Markets go up
Mumbai: Prices on the Bombay Stock Exchange rose on 5 October 1999, while the National Stock Exchange showed marginal gains.

The Bombay Stock Exchange index of 30 shares rose from 4,654 points on 4 October 1999 to 4,708, that is, by 54 points. The National Stock Exchange index of 50 shares closed at 1,378 points, rising just 6 points.

Both stock exchanges witnessed buying support after 1 p.m., until when there was bearishness. Satyam Computers and Infosys Technologies were some of the major gainers as there were rumours in the market that foreign institutional investors’ investments in these company’s had fallen below 26 per cent. Satyam hit a new intra-day high and clocked Rs.292 crore turnover on the Bombay Stock Exchange.

Other companies’ shares that were actively traded were Ranbaxy, Zee Telefilms and Reliance Industries.
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RBI panel suggests compulsory listing for privately placed bonds
Mumbai: All privately placed bond issues will have to be compulsorily listed, according to a Reserve Bank of India panel on non-SLR investments. The panel has further come out with a minimum set of disclosure guidelines.

If the panel’s recommendations are adopted by the RBI, privately placed debt issues will come under the purview of the Securities and Exchange Board of India.
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Demat list increased
Mumbai: The Securities and Exchange Board of India has increased the number of shares that will be traded in the dematerialised mode by 96, for all investors. The total number of companies under the compulsory dematerialised trading list now goes up to 200.

Of the 96, shares of 56 companies will be compulsorily traded in the dematerialised form from 29 November 1999, and the rest from 17 January 2000.
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MFs mop-up has shot up
Mumbai: A Securities and Exchange Board of India report says that during the six month period April-September 1999, Indian mutual funds collected almost what they collected in the entire financial year ended 31 March 1999.

During April - September 1999, the collections were Rs.21,000 crore compared to the Rs.22,711 crore in 1998-99.
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ICDS to make open offer
Mumbai: As per directions from the Securities and Exchange Board of India, the Manipal-based ICDS will make an open offer for ICDS Securities Ltd in the next few weeks.
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Sebi asks exchanges to be vigilant
Mumbai: The stock exchanges in the country have been asked by the Securities and Exchange Board of India to report any incidents that occur regarding pay-in period and broker terminals. The Sebi had only recently resolved the problem of depository participants, when many of them did not report the pay-in details to the depository owing to a systems failure.
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PNB, Kotak plan two schemes each
New Delhi: PNB Mutual Fund will launch two open-ended schemes shortly. It will also convert its closed-ended tax savings scheme – EGF 96, which had a net asset value of Rs.12.14 on 28 September 1999 -- into an open ended scheme. PNB Mutual claims that of its eight closed-ended schemes, six have outperformed the BSE Sensex during the first five months of the current financial year.

Kotak Mahindra Mutual Fund will launch two new schemes by March 2000. One of the funds will be a sector-specific fund, most probably investing in the information technology sector. Currently, it has over Rs.400 crore of assets under management.
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