Sensex up in the throes of active buying
Mumbai: For the third successive day, robust buying from foreign institutional investors across the board sent the BSE sensex soaring upwards to gain a respectable 126 points. Reports that the Finance Bill 2001-02, which has a host of measures to boost the equity markets, would be passed in Parliament shortly also acted as a key trigger for Wednesday’s smart rally.

On the National Stock Exchange (NSE), the S&P CNX Nifty settled 1103.40, up 36.40 points.

The sharp rally was made possible by technology stocks which have sprung back into action on firm Nasdaq trends. Furhter, better-than-expected results from chipmaker Intel followed by its upbeat outlook for next quarters acted as a big booster to technology stocks across-the-globe.

With this rally the sensex closed at 3,439 points. With Wednesday’s gains, the Sensex rebounded 255 points in the past three trading session.

FIIs picks included Infosys, Wipro, Satyam, Reliance, Grasim, Polaris Software, Zee Telefilms, Aptech and MTNL.
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Sebi likely to bar key players from broking
Mumbai: With the capital markets regulator, Securities and Exchanges Board of India’s, (Sebi) report on the investigation of the recent stock market crisis nearly ready, there are all indications that the major players in the recent drama may be banned from the broking business.

If this is, indeed, true the brokerage arm of Credit Suisse First Boston, Shankar Sharma’s First Global and top broker Nirmal Bang will be barred from undertaking any fresh broking business till further orders for their alleged involvement in market manipulation. It is understood that Sebi will convey its decision to the entities on Thursday.

The regulator, however, is yet to decide on the action to be taken against R S Damani, who figures in the Sebi report.
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