Birla Mutual launches two new schemes
Mumbai: Birla Sun Life Mutual Fund on Monday announced the launch of two new schemes Birla Index Fund and Birla Midcap Fund. The initial public offer for the Index Fund at Rs 10 per unit will open on September 10 and close on September 17, 2002. 
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Bears prevail
Mumbai: Bears exerted their sway over the initial hours of Monday's trading activity. Bulls made a comeback towards the end of the day and recovered their early losses. However, the sentiment reading of the tradable counters stands Bearish. 
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Gammon India in BSE-500
Mumbai: The Bombay Stock Exchange (BSE) has informed that Gammon India will replace Sandvik Asia in the BSE-500 index. The move was necessitated following the delisting of Sandvik Asia from September 9,2002.
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BSE revises special margins on 87 scrips
Mumbai: The rates of special margins have been revised keeping in view the closing price of the scrip on the last day of the settlement. The special margins will be imposed on the basis of member-wise gross purchase or sales position (client-wise net), the BSE said in a statement. 
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Shree Krishna Paper delists from JSE
Mumbai: Shree Krishna Paper Mills & Industries Ltd has informed BSE that the company's equity shares have been delisted from Jaipur Stock Exchange (JSE) from August 27,2002. 
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Bear run in PSU stocks
Mumbai: PSU stocks took a heavy beating on the bourses on Monday, wiping out thousands of crores in market capitalisation following the Government's decision to defer the sale of oil majors such as BPCL and HPCL. 
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FII interest perks up in ICICI Bank
Mumbai: ICICI Bank opened stronger on Monday with a huge block deal. Dealers said that a prominent foreign institutional investor had placed an order for a block of 10 lakh shares on the BSE at Rs 142. 
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PSUs' loss is infotech's gain
Mumbai: With the disinvestment story fizzling out, the PSU sector's loss seems to have become the technology sector's gain as players repositioned themselves to go overweight on tech stocks on the bourses on Monday.
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Nifty spot-futures gap widens
Mumbai: Nifty index closed on Monday at 998.55 where as Nifty September futures last traded at 984, a discount of 14.55 points (1.45 per cent). However, in recent days the discount had not been so high, dealers said. 
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HPCL, BPCL hammered down; lose over 20 pc
Mumbai: The postponement of the Government's disinvestment's programme in Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) saw a strong negative sentiment sweeping the markets on Monday. 
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Rupee up 9 paise; gilts range-bound
Mumbai: THE rupee on Monday closed 9 paise stronger at 48.50/51 against the dollar as compared to Friday's close of 48.5925/60 in the forex market. 
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