total of 1,314 stocks hit the lower circuit out of 2,597
to market participants the filters came into action as
large number of traders had leveraged position in most
of the T group stocks. Since they had to pay money, large
scale selling occurred with no buyers. As per market sources
most of these traders have not yet been able to square
of their position and further fall in share prices may
be seen in the next few days.
slips further - securities decline
Mumbai: The rupee depreciated further against the
dollar on Thursday closing at 43.92/9250, lower than Wednesday's
market: The 12-month closed at 0.78 per cent (0.75 per
cent) and the 6-month closed at 0.87 per cent (0.78 per
The 10.25-16 year-2021 paper ended at Rs126.13
(7.40 per cent YTM), lower than Wednesday's Rs126.43 (7.37
per cent YTM). The 7.37-9 year-2014 paper closed
at Rs102.50. (6.98 per cent YTM) against Wednesday's close
of Rs102.68 (6.94 per cent YTM). The 7.38 per cent
10-year benchmark 2015 paper was dealt at Rs102.68
(7 per cent YTM).
rates: The inter bank rate was at 5.10-5.15 per cent
(5.05-5.10 per cent).
repo: In the one-day auction the RBI received and
accepted 22 bids amounting to Rs11,115 crore.
market: 251 trades for Rs12,110.75 crore in the rate
range of 4.85-5.25 per cent.
Six States to raise development loans of Rs839 crore
Mumbai: Six State governments have announced the
sale of 10-year State Development Loans for an aggregate
amount of Rs839.42 crore through a yield-based auction
using multiple price auction method, RBI said in a press
States are: Assam - Rs208.83 crore; Jharkhand - Rs117.81
crore; Kerala - Rs145.81 crore; Maharashtra - Rs290 crore;
Manipur - Rs36.95 crore and Tripura - Rs40 crore.
auction will be held on September 27, and the successful
bidders will have to make payment on September 28.
asks banks to finalise vendors for cheque truncation by
Mumbai: The Reserve Bank of India has
asked banks to finalise vendors for their Cheque Truncation
Systems by October. The system allows transferring the
electronic image instead of a physical movement of the
is likely to begin live testing of CTS in Delhi by January
or February 2006 and roll out the pilot project by March
2006, said Kaza Sudhakar, General Manager and in-charge
of the Products and Developments Division of the Payments
Department, RBI. Sudhakar was speaking at the Banknet
seminar on information technology business benefits in
process of cheque truncation reduces the clearing time
and also cost involved in physically sending the cheques.
said that eventually only two major fund transfer products
will remain, the National Electronic Fund Transfer (NEFT)
for low value or retail transfers and Real Time Gross
Settlement for high value transfers. Other payment types
such as like SEFT (Special Electronic Fund Transfer) would
be migrated to NEFT by December, he added.
also said that banks must have at least one fund transfer
product linked to Real Time Gross Settlement on their
Web sites as electronic fund transfer products work out
cheaper than legacy or traditional products, banks must
charge lesser for these services, he added.
22 September 2005
shifts 850 stocks to T group
Mumbai: The BSE has said that it has shifted 850
scrips in the trade-to-trade (T) segment by way of a surveillance
action imposed on them. This number is in addition to
the scrips that are already under the `Z' group, which
are also settled on trade-to-trade basis.
segment implies that all transactions in the scrip are
delivery based and curtails excessive speculation. The
exchange's trading system also displays a pop-up caution
message at the time of order entry in these scrips.
in a statement, has said that as part of a surveillance
review, all scrips under T segment (including `Z' group)
are attracting 100 per cent margin from August 8. Additionally
all the scrips under this segment attract a reduced circuit
filter of 5 per cent from September 21.
exchange has also suspended 1,369 scrips (since 2000-01)
till date on account of non-compliance with various clauses
of listing agreement.
has also issued show-cause notice to 95 companies for
non-compliance with the provisions of listing agreement.
