Online edition of India's National Newspaper
Tuesday, Oct 23, 2007
ePaper
Online edition of India's National Newspaper Tuesday, Oct 23, 2007 ePaper |
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MUMBAI: The benchmark Sensex on Monday ended 54 points higher in highly volatile trade, salvaged by investors’ interest in banking stocks ahead of Reserve Bank’s October 30 review of the monetary policy. The Bombay Stock Exchange Sensex moved between 17704.83 and 17171.45 before ending the day at 17613.99, a net rise of 54.01 points over Friday’s close. The Sensex had lost 1599.69 points or 8.39 per cent in last four sessions after the Securities and Exchange Board of India brought out a discussion paper with a proposal to curb participatory notes (P-notes), an investment tool used by foreign investors not registered with the regulator. The S&P CNX Nifty of the National Stock Exchange, however, fell by 31.30 points to close at 5184. High volatility was largely attributed to approaching expiry of derivatives series, which forced investors either to roll over positions to next series or square-off positions before the end of the contract on October 25. Reports that the SEBI is considering a proposal to allow proprietary sub-accounts to issue P-Notes had a soothing impact on the market. — PTI
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