Sebi has suspended ABS Share & Stock Brokers (formerly BS Lakhotia) and HB Relan, a member of the Delhi Stock Exchange, for a period of one month with effect from July 6 and June 29 respectively. The brokers have been suspended for not reporting off-market transactions to the exchange and delaying the rectification of bad deliveries. ABS has also been suspended for dealing with unregistered sub-brokers, delay in delivery of securities to the clients, non-redressal of clients' complaints, failure to maintain clients' account and misusing the stock exchange mechanism.

Sebi calls BSE officials: Sebi's investigation into the recent happenings on the BSE reached an interesting point when senior officials of BSE were called to participate in the probe. Although senior officials of Sebi refused to divulge details, the market was agog with rumours that 7-8 brokers are on likely to be on Sebi's hit list.

Sebi suspends DSE member: Sebi has suspendedYadav & Co, a member of the Delhi Stock Exchange, for three months with effect from June 30. The member has been suspended for indulging in price manipulation and creation of false market in the scrip of MS Shoes (East) in order to prop up the share price in collusion with the promoters of the company. The member has also been suspended for non-issuance of contract notes in the prescribed format, failure to maintain proper books of accounts and non-payment of stamp duty on the contract notes.

Sebi suspends Tedco Investment: Sebi has suspended the certificate of registration of Tedco Investment and Financial Services, a category II merchant banker, till the remaining period of its registration on account of its failure to pay the annual registration fee.

Barings revises offer for BFL Software: Barings India Investments Private Equity Fund, the company sponsored by ING Group of Netherlands, has made a second open offer to acquire 20 per cent of the equity of Bangalore-based software companyBFL Software at a price of Rs 175 per share. The earlier open offer, which closed on June 8, was pegged at Rs 135. The open offer is scheduled to open for participation by the public on August 5 and will close for subscription on September 3.

Caspian Securities to close shop: Caspian Securities has decided to close down its Indian operations. Following the decision, the Indian arm of the FII -- Caspian India Research -- which currently holds a 25 per cent stake in the joint venture with CJ Dalal & Sons, a BSE broker, is also being offered for sale. The Caspian group has said that it was closing down its Indian operations because of high operating costs combined with the depressed state of the emerging markets.

Nifty loses 8 points: Pivotals reacted on the NSE on Friday due to fresh bull liquidation and selling by foreign funds. The NSE-50 index settled at 924.35 points, losing 7.80 points over the last close. The Nifty Mid-cap Index closed at 1,331 points, down 7.65 points. The totalturnover on the exchange stood at Rs 808.39 crore. The total buy value of FIIs stood at Rs 19.21 crore and the sell value at Rs 14.11 crore. The buy value of FIs/MFs was Rs 5.77 crore and the sell value was Rs 4.66 crore.

MSE Index down 15 points: Equities fluctuated in a narrow band at the Madras Stock Exchange on Friday. The MSE Share Price Index finished at 3,708.85 points, down 15.22 points over the previous close. ITC declined by Rs 15.30 to Rs 640.40, Reliance by Rs 4.20 to Rs 143.60 and State Bank of India by Rs 3.80 to Rs 208.95. L&T, however, rose by Rs 2.60 to Rs 223. Software scrips witnessed hectic activity.

Profit-taking pares gains on DSE: Shares ended lower on the Delhi Stock Exchange on Friday despite reports that the government would shortly allow buyback of shares by companies after making the necessary amendments. Profit-booking checked further advances in share prices. The DSE Sensitive Index settled at 691.68 points, losing 6.19 points.

Skindia Index up 4.45%:The Skindia GDR Index improved by 4.45 per cent from 611.10 to 638.28 on June 25. The Skindia GDR Index p/e ratio was 15.66 on June 25 compared with 14.78 on June 24. The top gainers were Indian Hotels, MTNL and VSNL which quoted at $8.00 ($7.25), $9.75 ($8.90) and $10.40 ($9.50) respectively. Losers included Telco (2nd), Telco (1st) and Indo Gulf.

Call rates end unchanged: The overnight rates moved in a narrow range on Friday. The call money rates opened at 7.60-7.75 per cent, compared with their previous close of 7.00-7.25 per cent. For the most part of the day, the rates ruled at 7.50-7.75 per cent. However, in the afternoon, they eased to finally close at 7.00-7.25 per cent.

Rupee strengthens vs dollar: The rupee gained by 10 paise to settle at 42.62/64 on Friday against the dollar, compared with its previous close of 42.72/74. The State Bank of India's late dollar selling in a lacklustre forex market saw the rupee appreciate. The rupee opened at 42.72/74, but soon weakened by 5 paiseon speculative demand.

Silver, gold gain lost ground: Silver and gold prices recovered on the bullion market on Friday following poor supply coupled with higher overseas advices. Ready silver of .999 fineness and tenderable silver gained Rs 60 each to close at Rs 7,955 and Rs 7,960 respectively. Standard and 22-carat gold recovered by Rs 15 each to close at Rs 4,280 and Rs 3,960.

Cotton steady: Cotton prices held steady at the local cotton market on Friday on restricted activity. Demand was noted for qualities like S-4, 797, wagad, Y-1 and Mech, with 5,000 bales changing hands.

Groundnut oil prices fall: Groundnut oil prices suffered a sharp setback on Friday following poor supply from producing centres. Groundnut oil rallied by Rs 12 to close at Rs 487. Groundnut bold remained steady at Rs 2,040. Palm oil recovered by Rs 3 to end at Rs 375. In the non-edible section, linseed oil recovered by Rs 15 to end at Rs 445. Castorseed September contract closed unchanged at Rs 1,431.