Markets: Sensex down marginally in choppy trade
Mumbai: The Sensex was down 7.6 points at 5,758 while the NSE Nifty index closed up about 0.4 per cent at 1,812.5.

Market Gainers
Bharti TeleVentures, BHEL, HPCL, ICICI Bank, Gujarat Ambuja Cements, Maruti Udyog, Reliance Energy, State Bank of India, Tata Motors, Wipro, Zee Telefilms, NDTV, Patni Computers, Andhra Bank, UTI Bank, Balmer and Lawrie, Bank of Maharashtra, Bank of India, Canara Bank, Chennai Petroleum, Corporation Bank, Dena Bank, GAIL India, Indian Overseas Bank, Kochi Refinery, Shipping Corporation, Syndicate Bank, UCO Bank, Union Bank, Vijaya Bank, M&M

Market Losers
Hero Honda Motors, Cipla, L&T, Dr Reddy's Laboratories, Hindustan Lever, Reliance Industries, Hindalco, Ranbaxy Laboratories, Tata Power, Satyam Computer, Infosys Technologies, Tata Steel, ITC, HDFC, HDFC Bank, Grasim Industries, ACC, Bajaj Auto

Market Counters
Swaraj Mazda down 2.28 per cent at Rs308.72
Shipping Corporation of India (SCI) up 5.5 per cent at Rs161.05
GE Shipping up one per cent at Rs168.15
Sesa Goa gained 6.6 per cent at Rs736.90
Welpsun Gujarat Stahl Rohren up 4 per cent at Rs41.65
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SEBI panel to disclose ten top trading members
Mumbai: The names of top 10 brokers and trading members in terms of trading volumes in each security in the cash and derivative market can now be disclosed by the exchanges.

According to the recommendations of SEBI's advisory committee on derivatives and market risk management, this information may be disseminated with a time lag of seven days on a daily basis.

Committee members in favour of this disclosure believed that it would allow the market to detect attempts by a group of traders to ramp up a stock or to create a false liquidity in the stock.

The top 10 would be computed for each underlying and not for each contract, in order to reduce the information that needs to be disclosed.

The information disclosed under this provision could help the market detect any attempt at a squeeze or corner. When combined with the data about the cash market, it would allow market players to fathom manipulative strategies that straddle the two markets, said the report.

Based on the feedback, these would be further discussed, said the report.
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FIIs and resident investors brought under MAPIN net
New Delhi: The Securities and Exchange Board of India (SEBI) has made it mandatory for certain resident investors and all foreign institutional investors (FIIs) to obtain unique identification number (UIN) under the Market Participants and Investors (MAPIN) database before March 31, 2005.

The MAPIN database, which was launched in November 2003, is aimed at creating an inventory of capital market participants and investors. National Securities Depository Ltd (NSDL) is maintaining the MAPIN database. Already capital market intermediaries and corporates have been directed to obtain UIN under MAPIN before certain specified dates.

Informed sources say that the capital market regulator has now held that resident investors (not body corporates) who enter into securities market transactions of value of Rs 1 lakh or more have to obtain UIN by March 31, 2005 if they are to buy, sell or deal in capital market securities after that date.

The securities market transactions would include any transactions in primary market or secondary market in any listed securities and any transactions in units of mutual funds or collective investment schemes.

The SEBI has held that investors who are "persons resident in India" within the meaning of Clause (v) of Section 2 of the Foreign Exchange Management Act (FEMA) 1999 would be considered as "resident investors".

Similarily, all FIIs, sub-accounts and foreign venture capital investors (FVCIs) have been directed to obtain their UIN under MAPIN before March 31, 2005. Such investors cannot undertake securities market transactions without a UIN from this date, informed sources said.

Resident investors, FIIs, sub-accounts and FVCIs have been held as "specified investors" under the SEBI (Central Database of Market Participants) Regulations 2003.

After a reasonable build-up of data in the MAPIN database, investors are expected to be in a position to view basic information of an intermediary and whether the intermediary is facing any disciplinary action. Further, an intermediary can verify the client identity with the MAPIN database.
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