Financial Daily
from THE HINDU group of publications

Saturday, September 15, 2001








Page One

Sensex down 157 on war fears
STOCK prices plunged further and the rupee weakened on Friday following unabated selling pressure by foreign institutional investors (FIIs). Equities tumbled for the third consecutive day amid heavy selling by hedge funds in their flight to safety, pulli ng down the benchmark intra-day to an eight-year low.

 FIIs go in selling spree to raise funds
FEARS of a further meltdown in the equity market in the coming days and the impending US retaliatory action forced foreign institutional investors (FIIs) today to encash a large part of their holding.

Rupee loses 26 paise on uncertainty; bond prices crash
THE uncertainty of the nature of US retaliation and its likely impact on the economy has further dragged the already weak sentiment in the currency and bond markets, with the rupee losing 26 paise and bond prices crashing by nearly two rupees across matu rities.

Blue chips go for a toss
THE decline in the BSE Sensex for the eighth consecutive day on Friday has shaved the market capitalisation of major companies considerably.

 Be prepared for harsh measures: PM
THE Prime Minister, Mr Atal Bihari Vajpayee, today said that the country in general and the people in particular must prepare for ``harsh measures'' in the coming months as a sense of uncertainty in the global economy had heightened in the wake of ``the fiendish destruction in the United States'' by terrorists.

AI valuation put on hold -- Govt awaits clear indication from Tatas
THE Government has called for a temporary halt to the valuation of Air India (AI) till such time as a clear indication is available from the lone bidder -- the Tatas -- on whether they would continue in the race or not.

Panel set up on auto fuel policy
THE Government has constituted an Expert Committee headed by Dr R.A. Mashelkar, Director General, CSIR, to recommend an ``Auto Fuel Policy'' with specific reference to major cities and also devise a road map for its implementation.

CBI probing bank deals of Santosh Mohan Dev
THE Central Bureau of Investigation (CBI) has launched an enquiry into the bank transactions of the former Union minister for steel and mines, Mr Santosh Mohan Dev.

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