ISE likely to take-off on December 10: The Inter-Connected Stock Exchange of India (ISE), at its final stages of take-off, has decided to organise a five day training programme for the brokers and members of 11 regional stock exchanges. The exchange is likely to go live from December 10. While awaiting the final clearance from Sebi, which is likely to be received by November 18, the managing director of ICSEI, Joseph Massey, has chalked out a strategic programme to start off mock trading from November 22. The final clearance is the registration of the exchange for the purpose of conducting trading operations. The mock trading has been spread over a period of over 10 days.

Keen contest likely for BgSE directors: A keen contest is likely for the two directors' slots at the Bangalore Stock Exchange (BgSE). The election slated for November 28 has been necessitated following the expiry of the terms of the current BgSE president U B Maiya and vice president Jagdish V Ahuja. According to BgSE officials, three nominations have been received for the two slots. The candidates who have so far filed nominations are Girish N M of Sharavu Securities Pvt Ltd, S M Sanjay of Sanjay & Co and B V N Murthy.

BgSE declares Brisk Securities as defaulter: The Bangalore Stock Exchange (BgSE) has declared Brisk Securities Ltd as a defaulter at the bourse. According to a BgSE release, this follows the Delhi Stock Exchange decision to declare Brisk Securities which has its registered office in Delhi a defaulter earlier. The BgSE has also asked the general public from transacting any business with the company.

Action Financial board to meet on Nov 30: The board of directors of Action Financial Services (India) Ltd will meet on November 30 to consider and approve the audited statement of accounts for the nine months ended March 31, 1998, along with the directors' report and notice convening the annual general meeting.

Aravali Dairy changes name to Siddhi Vinayak: Aravali Dairy & Food Products has changed its name to Siddhi Vinayak Dairy & Food Products wef November 19. An intimation to that effect has been given to the Bombay Stock Exchange.

Shares gain further ground on Lyons Range: Share prices gained further on the Calcutta Stock Exchange on active support from bulls and financial institutions. Selected scrips posted perceptible gains while others hardened with the result that the close showed widespread gains along the specified list with some of the non-specified ones finishing above their previous closing rates. Higher upcountry advices seemed to have provided the prop to sentiment inducing local bulls to create new position aiding the day's rally. The turnover was fair and undertone steadier.

Software stocks lead rally on DSE: After smart buying by software companies at the close of day on Wednesday, share values rose at the Delhi Stock Exchange. The DSE index (base 1983) closed 4.81 points higher at 668.47. Wednesday's rally was led by Software Solutions moving up Rs 17 at Rs 574. Satyam Computer went up Rs 11.35 at Rs 592.60. Silverline moved up Rs 6.30 at Rs 81.20. HCL Infosys rose by Rs 8.50 at Rs 244.50. Pentafour was the only software company which went down marginally by Rs 3.10 closing at 562.90. Carrier went up Rs 14 at 290. Castrol gained Rs 8.75 at Rs 652. Colgate was up Rs 6.75 at Rs 176.25.

MSE closes with moderate gains: Equities moved both ways on the Madras Stock Market and finished with moderate gains or losses on balance. The MSE index, after touching 3331.24 at the end of the first hour, moved down to settle fractionally up at 3328.13 against the previous day's close of 3327.33. TELCO improved by Rs 2.15 to Rs 146.45, while Reliance dipped by rupee one to Rs 120.15. Tisco rose by Rs 3.30 to Rs 94.95. State Bank of India moved up by Rs 2.90 to Rs 164.90. Sathyam Computers rallied by Rs 13.45 to Rs 591.50, Silverline by Rs 3.65 to Rs 78.25 and DSQ Software by Rs 6.20 to Rs 249.20. ITC gained Rs 2.50 at Rs 722.50.

Singapore exchange sets cap on share buy-back price: The Stock Exchange of Singapore (SES) said Wednesday that the price at which companies buy back their shares in the open market should not exceed five per cent of the average trading price over the last five trading days. The necessary legislation to allow share buy-backs was passed by parliament last month. It said a listed company may only launch a share buy-back scheme if it has secured shareholder approval at a general meeting.

Jakarta shares close 3.8 per cent higher: Indonesian share prices Wednesday closed 3.8 per cent higher on the back of the US interest rate cuts, which gave the rupiah a strong boost, dealers said. The Jakarta Stock Exchange composite index closed up 13.768 points at 369.994, Turnover totalled 503.5 million shares valued at 390.419 billion rupiah ($52.7 million).

Thai share prices edge up 0.3%: Thai shares made marginal gains Wednesday, climbing only 0.3 per cent in light trade, despite boosted sentiment from US interest rate cuts, analysts said. Analysts said the index failed to breach resistance at 350 points as investors Turned cautious and activity was muted by new rules limiting net settlement to 20 per cent of daily turnover.

Malaysian shares end 1.2% lower: Malaysian share prices closed 1.2 per cent lower Wednesday as investors squared up their positions at the end of the trading settlement period. ``Investors chose to take profits rather than hold on to stocks bought during last week's strong run-up as the local economic and political outlook remains volatile,'' a chief dealer with a local brokerage said. ``But we expect the market to bounce back pretty soon when local institutions start to window-dress,'' he added. The benchmark Kuala Lumpur Stock Exchange's composite index fell 5.78 points to finish at 458.34, while the lesser second board index lost 1.49 points at 120.95.