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Sunday, July 25, 1999

Forex Update

Skindia GDR Index loses 61 points
The Skindia GDR Index fell by 61.46 points (6.46%) for the week-ended July 22, after the index touched a new high of 988.13 points for the week-ended July 15.

Carryforward rates rise to 24 per cent on Mumbai bourse
The badla rates firmed up by 300 basis points to trade in the range of 24-24.4% against previous week's average of 21% on the Bombay Stock Exchange. The net long positions rose from Rs 1,350 crore last week to Rs 1,542 crore as net demand for funds increased by 9% this week.

Wheat slips on sluggish upcountry demand; silver up
An easy-to-firm tendency was noticed at the Delhi grains and pulses market. Apprehending government intervention at higher rates, wheat dara slipped by Rs 10 at Rs 680-690 a quintal due to sluggish upcountry demand.





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