FIIs net purchases at $526.9 million
Mumbai: According to the data available with Securities and Exchange Board of India, the foreign institutional investors have recorded net purchases of Rs 2,397.5 crore (US dollar 526.9 million) in equities and Rs 276 crore (US dollar 60.4 million) in debt for the month of February. This is lower than the previous month for both segments.

Mutual funds, however, have registered net outflows in equities and debt at Rs 470.23 crore and Rs 465.31 crore respectively in the second month of 2004, here.
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Delhi to host 'Made in Pakistan'
New Delhi: The first-ever 'Made in Pakistan' exhibition will be held in New Delhi from March 3-11, 2004. Communications and Disinvestment minister Arun Shourie will inaugurate the exhibition on March 3. A conference on Indo-Pak economic relations will be held on March 2, which will be inaugurated by the commerce minister Arun Jaitley.

The conference, to be attended by 150 Pakistani businessmen, is expected to discuss the issuance of business visas, the early implementation of SAFTA, documentation at port entry and other infrastructure related issues. It is expected that with an early implementation of SAFTA, bilateral trade could easily touch between $2 to $5 billion.
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Shourie goes public on market manipulation
New Delhi: In an interview with a private channel, the Disinvestment minister, Arun Shourie has provided details of the trading pattern last week, which according to him, showed evidence of market manipulation by certain players.

According to Shourie, two days before the floor price for the IBP offer was announced the stock fell by Rs 54 or 7 per cent. Then a day before the floor price of CMC was announced, the stock fell by Rs 40 to Rs 540 or 7 per cent and when the floor price of GAIL was released, the stock fell by Rs 8 or 4 per cent.

On the same day, ONGC shares fell by 4.5 per cent. All the controversy over the public offers and a sudden dip in the share prices of GAIL and IBP had created confusion among the small investors.
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