Lucknow-based NBFC denied registration: A Lucknow-based financial company has been denied the certificate of registration under Section 45 IA of the RBI Act, 1934, by the Reserve Bank of India. The RBI in a release said the application of K D T Mutual benefits Company Limited, Lucknow has been rejected and as such it cannottransact the business of a non-banking financial institution as defined in Clause (A) Section 45 I of the Act.

CSE up on bear covering, bull support: Resuming after a day's break, the Calcutta Stock Exchange on Thursday displayed an improved tone with select shares moving forward in the wake of the bear covering coupled with occasional bull support which helped sentiment. The turnover was moderate and undertone steady. With the rise in prices, the CSE's 40-share index too looked up to close at 1608.83 points - the highest for the day, the lowest being 1592.30 points.

TELCO share leads DSE recovery on aggressive buying: Led by TELCO, shares finished higher on the stock market on Thursday following revival of buying by domestic as well as foreign institutional investors coupled with short-covering. Stock brokers said reports that TELCO increased its production by 70 per cent in October mainly buoyed the sentiments today. However, buying was centred around a few blue-chip stocks. The DSEsensitive index which surged to 643.27 points (intra-session) finally ended 4.15 points higher at 640.16 points.

MSE closes mixed: Select pivotals improved on buying support in the Madras Stock Exchange on Thursday while others moved down to settle with moderate losses. The MSE share price index edged down by 1.36 points to close at 3211.60 against the previous close of 3212.96.

NSE completes 206th settlement: The National Stock Exchange (NSE) has successfully completed its 206th settlement number N1998042 on Friday. The total value of the settlement was Rs 778.26 crore for securities and Rs 155.41 crore in funds. The quantity of securities settled through dematerialised mode was 115.46 lakh valued at Rs 177.32 crore. The pay out was completed and all shortages to the extent of 0.92 per cent were successfully auctioned.

Indian GDR decreases by 0.04 per cent: The Skindia GDR Index, representing GDR's of 18 actively trading companies decreased by 0.04 per cent from 531.79 to 531.60 onNovember 4 as per the Skindia GDR Index with a base January 3, 1995 equal to 1000. The Skindia GDR Index P/E ratio was 14.85 as compared to 14.83, Skindia Finance release said. There were 22 gainers, 12 losers and 26 unchanged as compared to 18 gainers, 12 losers and 30 unchanged on November 3.

Tokyo stocks fall under profit taking: Japanese stocks fell back 1.3 per cent on Thursday on profit taking following the previous day's sharp rally while the market was pressured by dimming prospects of early tax cuts, brokers said. The 225-issue Nikkei average fell 186.44 points to close at 14,341.37, following a 4.1-per cent, 575.06-point surge on Wednesday on the news that US investment bank Morgan Stanley was raising its weighting on Japanese shares.

Malaysian shares up 1.6%: Malaysian share prices closed 1.6 per cent higher on local buying support, boosted by rises in some Asian bourses, dealers said. The Kuala Lumpur Stock Exchange's composite index rose 6.96 points to end at 438.66, off anearlier high of 442.87 points.

Thai shares firms up 2.3%: Thai shares firmed 2.3 per cent on speculative buying in blue-chip issues in trading dominated by local investors, analysts said. Analysts said the market traded in positive territory all day with local retail investors dabbling in banks and finance stocks, generating heavy volume. Late bargain-hunting mainly in finances supported the gains. The Stock Exchange of Thailand (SET) composite index rose 7.97 points to 362.08, while the SET 50 selected index added 0.68 points to 26.50 at the close.

Seoul shares up slightly: South Korea's stock market posted its eighth straight day of gains on Thursday in the most active trading since January, as foreign buyers hunted for large caps and financials. Dealers saw the shift of interest to financials as a sign that foreign investors were coming back to South Korea. The Korea Stock Exchange index closed up 4.73 points, or 1.1 per cent, at 418.20, off a high of 420.46.

Philippine shares close2.8 per cent higher: Philippine share prices closed 2.8 per cent higher on Thursday on foreign buying and a lower than expected October inflation rate, brokers said. The Philippine Stock Exchange index gained 47.51 points to 1,761.60.

Singapore stocks close lower: Singapore share prices closed barely lower, reversing earlier gains. Profit-taking set in after stocks rallied on blue-chip buying on revised weightings for regional markets by Morgan Stanley, and news of the planned merger of the stock and monetary exchanges. The drop in the stock market also affected sentiment later in the day.

Magnum Liquibond mops up Rs 30 cr: SBI Mutual Fund's open-ended income scheme, Magnum Liquibond, has raised around Rs 30 crore in the initial phase of subscription. The scheme, which was launched on October 6 closed on November 5 for initial subscription. ``Being a non-assured return product, getting investors into the scheme was a slightly difficult task but we have managed to come close to ourtarget. As the product is an open-ended one, the performance of the fund will later pull investors into the scheme,'' said the managing director of SBI Mutual Fund, Naimatullah. The scheme had raked in Rs 10 crore till November 4 with the remaining Rs 20 crore coming on the last day of the issue closing.