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Barjeel
extends reach to US, Europe via Refco tie-up
Mumbai: Barjeel Securities, the joint venture between
Indian firm Geojit Securities and Al Saud Group of Sharjah,
has entered into a strategic relationship with the financial
services organisation, Refco Group Ltd, US, to offer trading
in the US and other European countries.
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UTI
staff resent 'transfer' move
Mumbai: Just when it appeared that Unit Trust of
India (UTI) had left behind its train of troubles, employees
of the country's largest mutual fund have decided to up
the ante of what was until now a low-key protest against
'privatisation.'
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Tech
schemes lag BSE IT index: Crisil
Mumbai: On the equity side, the narrow indices
such as Nifty and Sensex continued to underperform the
broader indices the Nifty one year point-to-point return
was negative 2.10 per cent while CNX Midcap 200 gave returns
of 20.63 per cent.
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Chola
MF plans scheme on capital protection plank
Mumbai: Cholamandalam Mutual Fund is set to be
the first asset management company to tee off a scheme
with provision for capital protection. The plan is in
the final stages of completion and the fund will shortly
seek approval from the Securities and Exchange of India.
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Volatile
movement on the bourses
Mumbai: Market movement on Thursday was volatile.
Neither bulls nor bears could establish clear market direction
in their favour. However, the sentiment reading of the
tradable counters stands bullish.
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Funds
losing fancy for Bajaj Auto
Mumbai: Bajaj Auto has been declining in the past
few days. Market sources said that a prominent foreign
financial institution and UTI had been major sellers in
the counter.
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PSU
stocks reel under selling pressure
Mumbai: The benchmark BSE Sensex traded in a narrow
band on Thursday and closed lower for the second trading
day in a row. Selling pressure witnessed by the public
sector units (PSUs) appears to be the reason for the decline.
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CSE
probe: Bail plea of ex-MD of SHCIL rejected
Kolkata: S C Misra, the Chief Metropolitan Magistrate
of Kolkata, has rejected the bail prayer of B V Goud,
former managing director of Stock Holding Corporation
and S N Pal, senior vice-president of IndusInd Bank.
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Rupee
closes at nine-month high
Mumbai: The rupee continued its appreciation closing
at a nine-month high of 48.2850/29 against the US dollar
on Thursday. This is comparable to 24 January 2002 levels
when the currency had opened at 48.28/29 and had closed
at 48.34.
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