Financial Daily from THE HINDU group of publications
Saturday, January 11, 2003
Markets (Jan. 10)
BL 2501128.89 (-18.40)
BSE Sensex3358.99 (-25.21)
S&P CNX Nifty1080.25 (-17.10)
Dollar (Buy/Sell)47.93/48.06
Gold Std (10 gm)5680 (-30)

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MUTUAL FUNDS


MFs can invest $1 b in listed foreign cos — Window open also for individuals, corporates
AS part of a slew of big-bang measures aimed at further flexibility in capital account transactions and integrating the Indian financial market with the global capital markets, the Finance Minister, Mr Jaswant Singh, today announced that ... More

`MF investors can diversify the risk element'
THE proposal to ease overseas investment rules for mutual funds would help investors in diversifying their risk and giving better return for the investors, mutual funds analysts have said. The Chairman of the Association of Mutual Funds in ... More

Sensex-based funds on free float `must rebalance portfolios'
INDEX funds based on the Sensitive Index (Sensex) of the Bombay Stock Exchange, which is expected to go on free float, will need to rebalance portfolios in order to align them with the changed weightages. At the moment, there are a number of ... More

TECHNICAL ANALYSIS


Bear onslaught
BEARS were in total command of Friday's trading activity. Bulls were unable to make any impact during the day's trading. Friday's market action resulted in reducing the bull count by a considerable margin. The sentiment reading of the tradable ... More

STOCK EXCHANGES


BgSE to go slow on external evaluator
The bourse had approached leading investment bankers to value the company following market watchdog, SEBI's directive on corporatisation and demutualisation of stock exchanges. More

STOCK MARKETS


Value buying pushes up Canara Bank
CANARA Bank today saw rise in volumes and scaled a new high on the Bombay Stock Exchange and National Stock Exchange on value buying. Analysts and brokers expect improved profits in the third quarter because of the bank's aggressive treasury ... More

IPCL flares up on turnaround hopes
IPCL has been witnessing an upside on the bourses in the recent past in anticipation of a turnaround in the petrochemical sector. The stock, which was quoting around the Rs 78 levels in the first week of this month has since risen to Rs ... More

Goldman Sachs pares exposure in Infosys
GOLDMAN Sachs, the top client of Infosys Technologies, has pared its exposure in the Infosys stock while four new funds have picked up positions over one per cent in the quarter ended December 31, 2002. The institutional holding in the ... More

Infosys meltdown casts shadow on indices
DESPITE announcing a 24-per cent growth in net profit for the third quarter of 2003, Infosys Technologies today lost 7.5 per cent on the BSE, and was the leading drag on both the BSE-TECk index as well as the BSE Sensex. The stock lost Rs ... More

Institutional interest in J&K Bank
JAMMU & Kashmir Bank attracted market attention both from institutional and retail investors. Value buying in the stock was seen on a general rise in public sector bank scrips. The bank has te lowest NPA in the industry and also is a good ... More

DERIVATIVES MARKETS


SEBI pulls out 6 cos from derivatives list
THE Securities and Exchange Board of India (SEBI) today decided to defer derivative trading in stocks of Zee Telefilms, Aftek Infosys, GTL, Himachal Futuristic, and SSI. These five stocks were included in the list of 31 stocks permitted for ... More

REGULATORY BODIES & RULINGS


RBI relaxes norm for stock broking cos
STOCK broking companies, which have registered with SEBI and do not hold or accept public deposits, have been exempted from registering with the Reserve Bank of India. Such companies have also been exempted from maintenance of liquid assets and ... More

COMMENTARY


Infotech stocks lead market fall
AFTER two continuous trading sessions of gain, the 30-stock BSE Sensex ended the last day of the week on a lower note. The selling pressure witnessed by Infosys Technologies following its quarterly earnings announcement appears to have ... More
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