Indian markets breathing down the necks of global majors
Mumbai: In the period January to August 1999, the Bombay Stock Exchange has achieved the distinction of being the fifth fastest growing stock market in the world. It has grown by over 50 per cent according to a report in The Economic Times. Top of the chart is the Russian market, which has grown by 152 per cent, followed by Turkey at 118 per cent, Greece at 78 per cent and Korea at 63 per cent during the same period.

ITC, Castrol and Tata Tea have been identified as the most liquid stocks in the Indian market. This measurement of liquidity on the basis of impact cost – the cost of executing a trade – has been the lowest in these three stocks.
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ICICI’s new AMC may result in revenue loss for government
Mumbai: ICICI's plan to float a new mutual fund scheme through an asset management company for buying debt from financial institutions will result in a loss of tax revenue for the government. According to a report in The Economic Times, securitisation through mutual funds will result in loss to the government because mutual funds are given tax exemption.

Retail investors are not going to benefit from this ICICI move, but institutional buyers, who will be designated ‘qualified institutional buyers’ by ICICI, may benefit.
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BSE proposes daily badla system
Mumbai: The Bombay Stock Exchange has written to the Securities and Exchange Board of India seeking permission to introduce a daily badla system which will work well with a rolling settlement mechanism. This will mean netting off of outstandings on a daily basis. Sebi is yet to take a decision on the matter.
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WWF to list on Nasdaq
New York: Fake fight shows organised by World Wrestling Federation Entertainment, popularly known as WWF, have been valued at $1 billion. The company has done this valuation to get itself listed on the Nasdaq Stock Exchange.

The star performers who fake at the WWF shows are The Undertaker, Hardcore Holly, and Stone Cold Steve Austin. Their value, combined with that of the personal shareholding of around $850 million of Vincent and Linda McMahon, founders of WWF, has been fixed at $1 billion.
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