Financial Daily from THE HINDU group of publications
Wednesday, Dec 28, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 28, 2005 |
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Markets
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Stocks Special one-hour trading in Reliance on Jan 18 for index management Our Bureau
Mumbai , Dec. 27 THE Bombay Stock Exchange and the National Stock Exchange have decided to hold a special one-hour trading session in Reliance Industries shares on January 18 for index adjustment. The market capitalisation of RIL would undergo a change due to de-merger. This change would result in the indices requiring adjustment in base market capitalisation, as the four new separate corporate entities due to de-merger are not currently listed and traded and valuing the post de-merger price of RIL is not possible by the exchanges. This special trading session would be from 8 a.m. to 9 a.m. During this period, only RIL shares would be traded and no circuit filter would be there. The volume weighted average price of RIL during this session would be used for adjustment to the base market capitalisation of the respective indices, a release from the NSE said. No index would be calculated during the special trading session and the normal market would commence at 9.55 a.m. The trades done for RIL during the special trading session shall be settled along with the normal market trades of January 18.
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