Uncertainty rules the market
Mumbai: equities tumbled, rupee weakened and bond prices firmed up while commodities such as crude and yellow metal hardened on Monday following the air strikes on the targets in Afghanistan by the US-allied forces Sunday night.

Though widespread nervousness was seen in various markets across Asia, there was no great war fear, as reflected in moderate fall in equities and modest rise in bond and oil prices.

The local equity markets went into a tizzy and the local benchmark, BSE-30 share Sensex fell 94 points intra-day from the previous close. The Sensex recovered partly towards the end of the session to close at 2765.37, losing 47.53 points or 1.7 per cent. At the NSE, the S&P CNX Nifty lost 12 points or 1.4 per cent.
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Futures trading likely to begin this month
New Delhi: The finance ministry has decided to introduce futures trading in 31 individual stocks by the end of this month. The Securities and Exchange Board of India is said to have virtually finalised the proposal after introducing certain safeguards for preventing abuse of the facility. After Sebis final clearance, the proposal will be vetted by the ministry and introduced in the market.
The other measure, expected to be introduced next week, is relaxed norms for allowing companies to buyback their shares.
Futures trading in stocks provides a deferred payment facility which would help institutions, both domestic and foreign, to actively trade in the designated stocks.
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RBI may bar OCBs from portfolio investments
New Delhi: The Reserve Bank of India is expected to come out with a notification barring all Overseas Corporate Bodies (OCBs) from accessing Portfolio Investment Schemes as part of the drive to clean up the capital markets.

The decision is a follow-up to the recommendations of the two-member committee set up by the RBI and Securities and Exchange Board of India (Sebi) to examine the role of the OCBs and suggest remedial actions.
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BSE set to merge several regional SEs
Mumbai: The Bombay Stock Exchange (BSE) is all set to merge several regional exchanges with it to form a mega national stock exchange. BSE will be shortly holding merger talks with the Rajkot based Saurashtra & Kutch Stock Exchange, after having concluded talks with the Delhi Stock Exchange (DSE).

BSE and the DSE have already announced that they propose to consolidate both the exchanges. The BSE governing board has even given its go ahead to the proposal.
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Crisil scales down Sidbi bond issue
Mumbai: Credit rating agency Crisil has downgraded the bond issue of Small Industries Development Bank of India (Sidbi). However, the fixed deposits of the institution has been removed from the rating watch.

The bond issue of Sidbi has been downgraded to "AA+" from a AAA rating watch with negative implications, pending further clarity on the change in the shareholding pattern of Sidbi from its erstwhile 100 per cent ownership by IDBI.

Crisil said the revision reflects the reduced quality of government ownership in Sidbi as well as increasing concerns regarding the likely impact on the institution of the deteriorating performance of state financial corporations (SFCs) and state industrial development corporations (SIDCs).
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BSE offers 25% discount on card to DSE members
Mumbai: The board of Bombay Stock Exchange (BSE) has decided to offer a 25 per cent discount to Delhi Stock Exchange members for acquiring trading membership in BSE. The BSE board had last month approved acquisition of 100 per cent equity in DSE.

The cost of trading membership in the Bombay bourse was in the range of Rs 25 lakh to Rs 50 lakh.
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