per cent of FII inflows into markets through participatory
Mumbai: SEBI sources indicate that the share of
participatory notes account for almost 42 per cent of
the US$8.3bn invested by FIIs in the Indian securities
market so far this year. This is up from 24 per cent earlier
FIIs were net investors to the tune of US$8.5bn during
the last calendar year, market sources indicate that the
total investments in the current year may well touch US$12bn
total number of registered FIIs now stands at 782, which
is up from 632 on December 31, 2004. According to market
sources, the new FIIs registered this year are largely
Japanese and Scandinavian investors.
volatile - bonds bearish
Mumbai: The rupee ended a shade lower against the
dollar on Wednesday closing at 43.88, marginally down
from Tuesday's 43.87/8750.
market: The 12-month premium closed at 0.75 per cent
(0.69) and the 6-month premium at 0.78 per cent (0.71).
The 10.25 16 year-2021 paper ended at Rs126.43
(7.37 per cent YTM), lower from the earlier close of Rs126.54
(7.36 per cent YTM). The 7.37 percent 9 year-2014
paper closed at Rs102.68 (6.94 per cent YTM), against
Tuesday's close of Rs102.74 (6.93 per cent YTM). The 7.38
per cent 10-year benchmark 2015 paper was unchanged
from the previous level of Rs102.68 (7 per cent YTM).
rates: The inter bank rates were between 5.05 per
cent and 5.10 per cent (5.10-5.05 per cent).
repo: In the one-day auction, RBI received and accepted
32 bids amounting to Rs14,205 crore.
market: 200 trades for Rs8,278.25 crore in the rate
range of 4.75-5.05 per cent.
182-day T bill `undersubscribed'
The auction of the 91-day treasury bill was fully subscribed,
while the 182-day treasury bills was undersubscribed on
Wednesday, according to an RBI release. The notified amount
for the 91-day treasury bill was Rs4,000 crore, of which,
Rs3,500 crore was under the Market Stabilisation Scheme
RBI received 37 competitive bids, amounting to Rs5635.55
crore. Of these, it accepted 24 bids. The cut-off price
was Rs98.72 (5.20 per cent YTM).
partial allotment percentage amounted to 53.22 per cent
from eight bids. The weighted average price was Rs98.73.
The RBI also received one non-competitive bid amounting
to Rs269.32 crore.
case of the 182-day treasury bill, the notified amount
was Rs1,500 crore, of which, Rs1,000 crore was under MSS.
The RBI received 29 competitive bids amounting to Rs923
crore. Of these, RBI accepted 17 competitive bids, amounting
to Rs528 crore. The cut-off price was Rs97.38 (5.39 per
cent YTM). The weighted average price was Rs97.39.
devolvement on RBI was nil on both bills.
21 September 2005
run at the markets: All T-group stocks in placed in price
band from today
In a bid to check the unabated bull run in the markets,
stock exchanges have tightened the price band mechanism
to curb abnormal movements in share prices. All trade-to-trade
(T-group) and penny stocks have been placed under five
per cent price band from Wednesday.
the T-group, trades in shares will be allowed only on
payment and delivery basis. With this change, more than
1,000 out of some 2,500 stocks traded daily on the BSE
will come under the five per cent price band.
the NSE, more than 125 stocks out of an average of 750
stocks traded will figure in this price band. The NSE
said that till now it has shifted 239 stocks to the T-group
in the last few months.
addition, the exchanges have also brought 39 securities
that had no price band so far, under the 20 per cent price
band from Wednesday.
exchanges are also moving more securities to the T-group
in order to avoid excessive speculation. They are also
suspending trading in securities not complying with listing
Friday, the BSE has shifted 53 securities while the NSE
has shifted eight more stocks. In order to avoid excessive
speculation in companies not complying with the listing
norms, the BSE has suspended trading in 39 stocks from
Thursday, as they have not paid the listing fee for the
NSE in a statement said that till now it has suspended
124 companies for non-compliance of the listing agreement.
