Sensex makes U-turn
Mumbai : The Bombay Stock Exchange Sensex, which was on the decline for the past few weeks, made a sharp U-turn on Monday, rising 220 points.

The turnaround came after buying support from domestic financial institutions, particularly Unit Trust of India. Foreign institutional investors also pitched in as net buyers. Pharma and infotech stocks like Infosys, NIIT, Ranbaxy, Satyam, Zee Telefilms saw the highest buying activity
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ISE to extend reach
Mumbai: The Interconnected Stock Exchange is offering an extended reach to its members, including membership on the much larger National Stock Exchange and Bombay Stock Exchange. The ISE is negotiating with leading private sector mutual funds to offer trading facilities in the funds' open-ended schemes, and will also start marketing IPOs through its traders.

The ISE has embarked on a dealership enrolment drive across 25 cities, and expects to enrol 200 dealers in Mumbai alone by the end of November 1999. Dealership on the NSE is expected to give the dealers a national level reach of 15 exchanges as well as access to NSE and BSE through the ISE. Operating through the ISE also gives them the advantage of a decentralised clearing and settlement support in the regional markets.
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CSE to have financial subsidiary
Kochi: The Cochin Stock Exchange is planning a financial subsidiary to offer depository participatory services and to network with the Bombay Stock Exchange and the National Stock Exchange. The subsidiary will start with a capital of Rs 5 crore.

The linking with the BSE and NSE is meant to provide a platform to member brokers, who would benefit from reduced costs and higher volumes.
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