Trading in dematerialised shares is set to take off in a big way in Bangalore. According to estimates, there has been an overwhelming response to the signing up programme by various dealers with rough estimates of around 6,000 odd accounts being opened in the last two-three months alone. The number is expected to go up further and the benefits will start coming in once the Bangalore Stock Exchange (BgSE) formally commences trading in demat shares, say marketmen.

The biggest surprise has been the enthusiastic response from small investors. With the Sebi order making it mandatory for trading in 10 shares in demat form, most of the investors have already opened depository accounts, they add.

ASSOCHAM seminar on Capital Markets:

Limiting the number of merchant bankers on Sebi's roll, setting up of audit committee by every listed company, enpowering banks to extend liberal loan against security affairs will be debated at the seminar on``Towards ResurgentCapital Market.'' The seminar, jointly organised by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) and association of NSE members of India, will be inaugurated by finance minister Yashwant Sinha and participated by representatives of corporate houses, institutions, stock exchanges and government officials.

Circuit filter in APR:

The Bombay Stock Exchange has decided to impose daily circuit filters on the equity shares of APR Ltd wef September 18. The daily circuit filters will be made operative on a base price of Rs 17. The stock was last traded on the BSE on July 30 at Rs 29.45, however it is currently traded at Rs 17 on other stock exchanges, hence the base price has been fixed at Rs 17.

Additional volatility margins:

The Bombay Stock Exchange has decided to impose additional volatility margin on the purchase positions of the following stocks wef September 18: American Remedies (30 per cent), Colour Chem (20 per cent), Fulford (India) (20 per cent), GodfreyPhilips India (30 per cent), IBP Co (30 per cent), ITC Hotels (20 per cent), Lakshmi Automatic Loomworks (30 per cent), Madras Aluminium Co. (30 per cent) and Nedungadi Bank (20 per cent).

IBP, ONGC record handsome gains:

Two oil scrips dominated the entire week at the stock exchanges. IBP, the stand-alone oil marketing company, saw its share price move up nearly 35 per cent in barely four days.

The ONGC counter registered a sharp rise in the price band. IBP closed on Friday at Rs 131, a steep hike from the previous week's close of Rs 99. For the first time in the history of the stock on the local bourses, ONGC moved with a price spread of over Rs 7, with the stock trading in the band of Rs 198.75 and Rs 204.65, the intra-day's low and high respectively on September 16. In the case of IBP, the market was rife with rumours that Reliance Petroleum would be the strategic partner in case of government disinvestment.

SBI AMC plans short-term debt fund:

The SBI Asset Management Companyplans to join the bandwagon of open-end liquid funds. The mutual fund arm of State Bank of India has filed the offer document with the Securities and Exchange Board of India for the launch of a short-term debt fund, christened Magnum Liquid. Unlike other short-term debt funds, the scheme attempts at providing a mix of short and long term securities.

Earlier, JM Mutual Fund had also offered growth and dividend plans under its short-term debt fund. The growth plan, with its 90 per cent investments in debentures, has given an average return of around 13 per cent which is in line with other bond funds. ``We have filed the document with Sebi and hope to get the clearance soon.

The scheme will target treasury managers and may be initially launched in select cities,'' said Niamatullah, head of SBI AMC. The minimum investment has been kept at Rs 10,000.

Closed-end Bargains:

Even as open-end funds are become the order of the day, their closed-end counterparts are as charming as ever for bargainhunters and alert investors. They trade like stocks and earn good returns. Although they are not as convenient as open-end funds with almost instant liquidity, if you pursue a reasonable closed-end fund, you are most likely to hit a jackpot. Of course, you have to forego the merits of systematic investment and withdrawal plans, dividends reinvestment, and more sophisticated products like umbrella funds. There are more than one ways to pick up closed-end funds. One is to buy a fund trading at a tangible discount, coming close to redemption. The second is to buy a discounted fund that you think stands a chance of being made open-end.

Investment options galore:

After a long gap, the week beginning September 21 will throw open investment opportunities for both equity as well as debt investors. While UTI Bank is coming out with a Rs 31-crore equity issue priced at Rs 21 on Monday, South Indian Bank's Rs 51-crore maiden issue priced at Rs 32 opens for subscription on the following day. Close on theheels of the ICICI's safety bond issue, IDBI's Flexibond-4 also opens on Monday.

Smart recovery:

Both the precious metal values recovered smartly at the local bullion market today due to fresh seasonal demand at lower level and less offering. Ten tola gold price shot up by Rs 400 and touched Rs 50,000 on sustained heavy buying support induced by forthcoming Dassera- Diwali festival induced by bullish overseas and upcountry advices. Standard mint gold and 22 carat also gained by Rs 25 and Rs 20 to Rs 4245 and Rs 3925 per ten GM in sympathy. Silver .999 and raw prices also hiked modestly by Rs 35 and Rs 45 to Rs 7535 and Rs 7395 per kg respectively on fresh seasonal demand from local dealers and reduced ready stocks.