Markets hesitant due to impending poll outcome
Mumbai: There is hesitation in the markets on account of the uncertain election results. Although opinion polls indicated a return of the Bharatiya Janata Party to power, neither investors nor operators want to take any risks.

The Bombay Stock Exchange's 30-share benchmark Sensex declined by 47.60 points to 4654.72. Foreign institutional investors, who have been net sellers for the past few days were absent and domestic institutions were sellers.

The S&P CNX Nifty also lost 30.90 points to close at 1372.30.

The trading volumes at the BSE stood at Rs 2,013.27 crore. At the NSE the volumes were Rs 2,421.63 crore.

Most of the pivotals recorded moderate losses.
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Market-making only for specific scrips: panel
Mumbai: A committee on market making set up by the Securities and Exchange Board of India has suggested that market making should be allowed in specific shares only. The report has also said that the spreads between the bid and ask price should be reviewed by Sebi from time to time, keeping in view the operational experience.

The committee was headed by Industrial Development Bank of India chairman G.P. Gupta. It has asked investment institutions to encourage their broking subsidiaries to take up market making in order to aid and strengthen the activity.
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Delisting announced
Mumbai: The Bombay Stock exchange has advised investors not to deal in securities of Bharti Telecom, Industrial Oxygen Company, Kemwell International and Piramal Holdings with effect from 11 October as these companies have requested the exchange to delist their securities. The BSE will announce the exact dates on which these companies will be struck off the list of officially quoted securities later.
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UTI gilt fund payout
Mumbai: The Unit Trust of India said it is making the first income distribution of its gilt fund -- UTI G-Sec Fund in February-March 2000. The open-ended fund, whose initial public offering ended in early September, had raised Rs 274 crore. The net asset value of the scheme on 30 September was Rs 10.0821.
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Sebi asks NSDL to probe failure
Mumbai: The Securities and Exchange Board of India has asked the National Securities Depository Ltd to investigate why the depository system failed to respond to orders from some depository participants on 27 September. The problem resulted in some NSE brokers' terminals getting disabled after they failed to make the pay-in on time.

A number of depository participants have complained that they were unable to send their clients' instructions to NSDL due to problems at the depository's end.
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OIL listing plan rejected
New Delhi: The Securities and Exchange Board of India has rejected the proposal of Oil India to list its shares on the stock markets. OIL chairman and managing director B.B. Sharma said Sebi has not accepted the company's request as the company has not complied with Sebi's guidelines on public offer.

OIL had sought the enlistment after giving its employees shares under an employees' stock option plan.
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Calcutta bourse for commodities trading
Calcutta: The Calcutta Stock exchange is looking at offering commodities trading facilities and plans to approach various commodity exchanges in the country with a proposal. The exchange intends to become major derivatives trading body soon and it is finalising a module for derivatives trading. Once it is ready, the module will be extended to commodities trading as a added facility.
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London bourse plans demutualisation
London: The London Stock Exchange is preparing for its planned demutualisation. Under the plan, the exchange will hand over the role of supervising new company listings to Financial Services Authority, the country's financial super watchdog. The move is to avoid any possible conflict of interest between the exchange's role as regulator and its commercial objective. The exchange, will however, retain powers to monitor share trading activity in the London market.
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