BSE sensex loses 150 points
Mumbai: As settlement day approached, unabated selling pressure coupled with the slow-down in investment by FIIs' resulted in the BSE sensex losing 150.04 points to close at 5,738.27. The NSE index also lost some of its sheen by losing 40.55 points to close at 1,699.55.

While Infosys, Satyam Computers, HDFC Bank, Global Telesystems and ICICI Bank hit the upper circuit, Wipro, Digital Equipment, VSNL and Crest Communications were some of the scrips that hit the lower circuit.

The advances and decline ratio were in favour of losses. On the BSE there were 121 declines and only 17 gainers. In the B1 and B2 categories of the BSE, there were 664 and 658 declines respectively as compared to the 193 and 476 gainers respectively. At the NSE there were 36 declines as compared to 14 gainers.
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SEBI recommends OTCEI as exit route for venture caps
Calcutta: As more and more venture capital firms are investing large amounts in start-up ventures, SEBI has approved the floating of an alternative investment market with the Over The Counter Exchange of India (OTCEI). This, it is believed, will provide venture capitalists with much needed exit route for its investments in start-ups.

Similar markets for technology and knowledge based scrips exist in developed countries, and if SEBI's experiment with the OTCEI succeeds it may replicate the same across other exchanges in the country.
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Domestic mutual funds see their assets zoom
Mumbai: The domestic mutual fund industry saw the assets under its management cross a historic Rs. 100,000 crore mark as of end-January 2000. The lion's share of this increase was taken by UTI which managed to mop up Rs. 67,144 crore.

January was also the month when all categories of mutual funds saw a net positive inflow of funds.

In terms of category break ups, income funds mopped up Rs. 47,279 crore, growth schemes accounted for Rs. 23,313 crore, liquid funds for Rs. 1,680 crore, money market funds for Rs. 276 crore, gilt schemes for Rs. 2,209 crore and equity linked schemes for Rs. 2,779 crore.
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