Markets Restart
Mumbai: Creating another record, with the highest intra-day gains ever, the 30-share Sensex of the Bombay Stock Exchange jumped 8.25 per cent or 371 points to close at 4877.02 while the broader S&P CNX Nifty of the National Stock Exchange rose 8.3 per cent to close at 1503.95.
Mutual funds have bought stocks worth nearly Rs 750 crore in two days. According to SEBI data though foreign institutional investors were net sellers on Monday, their gross purchases for the day have exceeded Rs 1,200 crore.

Market Gainers
HDFC Bank, Wipro, IPCL, Bank of Baroda, Sterling Biotech, Federal Bank, HDFC Bank and Bank of Baroda, PNB, Oriental Bank, IOB, Bank of India, Andhra Bank, UCO Bank, Sundram Fasteners, SKF Bearings, Exide Industries, Alstom

Market Losers
L&T, BPCL

Market Counters
BSE 30
Figures in Rupees
Gain (+) / Loss (-)

ACC                                253.50                    +7.35
Bajaj Auto                        877.45                    +32.75
Bharti Televentures           146.75                    +11.50
BHEL                               437.70                   +39.40
Cipla                                 238.80                    +22.40
Dr Reddy                         887.65                     +100.00
GACL                              285.15                     +9.40
Grasim                             1,069.85                  +51.55
HDFC                              591.60                     +87.85
HDFC Bank                     356.30                     +70.05
Hero Honda                     443.25                      +36.00
Hindalco                          925.70                       +59.70
HLL                               130.35                         +10.10    
HPCL                             318.85                        +4.05
ICICI Bank                     260.90                        +22.20
Infosys                            4,886.75                     +359.70
ITC                                 917.55                        +89.55
L&T                                444.55                        -18.40
MTNL                            120.95                        +14.40
ONGC                            639.25                        +9.50
Ranbaxy                          1,008.15                     +38.50
Reliance                           433.65                       +30.05
Satyam                            308.00                        +14.90
SBI                                  490.85                       +43.85
Tata Motors                     401.75                       +24.95
Tata Power                      288.10                       +26.55
TISCO                            293.60                       +31.05
Wipro                             1,543.60                     +281.75
Zee Tele                          124.30                       +3.65

Others
Maruti Udyog up Rs 47 at Rs 447
Balrampur Chini up Rs 23 at Rs 300
Bharti Tele up 8.50 per cent at Rs 146.75
Asian Electronics up 14.58 per cent at Rs 48.4
Gail up 32.83 per cent at Rs 171.55
Sesa Goa down 9.64 per cent at Rs 283.60
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Videshi friends are very much around
Mumbai: According to data from the SEBI, FIIs have bought securities worth Rs 2,216.6 crore on Friday and Monday, the days the markets crashed the most. The gross purchases of FIIs, for Monday, are Rs 1,236.4 crore, their highest purchase on a single day in the last 25 days. Mutual funds were net buyers through Friday registering gross purchases of Rs 443.7 crore, against gross sales of only Rs 102.14 crore, according to SEBI data.
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RBI: Status quo on margins for loans against shares
Mumbai: The Reserve Bank of India has reduced the margins for bank financing against shares from 50 per cent to 40 per cent with immediate effect. In a statement RBI said, "Based on the recommendations, the RBI had decided to restore the status quo ante on margins that banks have to maintain for financing against shares, IPOs and issue of guarantees." It said the minimum cash margin of 25 per cent (within the margin of 50 per cent) stands reduced to 20 per cent.
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domain-B : Indian business : News Review : 19 May 2004 : markets