Financial Daily from THE HINDU group of publications
Saturday, January 04, 2003
Markets (Jan. 03)
BL 2501133.30 (-2.86)
BSE Sensex3357.54 (-7.52)
S&P CNX Nifty1089.60 (-3.45)
Dollar (Buy/Sell)47.97/48.10
Gold Std (10 gm)5590 (+10)

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MARKETS

MUTUAL FUNDS


Flexi-asset allocation plan from HDFC Mutual
HDFC Mutual Fund has sought regulatory approval for a scheme that embraces the concept of `asset allocation' as its central theme. The proposed open-ended scheme will offer investors two plans — debt and equity. The first plan will seek ... More

TECHNICAL ANALYSIS


Marginal loss
BULLS were in control of the initial hours of Friday's trading. Later on, bears took over and wiped out their early losses. The market sentiment reading of the tradable counters stands bearish. Bull domination on Monday is likely to neutralise ... More

STOCK EXCHANGES


BSE plans free-float model for Sensex
MOVING in line with the international trend, the Bombay Stock Exchange (BSE) is set to shift to a free-float model for giving weightage to various companies in stock indices. As a result of this move, the BSE would revamp the country's most ... More

STOCK MARKETS


Dull equity markets add sheen to gold
GOLD appears to be back on the investors' list. The yellow metal has comfortably outperformed all major global equity indices. Consider this: a sum of Rs 1000 invested in the Sensex or the Nifty in January 2002 would now be worth about Rs 1040. ... More

Infosys gains on fund support
INFOSYS Technologies continued to be the pick of leading institutional investors on Friday. The active purchase by these investors is ahead of the company's third quarter results to be announced on January 10. Analysts expect the software ... More

Interest wanes in Centurion Bank
CENTURION Bank, which saw volumes and price increase on last Friday reportedly on buying by one of the domestic mutual funds with a banking licence, closed flat on lower volumes today. The stock closed at Rs 8.90 on the BSE, up from Thursday's ... More

DERIVATIVES MARKETS


M&M: Buy Jan 115 puts
THE following strategies are based on Friday's trading in the derivatives segment on the NSE: Equity options M&M: The outlook on this stock is negative. The downside price target is Rs 96. The risk is that the stock may move to ... More

REGULATORY BODIES & RULINGS


T+2 settlement from April — Will reduce risk, protect investors: SEBI
IN a move that would take the Indian stock trading system ahead of some of the developed equity markets, the Securities and Exchange Board of India (SEBI) has decided to further reduce the settlement cycle from T+3 to T+2 from April 1, ... More

Brokers told to pay 50% of turnover fee by March 31
THE Securities and Exchange Board of India (SEBI) has asked stockbrokers to pay 50 per cent of the turnover fee before March 31. In a circular issued to stock exchanges, SEBI said the facility for making 50 per cent of the turnover fee would ... More

Jaswant for strengthening regulatory mechanism
THE Finance Minister, Mr Jaswant Singh, today said that there was a need to redefine the role of not only the Government, but even that of the regulatory authorities, in the changing economic environment. "The freer the markets are, the ... More

Violation of guidelines — SEBI hearing of GTB promoters on Feb 3, 4
THE Securities and Exchange Board of India (SEBI), which recently suspended the promoters of Global Trust Bank (GTB) from market dealings in the equity shares held by them, has directed them to appear before it on February 3 and 4 for offering ... More

COMMENTARY


ITC, Infosys shine in lacklustre market
TRADING in a band of 35 point, the benchmark 30-share index, Sensex closed 0.22 per cent lower at 3357.54 points. The market breadth, as represented by the ratio of advances to declines indicated a bearish undercurrent. As many as 636 stocks ... More
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