Financial Daily from THE HINDU group of publications
Tuesday, December 20, 2005
Markets (December 19 - at 15.30 IST)
BSE Sensex9394.27.04(+109.81)
S&P CNX Nifty2842.60 (+32.45)
US Dollar (Buy/Sell)45.08/45.21 (latest)


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MARKETS

INSIGHT


New features of the stock market surge
With the BSE Sensex having settled above the 9000 mark, evidence of an unprecedented bull run on India's stock market is now incontrovertible. But similar trends in the past have been followed by an unwinding process triggered by news of market manip ulation or fraud. This time around, however, both the Government and the regulator, after initially expressing caution, appear sanguine. C. P. Chandrasekhar and Jayati Ghosh examine whether there still is need for caution. More

MUTUAL FUNDS


Fidelity unveils new tax fund
RESPONDING to the Government's announcement on December 13 on equity-linked savings schemes, Fidelity Fund Management has announced that its Fidelity Tax Advantage Fund will open on January 5, 2006. The company had received SEBI approval for ... More

Franklin India Smaller Companies Fund raises Rs 1,200 cr
FRANKLIN India Smaller Companies Fund has collected about Rs 1,200 crore during its new fund offer (NFO), which closed on December 14. The fund, a five-year close-end scheme that seeks to provide long-term capital appreciation by investing in ... More

STOCKS


Sensex up 109 points, closes at 9,394 — Retail investors told to be cautious
THE stock markets posted yet another lifetime high on Monday on continued foreign funds' inflows, but experts cautioned small investors from entering A-group stocks where valuations are stretched. The benchmark BSE-30 index rose by 109.81 ... More

Aegis Logistics rises on hopes of land deal with Adani group
AEGIS Logistics moved up by around 5 per cent on the BSE today to close at Rs 310.65 on the hope that the company is poised to clinch a deal for 12-acre land at the Mumbai port with the Adani group. The traded quantity in the counter also ... More

TAC to issue shares to South Indian Bank
TUTICORIN Alkali Chemicals & Fertilisers Ltd (TAC) has informed the stock exchanges that the Board of Directors of the company at its meeting held on Monday has approved issue of 5,62,430 equity shares with face value of Rs 10/- each on ... More

TECHNICAL ANALYSIS


Bull run continues
THE sentiment reading of the tradable counters remains bullish. Bear domination on Tuesday is likely to change the sentiment reading in their favour. On the contrary, the bullish sentiment is likely to be further strengthened. Nifty futures ... More

STOCK MARKETS


Micro Technologies gains on new product
MICRO Technologies rose sharply on Monday. The stock moved up 9.76 per cent at Rs 319.80 on the BSE with volumes of 6.92 lakh shares. Dealers said the interest in the stock is due to the company's product, Vehicle Black Box, a security system ... More

FII inflows cross $10b in 2005
THE investments by FIIs in the Indian equity markets have crossed $10 billion in the 2005 calendar, the highest ever by the foreign funds in a single year after FIIs were allowed to make portfolio investments in the country's stock markets in the ... More

FOREIGN INSTITUTIONAL INVESTORS


Warburg Pincus sells part stake in GACL
TWO bulk deals in the shares of Gujarat Ambuja Cements Ltd on the BSE in which 5.8 per cent equity stake in the company changed hands, led to rumours that a large global cement player might be trying to get a foothold in the company. Company ... More

FIIs get highest allotment in ICICI Bank follow-up issue
Foreign institutional investors (FIIs) have been alloted the highest number of shares in ICICI Bank's recently concluded follow-up issue. FIIs were allotted 4.41 crore shares for Rs 525 each (a total value of Rs 2,315 crore). ICICI ... More

ASSET MANAGEMENT COMPANIES


IBM eyes stake in UTI Venture
IBM is eyeing a stake in UTI Venture, a 100 per cent subsidiary of UTI Asset Management Co. While highly placed sources at UTI Mutual Fund ruled out a strategic deal in the immediate future, they referred to a number of top international ... More

REGULATORY BODIES & RULINGS


SEBI bars DSQ Biotech from markets till April 2008
THE Securities and Exchange Board of India (SEBI) has barred DSQ Biotech Ltd from accessing the capital market or dealing in securities till April 9, 2008, after the Securities Appellate Tribunal (SAT) rejected an appeal from the company against ... More

COMMENTARY


Bulls maintain tempo; propel Sensex to record high
IT was yet another day of record close as the benchmark Sensex was propelled to new heights by the bulls. The buoyancy experienced in the final trading session of last week was carried forward on Monday. The morning session saw a cautious ... More
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