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Post-Budget
sensex dip 2nd worst in 10 years
Mumbai: Indian equity markets are in the midst of
a very bad phase. The beleaguered condition of the market
can be guaged by the fact that the Sensex has dipped by
four per cent in a week after the Budget despite the Sensex
being the lowest ever on the Budget day, at least in the
last 10 years.
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NSE
changes price bands
Mumbai: The National Stock Exchange has revised the
price bands of the following securities from March 10.
According to a NSE press release, a two per cent price
band is applicable to Morepen Hotels, Rajesh Exports and
Remsons Inds.
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BSE
modifies circuit filter limit
Chennai: The BSE has reduced the circuit filter levels
for the following scrips from Monday. Scrips such as Classic
Electricals, GSL (I) Ltd, Idea Space Solutions and Integrated
Financial Services will now be the under part of 10-per
cent circuit filter limit. The circuit filter limit was
reduced to five per cent for Kovai Medical Centre &
Hospitals and pankaj Polymers, the BSE release added.
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United
Phosphorus: Restructuring to be fruitful
Mumbai: United Phosphorous may see some action with
the company's board meeting next week to consider a restructuring
of its businesses with that of Search Chem, its subsidiary.
The board meeting is scheduled to be held on March 14.
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SEBI
relief to SE subsidiaries on turnover fee
Hyderabad: In a significant development, providing
the much needed clarity to the issue of exemption from
payment of turnover fee by the subsidiaries floated by
regional stock exchanges (RSEs), the Securities and Exchange
Board of India (SEBI) has issued detailed guidelines on
computation of turnover fee.
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Wrangle
over regulatory body delays IDR norms
New Delhi: According to senior official of the Ministry
of Finance, that houses both the DEA and the DCA, a choice
has to be made between the Security Exchange Board of
India (SEBI) and the DCA itself as the regulatory body
for IDRs.
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Infy
premium drops
Mumbai: The stock market in the US fell for the sixth
week in last eight weeks as US appeared to be made up
its mind to strike Iraq even without a United Nations
permission. For the week, the Dow fell 1.9 per cent to
7740.03; the Standard & Poor's 500 Index dropped 1.5
per cent to 828.89 and the tech-laced Nasdaq Composite
Index lost 2.4 per cent to 1305.29.
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Year-end
concerns override Budget euphoria — Selling pressure
on gilts may continue
Mumbai: Bond markets ended weak after the Budget euphoria
evaporated and traders' year-end concerns overrode all
other issues. Last week, the ten-year yield to maturity
(YTM) remained almost steady at 6.32 per cent, as against
the previous week's 6.31 percent.
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