Markets decline as Sensex loses 94 points
Mumbai: Volumes were thin on the stock markets on Friday, and since it was the last day of the weekly settlement on the Bombay Stock Exchange, the day saw some hectic unwinding. The Sensex of the BSE fell 94.49 points to end the day at 4845.73. The S&P CNX Nifty of the National Stock Exchange too lost 19 points to close at 1459. Institutional investors were not present and this resulted in a sharp fall in the combined turnover of BSE and NSE, which was Rs 6,873 crore.

An exception in a falling market was the cement stocks. ACC touched a new 52-week high of Rs 303, while L&T witnessed renewed trading interest, reaching Rs 483, a new high. Gujarat Ambuja Cements also firmed up and touched a new high of Rs 419.95, but later closed at Rs 363.15. Infotech stocks did not have much trading activity, except leader Infosys Technologies reaching a new high of Rs 13,200. The stock, however, could not sustain at this level, and fell to Rs 12,880 at close.
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CSE, DSE part ways on derivatives bourse
Calcutta: The Calcutta Stock Exchange and the Delhi Stock Exchange have given up their plans to set up a common derivatives trading exchange. The two exchanges have now decided to have their own separate plans for derivatives trading. CSE officials have clarified that the exchange does not wish to join any other exchange for derivatives trading.

The idea was mooted by Delhi Stock Exchange. DSE now plans to have a stand-alone facility for derivatives trading soon.
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Birla Sun Life in No 2 position
Mumbai: Birla Sun Life Asset Management Company, with net assets of Rs 3,549 crore under its management, has overtaken public sector SBI Mutual Fund to become the No 2 mutual fund in India after the Unit Trust of India. SBI Mutual Fund has net assets worth Rs 3,389 crore under its management.

The UTI has a corpus of Rs 63,000 crore. The other major player in the field is Prudential ICICI, which currently has Rs 3,120 crore in assets.
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SAIL plans bonds
Mumbai: The Steel Authority of India Ltd is raising Rs 500 crore through private placement of seven-year bonds via the  book-building route. SBI Capital Markets is the lead arranger for the issue. The amount to be raised includes a greenshoe option of Rs 200 crore. The issue will have two options. The first will have a put and call option available at the end of the fifth year with a book-building range of 11.85 to12 per cent payable annually. The second option has a book-building range of 12 to 12.15 per cent annually but without any put or call option.
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Reliance Petroleum ahead of RIL in market cap
Mumbai: Subsidiary Reliance Petroleum has overtaken parent Reliance Industries in market capitalisation. Reliance Petroleum has a market cap of Rs 24,300 crore, nearly 13 per cent higher than Reliance Industries’ market cap of Rs 21,400 crore. However, these figures are nowhere near the leaders, Wipro, whose market cap stands at Rs 52,601crore, Hindustan Lever (Rs 50,407 crore) and Infosys Technologies (Rs 42,266 crore). Reliance Petroleum is ranked seventh and Reliance Industries at eighth.

Reliance Industries owns 60 per cent holding in Reliance Petroleum. In turnover terms, the parent is way ahead of Reliance Petroleum.
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