Markets: Pick and choose through the day
Mumbai: The BSE Sensex traded in a narrow trading range of about 21points closing at 5210.85, up 0.36 per cent or 18.77 points over Tuesday's close of 5192.08. The S&P CNX Nifty closed at 1635.45, up by 0.23 per cent over the previous day's close of 1631.75.

Market Gainers
Ranbaxy Laboratories, State Bank of India, Grasim, BHEL, Grasim, Gujarat Ambuja Cement, ACC, Agro Dutch Industries, Wyeth, Matrix Labs, SBI, Punjab National Bank, Vijaya Bank, Shasun Chemicals, Motherson Sumi, Larsen & Toubro

Market Losers
Bharti Tele-ventures, Tata Steel, Zee Telefilms, Biocon, Praj Industries, Lupin, Kochi Refineries, Apollo Hospitals

Market Counters
BSE 30
Figures in Rupees

ACC	271.20
Bajaj Auto	932.85
Bharti Televentures	137.15
BHEL	565.40
Cipla	238.65
Dr. Reddys Laboratories	700.30
Grasim Industries	1,134.40
Gujarat Ambuja	332.70
HDFC	561.70
HDFC Bank	368.10
Hero Honda Motors	447.20
Hindalco Industries Limited	1,182.65
Hindustan Petroleum Corp	319.50
HLL	112.45
ICICI Bank	270.70
Infosys Technologies	1,580.30
ITC	1,046.50
Larsen & Toubro Limited	792.80
Maruti Udyog	388.35
MTNL	122.70
ONGC	714.55
Ranbaxy Labs	973.30
Reliance Energy	646.50
Reliance Industries	475.65
Satyam Computer Services	339.00
State Bank Of India	450.65
Tata Motors	392.70
Tata Power	264.55
TISCO	249.60
Wipro	576.00
Zee Telefilms	148.75

Others
Agro Dutch Industries up 20 per cent at Rs.41.45
Wyeth's up by Rs.27.3 at Rs.468.85
Shasun Chemicals up 9 per cent at Rs.456.55
Motherson Sumi's up Rs.7.6 at Rs.67.85
Biocon's down Rs.11.55 at Rs.531.4
Banswara Syntex up 9.96 per cent at Rs.38.65
Jindal Steel and Power down 2.12 per cent at Rs.573.55
Berger Paints India up 4.54 per cent at Rs.40.30
Sona Koyo Steering Systems up at Rs.44.20
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FII investment up a record 1,602 per cent — MF assets grow 1015 per cent in 2003-04
Mumbai: Foreign institutional investors (FIIs) made net investments of Rs.45,767 crore during 2003-04, clocking a growth of 1,602 per cent over the previous year, a record in the history of FII investment in India, according to the annual report of the Securities and Exchange Board of India (SEBI).

Gross purchases by FIIs during the year amounted to Rs.1, 44,858 crore, a growth of 208 per cent compared to the year before.

FIIs have maintained positive net investments, indicating higher value of purchases over sales, for all twelve months of the year under review.

Similarly, assets under management of mutual funds also increased significantly during the year. The increase of Rs 46,809 crore in mutual fund investments registered a growth of 1,015 per cent over the previous year.

Private sector mutual funds mobilised Rs.5,34,650 crore with a market share of 90.59 per cent while public sector mutual funds and UTI together mobilised Rs.31,548 crore and Rs.23,992 crore, respectively (market share of 5.35 per cent and 4.07 per cent, respectively).
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FII registrations with SEBI up at 72
New Delhi: A total of 72 foreign institutional investors (FIIs) have registered with the Securities and Exchange Board of India (SEBI), during the first five months (April-Aug) of the current fiscal.

During 2003-04, 83 FIIs registered with the capital markets regulator. SEBI sources said that the total number of FIIs that are registered with SEBI as on August 31 stood at 604.

The number of new sub-accounts registered with SEBI during April-August 2004 stood at 282 as against a level of 203 during 2003-04. The total number of sub-accounts registered with SEBI as on date stood at 1,667.
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SEBI report sets out its plans for FY '05
Mumbai: The Securities and Exchange Board of India (SEBI) has drafted a strategic action plan for 2004-05 to address the structural, systemic and operational risks of the market.

According to the annual report of the capital market regulator, promoting Indonext - the new trading platform for small and mid cap companies, implementing T+1 rolling settlement, introduction of real estate fund form part of its prospects for FY 05.

SEBI is also seeking to provide a regulatory framework for hedge funds to participate in the Indian securities markets. Eligibility norms for Indian depository receipts would also be issued this year, according to the annual report.

With respect to broker activity in the exchanges, the report states that Kolkata continues to have the largest number of stockbrokers, followed by the NSE, the OTCEI and the BSE in that order. Ninety per cent of the NSE brokers are active, while only 72 per cent of those in the BSE are active.
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No renewal for Mangalore Stock Exchange
Mumbai: The Securities and Exchange Board of India (SEBI) has refused to grant renewal of recognition to the Mangalore Stock Exchange.

SEBI's investigations of the exchange in August 2003 revealed that the exchange has not complied with conditions on which, the renewal of recognition was granted in 2002. Apart from this, it also observed major irregularities in the functioning of the exchange, specifically non-compliance with the stated investment policies and norms, drain of the exchange's resources, inadequate provisioning of software for trading system and failure to appoint Executive Directors, among others.

"Further, it was noticed that there was huge gap between the resources currently available and the requirements, in terms of manpower, material etc, to function as a stock exchange. There were lapses in its basic functions and instances of non initiation of effective steps for the general functioning and administration of the exchange in terms of the provisions of SEBI directives and circulars," says the order passed by A K Batra, whole-time Member, SEBI.

The order observed that mere existence of a stock exchange, without possessing such essential and basic requirements to function as one, would not have any meaning or serve any purpose towards protection of the interest of the investors and the development of the capital market as a whole.

The order will come into force in 3 weeks.
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