The Hindu Business Line : Friday, June 06, 2003

Bull onslaught
BULLS were in total command of Thursday's trading activity. Their dominance for the second successive trading day left the bears stranded. The market sentiment reading of the tradable counters remains bullish. Bear domination on Friday is likely ... More

STOCK EXCHANGES

SEBI asks SEs to amend Articles of subsidiaries
In a communiqué to the Managing Directors and Executive Directors of the regional stock exchanges, SEBI officials said no other client or sub-broker, other than the member of the parent stock exchange, should be entertained by the subsidiary company. More

STOCK MARKETS

Fund fancy in Union Bank
A LARGE mutual fund is understood to be quietly accumulating the public sector bank's shares. According to dealers, the Union Bank counter has been seeing heavy buying for the past several days. More than 47 lakh shares of the bank ... More

FCCB conversion pushes HFCL equity capital up — EGM today for increase in authorised share capital
CLOSE on the heels of GDR holders of Himachal Futuristic Communication Ltd (HFCL) converting the holding into local shares, subscribers to the company's foreign currency convertible bonds (FCCB) too have started converting the bonds into equity ... More

PSL hits circuit breaker with single block deal
THE PSL Ltd (formerly PSL Holdings Ltd) stock today saw a single block deal involving over 23 lakh shares on the Bombay Stock Exchange. It hit the circuit breaker and closed with a traded volume of 24.35 lakh shares on the BSE. According to ... More

DERIVATIVES MARKETS

Outlook positive on SBI, buy June 360 calls
THE following strategies are based on Thursday's trading at the derivatives segment on the NSE: SBI: The outlook on this stock is positive. The upside price target is Rs 375. The risk is that the stock may decline to Rs 330. Consider ... More

REGULATORY BODIES & RULINGS

SEBI looking at book-building norms review
THE Securities and Exchange Board of India (SEBI) is looking at modifications to the existing book-building norms, which is being dubbed a "failure" by certain experts and participants in the capital market. The book-building norms in the ... More

COMMENTARY

Heavyweights back in lead; banks, PSUs down
RALLY in the index heavyweights dragged the benchmark indices higher to end the day in the positive territory. The BSE Sensex closed on Thursday at 3262.20 points, gaining 45.71 points. The broad S&P CNX Nifty gained 14 points and closed at ... More

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