In a bid to give a boost to corporate governance, Sebi has directed all stock exchanges to set up automated cells to monitor compliance of companies with their listing agreement. The capital market regulator has issued directives to this effect last week. The move gains significance as Sebi relies on the listing agreement of companies with stock exchanges for making them observe norms of disclosure to investors.

ICSI president in Sebi committee: Virender Ganda, president of the Institute of Company Secretaries of India (ICSI) has been nominated by the Securities and Exchange Board of India (Sebi) as a member to the committee on corporate governance set up under the chairmanship of noted industrialist Kumarmangalam Birla. The committee will suggest measures to strengthen corporate governance which is of great importance for the efficient working of the securities market and investor protection. The committee will also work out a code of corporate bestpractices. It will deal with insider information and the disclosure and safeguards needed to be instituted within companies against insider trading, says a Sebi release.

CSE closed on April 14: The Calcutta Stock Exchange will remain closed on April 14 on account of BR Ambedkar's birthday. It will be open on the following day which is the last day of settlement no. 9900104. Badla trading shall be on April 15, 1999. The securities pay-in for settlement no 9900103 (both demat & physical) will be on April 16, 1999, securities pay-out (demat & physical) will be on April 19, 1999. Funds pay-in will be on April 17 while funds pay-out and auction will be on April 19.

Political drama calls for greater vigil: The undercurrent of positive market sentiment notwithstanding, the unnecessary dragging on of the political crisis is beginning to tell on the mood of the foreign investors who are beginning to feel the jitters. But when one considers the fact that the ruling coalition has now decided on life(or death) beyond its troublesome southern ally, there could be a major rally at the bourses in case it survives this political crisis.

OTCEI completes 24th settlement: OTCEI has completed its 24th settlment since re-launch of trading in the permitted securities segment with weekly netting.