Call money rates catapult to all-time high of 140%
The Reserve Bank of India's (RBI) tight money policy, announced on January 16, played havoc in the overnight call money market yesterday with interest rates breaching all barriers to touch an all-time high of 140%. Exactly a month back -- on December 18 -- the call rates had peaked at 50% on account of sudden tightness in the money market due to outflows.
No plan to hike IDBI's flexibond issue coupon
The Industrial Development Bank of India (IDBI) on January 17 said that the coupon on its forthcoming Rs 1,500-crore flexibond issue will not be hiked despite the two percentage points increase in the bank rate. The institution will launch the third series of flexibond on the scheduled date -- January 23.
Skindia GDR index touches 52-week low
Mirroring a continuous price erosion witnessed by the GDR stocks, the Skindia GDR index slumped to touch a new 52-week low of 756.34 points on January 12. The index recorded a net loss of 10.51% to close at 778.56 points against its previous week's close of 870.04 points recorded on January 8.
Carryforward rates continue to hover around 9%
Carryforward rates on the Bombay Stock Exchange (BSE) continued to hover in the narrow band of 9-13% annualised for a net outstanding position valued at Rs 344.28 crore. The total outstanding position of carry forward was of a value of Rs 381.22 crore, with the purchase position valued at Rs 362.82 crore and sales carryforward position valued at Rs 164.35 crore.
Upsets in Asian markets depress East Europe bourses
East European stock exchanges retreated this week, with investors scattering to the sidelines after taking fright from falls at the outset on turbulent Asian markets. But long-term sentiment throughout the region remained positive, with tension in Asia unlikely to drive investors away.
Bourses must check companies' credentials before listing: Somaiya
It should be mandatory for all the stock exchanges in the country to examine a company's credentials before it is listed, Investors Grievances Forum (IGF) president Kirit Somaiya said. The failure of regulatory authorities notwithstanding, the stock exchanges should be held equally accountable for investors' loss of faith in capital markets, he said.
