Sensex gains 58 points as FIIs play major role
Mumbai: After several days of beating, the premier bourses saw a modest recovery with the leading index, the BSE sensex gaining a modest 58 points and the S&P CNX Nifty of the National Stock Exchange (NSE) gained 16 points.

This was on the back of sustained support from foreign institutional investors (FIIs) who played a major role in changing the sentiment and gave much needed support to the market.

The market opened slightly weaker at 3,634.48, dipped further down to reach the intra-day low of 3,631.29 to finally close at 3,694.82, a gain of 58.50 points.

Nifty also followed suit by gaining 16.25 points and closed at 1177.75 as compared to Monday's close of 1161.50.
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Sebi probe puts the brakes on applications for deemed FII status
New Delhi: The ongoing probe by the Securities and Exchange Board of India (Sebi) has put on hold applications by various broking and investment companies for deemed FII status.

These include applications from First Global, Anand Rathi Securities, Munoth Financial Services Ltd and UTI Investment Advisory Ltd. Top Sebi officials confirmed that the applications would not be considered till the present crisis was resolved.

Commenting on the issue, Sebi chairman DR Mehta said the margin requirements for deemed FIIs were being looked into and a decision would be taken only after the present crisis was over.
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