Sensex up 74 points at 5,871
Mumbai: The Sensex opened with a huge positive gap of 35 points at 5,832. It is now up 74 points at 5,871. Infosys has zoomed nearly 2% (Rs 96) to Rs 5,585. Satyam is up Rs 9 at Rs 340. Wipro has advanced Rs 32 to Rs 1,785.

ITC is up Rs 15 at Rs 1,008. HLL is up Rs 3 at Rs 209. Reliance is up Rs 3 at Rs 540. SBI has added Rs 5 to Rs 542. ONGC, BHEL and MTNL are also trading with gains. Pharma and auto scrips are also trading in positive zones.
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Nasdaq crosses 2,000, Satyam zooms 12%
New York: Stocks rallied sharply on Wall Street yesterday on sustained buying. While the Dow advanced 125 points to 10,450, the Nasdaq Composite gained 33 points to close at 2,006 — a close above 2,000 for the first time since January 2001.

Indian floats, too, logged sharp gains. Satyam jumped 12% to $29.99. Infosys zoomed nearly 5% ($4.22) to $91.50. Wipro gained 6% to $48.69. ICICI Bank vaulted 14% to $17.91. HDFC Bank and VSNL, however, declined.
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NSE brokers to issue contract notes
Mumbai: The National Stock Exchange (NSE) has directed its trading members to directly issue contract notes to customers for purchase and sale transactions, even if the transaction was conducted through a sub-broker. The directive from the NSE comes into effect on 2 February 2004, and follows the amendment to the Securities and Exchange Board of India (Stock Brokers and Sub-Brokers) Regulations, 1992.

In effect, the delivery of securities and payment of funds, relating to transactions, will be made directly between the trading member and the client of the sub-broker, NSE said in a notice.
This will effectively do away with the need for sub-brokers for issuing contract notes. NSE has cited the need to avoid the role of multiple intermediaries in the capital market as the reason behind its latest move.
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Petronet plans Rs 340-crore public issue
Ahmedabad: Petronet LNG Ltd will make an initial public issue in February, according to a top company official. This follows the 'mechanical' commissioning of the country's first regassified liquid natural gas (LNG) terminal was developed by the company at Dahej in Bharuch district of Gujarat on Monday.

Even before the first ship carrying LNG could reach Dahej — it is scheduled to offload 1,39,000 cubic metres of the gas — the first year's capacity of Petronet LNG of 5 million metric tonne (mmt) has already been sold to various state-owned and private companies.
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