Financial Daily from THE HINDU group of publications
Thursday, October 24, 2002
Markets (Oct. 23)
BL 2501023.44 (-4.57)
BSE Sensex2948.96 (-17.01)
S&P CNX Nifty957.35 (-5.15)
Dollar (Buy/Sell)48.35/48.48
Gold Std (10 gm)5160 (+20)

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MARKETS

OPEN OFFERS


Clariant told to make open offer for Colour-Chem stake
THE Securities and Exchange Board of India (SEBI) has directed Swiss multinational Clariant International (acquirer) to make an open offer for 20 per cent stake to the shareholders of Colour-Chem. THE SEBI Chairman, Mr G.N. Bajpai, in an order ... More

TECHNICAL ANALYSIS


Bear domination
BEARS were in control of Wednesday's trading activity. Bulls were unable to make any recovery during the day's trading. The market sentiment reading of the tradable counters stands strongly bearish. Bull domination on Thursday is likely to reduce ... More

STOCK EXCHANGES


NSE warns members on client code
IT'S more than a year since the Securities and Exchange Board of India (SEBI) had made single client code for investors mandatory; several stockbrokers are still using multiple client codes. The stock exchanges have taken note of their ... More

STOCK MARKETS


In expectations of open offer — Nimesh Shah, others hold on to Ondeo Nalco stake
THE stock of Ondeo Nalco India (formerly Nalco Chemicals India Ltd) has of late turned almost illiquid. Trading volumes of the stock have dwindled on the Bombay Stock Exchange to just 100 on Wednesday from the two-month daily average quantity of ... More

Arab investors keen on Indian bourses
HIGH net worth investors in the Gulf have evinced a lot of interest in the Indian stock markets. According to Sheikh Sultan bin Saud Al Qasimi, Chairman of Barjeel Securities LLC, the joint venture between Al Saud Investments of the UAE and ... More

Block deals in Indal
INDIAN Aluminium (Indal) witnessed huge block deals on the Bombay Stock Exchange (BSE) on Wednesday. Dealers said that most of the shares were bought by the Aditya Birla Group company, Hindalco. They added that Hindalco had been mopping up the ... More

DERIVATIVES MARKETS


Portfolio managers allowed to invest in derivatives
Among the derivative instruments, stock futures account for 60 per cent of the total turnover of the derivatives segment in the Indian stock exchanges. The capital market regulator, SEBI, is amending its regulations on portfolio managers. More

Buy November 240 puts on Reliance Industries
THE following are some buy/sell strategies based on Wednesday's trading in the derivatives segment at the NSE: Equity options Reliance Industries: The outlook on the stock appears negative. The price projection on the downside ... More

COMMENTARY


Hind Lever, Reliance drag index further down
THE domestic market sentiment remained subdued during Wednesday's trading. The lack of positive market triggers coupled with a weak trend in market heavyweight Hindustan Lever pulled down the key market indices. The Sensex recorded a 17.01-point ... More

ECONOMIC OFFENCES


13 companies in dock over stock scam
THE Government has cracked the whip on 13 companies, including those controlled by Mr Shankar Sharma, stock broker, Mr Nirmal Bang and the former President of the BSE, Mr Anand Rathi, all facing charges of stock market manipulation dating to ... More
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