It has also suspended trading in three companies and issued
show cause notice to 13 companies for non-compliance with
the provisions of the listing agreement.
allows FII purchases in Mahindra Gesco, Tata Tea
Mumbai: The Reserve Bank of India has notified
that foreign institutional investors (FIIs) can now purchase
equity shares and convertible debentures of Mahindra Gesco
and Tata Tea Ltd under the portfolio investment scheme
equity shares and convertible debentures can be purchased
through the primary markets and stock exchanges up to
30 per cent of the paid-up capital of Mahindra Gesco and
35 per cent of Tata Tea Ltd.
these companies have earlier passed resolutions to this
effect at their board of directors' and general body meetings,
said a release from the central bank.
moves up - securities flat
Mumbai: The rupee strengthened against the dollar
on Tuesday closing the day at 43.87/8750, up from Monday's
Forwards market: The 6-month premium closed at 0.71 per
cent (0.50) and the 12-month at 0.69 per cent (0.40).
The 10.25 16 year-2021 paper closed at Rs126.54
(7.37 per cent YTM) against Monday's level of Rs126.53
(7.36 per cent). The 7.37 per cent 9 year-2014
paper ended at Rs102.74 (6.93 per cent YTM), higher than
the earlier level of Rs102.71 (6.93 per cent YTM). The
7.38-10 year-2015 paper was dealt at Rs102.68 (7
per cent YTM) against the previous level of Rs102.7 (6.99
rates: The inter bank rates opened at 5.10 per cent
and closed at 5-5.05 per cent (5.10-5 per cent).
repo: In the one-day auction, RBI received and accepted
34 bids amounting to Rs17,810 crore.
market: 209 trades, for Rs8,278.25 crore in the rate
range of 4.97-5.15 per cent, were realised.
issues investor advisory as bull run continues unabated
In an uncommon move the Bombay Stock Exchange (BSE)
has issued an advisory for small investors asking them
to be watchful and take due care before investing in the
move by the BSE comes as a follow up to a sharp rise in
share prices with no corrections in evidence. BSE has
taken note of the fact that several penny stocks have
appreciated by as much as 6,000-7,000 per cent over the
last few months.
exchange has advised investors that their trading / investment
strategies should be in line with their risk bearing capacity
as all investments carry risk, the degree of which varies
according to the investment strategy adopted. The exchange
has told investors to be cautious about stocks, which
show a sudden spurt in price or trading activity, especially
low price stocks while pointing out that there are no
guaranteed returns on investment in stock markets.
Stock Exchange to re-launch Nifty futures
The Singapore Stock Exchange (SGX) will re-launch
trading in the CNX Nifty futures from October 10.
to a SGX note, the Nifty futures will have a smaller contract
size on its platform - SGX Quest "to help facilitate
active trading and encourage greater market participation".
new contract will provide margin savings in the form of
inter-commodity spreads for SGX equity contracts between
the CNX Nifty Index and MSCI Taiwan Index, Nikkei 225
Index and MSCI Singapore futures contracts, the note said.
Tey, senior vice-president and head of International Products,
at SGX said, "The sentiment towards India's growth
potential has been positive and our market participants
are enthusiastic about the SCX Nifty contract. This is
an opportune time given the recent signing of the Comprehensive
Economic Co-operation Agreement by India and Singapore".
weak - securities dull
Mumbai: The rupee ended at 43.90/91, slighter lower
than Friday's close of 43.87/88.
market: The 12-month premium ended at 0.40 per cent
(0.65 per cent) and the 6-month premium closed at 0.50
per cent (0.65 per cent).
The 10.25-16 year-2021 paper closed at Rs126.53
(7.36 per cent) against the earlier level of Rs126.44
(7.38 per cent YTM). The 7.37-9 year-2014 paper
closed at Rs102.71 (6.93 per cent), up from the previous
level of Rs102.66 (6.95 per cent). The 7.38-10 year-2015
paper was dealt at Rs102.7 (6.99 per cent), against the
earlier level of Rs102.40 (7.04 per cent YTM).
rates: The inter bank rates opened at 5.10 per cent
and closed at 5 per cent (4.95-5.05 per cent).
repo: In the one-day auction, the RBI received and
accepted 35 bids amounting to Rs18,945 crore.
202 trades for Rs8,278.05 crore in the rate range of 4.95-5.25
per cent, were realised.