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Grasim
stock dips, L&T gains before SAT order is out
Mumbai: The stock price of Grasim Industries finished
with losses, while that of Larsen & Toubro spiralled
higher on Thursday ahead of the judgment given by the
Securities and Appellate Tribunal in favour of the market
regulator the Sebi and dismissing the interim relief sought
by Grasim Industries.
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Market
expected to remain steady
Mumbai: The market should take on a steady note
on Friday, as stock prices are likely to display mixed
trends. While retail participation appears to be growing
in the market, foreign institutional investors turned
net sellers over the last couple of sessions.
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Income
funds' NAV up sharply
Mumbai: A month after the Reserve Bank of India
announced its latest credit policy, net asset values (NAVs)
of income funds have moved up sharply, the average growth
figure for the month being at around 2.5 per cent.
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Bull
dominated the market
Mumbai: Bulls were in total command of Thursday's
trading activity. Their dominance left the bears with
no opportunity to recover during the day's trading. The
sentiment reading of the tradable counters stands mildly
in favour of the bulls.
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Kotak
Mahindra up on rejig talk
Mumbai: Kotak Mahindra Finance, the finance company
to be converted into a bank shortly, gained sharply on
market talk that the company is on the verge of selling
its non-core investment, including its stake in Business
Standard Ltd.
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Silverline
spurts on speculation - Analysts caution small investors
Mumbai: The Silverline Technologies stock has been
witnessing seven-digit volumes and sharp price rise on
the major stock exchanges on speculative and trading calls.
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SEBI
turns down CSFB registration renewal
Mumbai: The Securities and Exchange Board of India
yesterday rejected the application for the renewal of
Credit Suisse First Boston (CSFB) registration as foreign
institutional investor and its various sub-accounts on
the ground that the firm's broking outfit in India, Credit
Suisse First Boston (I) Securities Pvt Ltd, had been suspended
for a period of 2 years.
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Market
regains confidence as tech stocks
sizzle
Mumbai: After Wednesday's correction, the benchmark
BSE Sensex staged a comeback on Thursday and closed higher.
The upward movement of the Sensex was aided by the buying
support witnessed in infotech stocks and in index heavyweights.
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Rupee
loses; gilts volatile
Mumbai: The rupee closed almost two paise weaker
on Thursday at 48.2650/27 against the dollar, as compared
to 48.2450/2550 on Wednesday in the forex market.
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