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AMFI
registration mandatory for intermediaries
Mumbai: Intermediaries engaged in selling and marketing
of mutual funds units would have to register themselves
with the Association of Mutual Funds in India (AMFI) by
March 31, 2003, as per guidelines of the Securities and
Exchange Board of India.
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Dow
slips 34 points at close
Mumbai: Blue-chip stocks sagged on Monday after
a report showed US manufacturing shrank for a third straight
month, but technology shares inched up after Wall Street
investment banks made upbeat comments on the chip and
wireless industries.
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Bulls
dominated the market
Mumbai: Bulls were in total command of Monday'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 totally
bullish.
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Bid
towards demutualisation - BgSE to appoint evaluator
Bangalore: Following demutualisation, the stock
exchange is likely to be clubbed with its subsidiary,
BgSE Financials Ltd, through a reverse merger.
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Divestment
hopes lift BPCL, HPCL
Mumbai: The market expects early divestment in
BPCL and HPCL. The talk is that the government is likely
to disinvest its stake in HPCL in the current fiscal and
in BPCL in the first half of next fiscal year.
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Derivatives
seen to overtake cash market
Mumbai: With the Sebi board giving clearance for
adding more securities in the derivatives segment, trading
volumes are expected to overtake the cash market, stock
brokers and analysts said.
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Ketan
Parekh held in Mumbai
Kolkata: The Kolkata Police yesterday arrested
stockbroker Ketan Parekh, one of the accused persons in
the case relating to the Rs 120-crore Calcutta Stock Exchange
scam. He was picked up in Mumbai.
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Re
firms up; gilts weak
Mumbai: The rupee ended on Monday at 48.27/28,
tad stronger than its earlier close of 48.2850/2950 against
the dollar in the forex market. State-run banks were seen
mopping up the good supply of the greenback.
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