Ceiling on FII investment to go
New Delhi: Union finance ministry has decided to raise the ceiling on foreign institutional investment (FII) in Indian companies from the present 49 per cent to 100 per cent.

The government also plans to liberalise norms pertaining to margin trading and strengthen the Securities and Exchange Board of India (SEBI) to facilitate easy functioning of the capital market.

The move to liberalise the capital market comes in response to the negative sentiment triggered by the crisis on the Wall Street.

The governments main concern is to prevent the international negative sentiment from unduly impacting the Indian economy.
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Wall Street to open on Monday
New York: The New York Stock Exchange will resume business on Monday, NYSE chairman Richard Grasso announced.

The stock exchanged remained closed since terrorists smashed the twin towers of the World Trade Center last Tuesday. Many stockbrokers had their offices in the towers.

U.S. financial markets have been paralysed since Tuesday after two hijacked planes destroyedthe World Trade Center's twin 110-storeyed towers, leaving an enormous pile of twisted steel and glass and some 5,000 people feared dead. It has been the longest shutdown since March 1933, when president Franklin D. Roosevelt ordered a special banking holiday during the great depression.

The two other main U.S. exchanges, the American Stock Exchange and the Nasdaq, will also reopen after successful weekend tests.
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Tokyo Stocks Plunge 511 Points
Tokyo: The Tokyo market's main index fell nearly 5 percent Monday, plunging below the symbolically important 10,000 level amid worries about the global economy following last week's terror attacks in the United States. The dollar was lower against the yen.

The benchmark 225-issue Nikkei Stock Average shed 488.20 points, or 4.88 percent, to 9,520.69 at Monday's morning close to its lowest level this year, recovering from even lower levels earlier in the session. On Friday, the average closed up 395.80 points, or 4.1 percent.

The dollar bought 117.38 yen in midmorning trading, down 1.56 yen from late Friday in Tokyo but above its late New York level of 117.29 yen on Friday.

On the stock market, the Nikkei index's drop came after the Tokyo stock market returned to normal business hours after some restricted trading last week in the wake of the Sept. 11 terror attacks in Washington and New York.
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