)

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MARKETS

BUYBACK


Cummins arm to tender shares of Newage Elec
CUMMINS Diesel Sales & Service (India) Ltd (CDSS), a subsidiary of Cummins India Ltd (CIL), has decided to participate in the share buyback offer of Newage Electrical India Ltd. The company will offer 2.4 lakh equity shares of Rs 10 each ... More

MUTUAL FUNDS


Funds bullish on pharma sector: DSP ML survey
In terms of sectoral profitability, fund managers have become increasingly optimistic over earnings prospects of IT sector. According to DSP, this in line with its outlook for the sector where despite susceptibility to the weakness in Nasdaq, there i s substantial order inflow and the valuations are at historic lows. More

`Divestment dithering hits equity funds' — Gilt, debt funds stretch mean tenor
The return given by liquid funds, however, had been declining, Crisil said. Liquid funds have been witnessing falling returns on the one-year time period in the past and this trend has continued for the month. The average return of 17 liquid funds wa s 7.19 per cent as at end of August 2002. More

Draft prospectus filed for US-02
Even though US-02 is positioned as a balanced fund with investment objectives clearly detailed, due to the complexity in splitting the assets in US-64, the fund initially may not strictly adhere to the objectives. More

TECHNICAL ANALYSIS


Bull domination
BULLS dominated the Monday's trading activity. Bears were unable to gain any control over the day's trading activity. Monday's market action resulted in mild bullish sentiment reading. The sentiment reading of the tradable counters, however, is ... More

STOCK EXCHANGES


BSE is full member of global body
THE Bombay Stock Exchange (BSE) has become full member of World Federation of Exchanges (WFE). The membership provides a forum for communication, analysis and debate among members. The BSE said in a statement today that it was a great ... More

`The bell may toll soon for BSE, NSE'
THE two premier stock exchanges in the country — BSE and NSE — which have nearly gobbled up most of the regional bourses in the country, may face a similar threat if the domestic blue chip companies opt to de-list in favour of ... More

STOCK MARKETS


PSU stocks zoom on PM's backing
PSU stocks rose sharply today following the Prime Minister, Mr Atal Bihari Vajpayee's statement on Saturday supporting the ongoing economic reforms, reviving hopes that the stalled privatisation will now move forward. The spurt in PSU stocks, ... More

Price hike hopes lift cement cos
STOCKS of cement companies were in the limelight on Monday in anticipation of an upward revision in cement prices soon. Market sources said the prices are expected to be hiked in the northern India by 20-25 per cent while in the western India, ... More

DERIVATIVES MARKETS


Construct long straddle on Reliance, Hind Lever
THE following are some buy/sell strategies based on Monday's trading in the derivatives segment at the NSE: Equity options Satyam: The immediate outlook on this stock appears negative. The price projection on the downside is Rs ... More

REGULATORY BODIES & RULINGS


Securities of IDRs must be listed on foreign bourse
OVERSEAS companies proposing to issue Indian depository receipts (IDRs) will have to ensure that the securities or the underlying shares would have to be listed on an international stock exchange first. This provision has been stipulated in ... More

COMMENTARY


PSU stocks rally; tech majors suffer setback
PSU stocks played a pivotal role in ensuring that the benchmark BSE Sensex ended the day with a gain of 22.27 points to close at 2952.78 points, in what was otherwise a day of range-bound trading on the bourses. The Nifty registered an increase ... More
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