Pune bourse in network
Pune: The Pune Stock Exchange will commission its first phase of a wide area network by 30 September 1999. It will offer intra-city connectivity using the local telephone network.

The second phase of the connectivity, which involves extension of the scope of its business to eight cities outside Pune, will pave the way for the exchange to evolve into a full-fledged regional stock exchange.

About 50 brokers of the exchange have applied for the intra-city network. Roughly the same number will be located in the exchange building. The intra-city network is estimated to cost the exchange an amount of Rs 50 lakh.
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DSE to take action against SRG Infotech
New Delhi: The Delhi Stock Exchange has decided to take action against SRG Infotech on the ground that the company used the media to distort the market and mislead investors, while flouting the listing agreement.

The DSE will suspend trading in the SRG scrip from 12 July for a week. The suspension of trading will have an adverse impact on the company as this fact will have to be stated as one of the risk factors in the prospectus in case the company comes out with a public offer in future.
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SBI Caps in broking business
Mumbai: SBI Capital Markets has decided to enter into the broking business after buying trading cards of the Bombay Stock Exchange and the National Stock Exchange held by SBI Securities.

The Asian Development Bank has advised that SBI Securities should not handle broking as financial intermediaries worldwide are moving towards universal banking. It suggested a merchant banking unit, possibly SBI Capital Markets, should handle this. The Asian Development Bank is to take an equity stake in SBI Securities.
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Dow at all-time high
New York: US stockindex indicator Dow Jones closed at an all-time high of 11,193.70 on 9 July, up 66.81 points, propelled by an upsurge in blue chips and technology issues, as investors expressed optimism about corporate earnings for the second quarter.

The technology-heavy Nasdaq raced ahead to its third consecutive record close adding 21.20 points to end at 2,793.06. The Standard & Poor's 500-stock index too gained 8.86 point, to close at a record 1,403.28.
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