The Hindu Business Line : Thursday, March 01, 2007

BUDGET
Institutions allowed short selling; greater market depth seen
Budget 2007-08 has allowed institutions to short sell with compulsory settlement by delivery, along with securities lending and borrowing to facilitate delivery. Short selling refers to sales of securities not held by the seller; while closing ... More

Bears run amok on Dalal Street
B-days are associated with a high degree of volatility in the Indian markets and today was no different. There was a splash of red across global market indices on Tuesday following the clampdown by the Chinese Government on illegal investment. ... More

PAN made sole ID number for investors
Permanent Account Number (PAN) issued by the Income Tax Department has been made the sole identification number for all participants in the securities market. Presenting the Budget, the Union Finance Minister said that an alphanumeric prefix or ... More

Larger overseas pie, but a blow for liquid funds
Budget 2007 has an unexpected package of proposals for the mutual fund industry, with a mixed impact on players. On the positive side, it opens up new avenues for fund houses to expand their product suite through new infrastructure funds and ... More

Steps to strengthen capital market
The capital market is an important instrument for intermediating financial resources. Recognising the strength of the Indian capital market, the International Organisation of Securities Commissions (IOSCO) has ... More

CAPITAL MARKETS
No bad news is good news
The absence of any overt negatives for the capital markets in this Budget proved to be positive, putting aside fears of an increase in STT (securities transaction tax) or capital gains tax. The Finance Minister's decision to not tinker with ... More

Budget impact: Sesa Goa slumps 8.5%
`Export duty on iron ore to have disastrous effect' More

`A mix of positives & negatives'

STOCKS
Nasscom disappointed; to take up concerns with Govt
`MAT proposal to be hard on small cos; FDI may be hit' More

TAXATION
Dividend tax on MFs investing in money markets raised
The Union Budget has marked up the dividend distribution tax (DDT) on mutual funds investing in money market and liquid markets to 25 per cent for all investors. The Finance Minister said the funds enjoy concessional tax rates allowing for huge ... More

`No change in STT is positive'
The Chairman of Karvy Group, the country's leading stock broking firm, Mr C. Parthasarathy, said: "From a capital market perspective, let me focus on the positives of the Union Budget first.'' The decision to maintain the levels of capital ... More

TECHNICAL ANALYSIS
Bear domination
Bears dominated Wednesday's trading activity. The sentiment reading of the tradable counters remains bearish. Bull move on Thursday is likely to change the sentiment reading in their favour. On the contrary, the prevailing bearish sentiment is ... More

STOCK MARKETS
Sensex sees biggest fall on Budget day in last 5 years
The Budget failed to enthuse market participants on a choppy day and the Sensex has shed close to 540.74 points to 12,938.09. It was the biggest fall since the May 18, 2006 correction and it was the lowest close since December 12, 2006. This ... More

`Move on cement will be counterproductive'
Cement stocks dwindle on selling pressure More

Sombre mood prevails as stock dealers gauge Budget
With the stock market taking a beating from the opening bell on Wednesday, the dealing room at Emkay Share and Stock Brokers Ltd's office in Worli was buzzing with activity ahead of the Finance Minister's Budget speech. Once the speech started ... More