BOURSES / Chidambaram & Damodaran clarify stance on participatory notes to revive sagging sentiments
Bears rouse to action as bulls retreat The great gambol run on Dalal Street seems to have finally lost steam. Market watchdog Securities & Exchange Board of India (Sebi) has, at long lost, looks like has lassoed the blazing bulls in their stride. And, for once, the bears, which had gone into perpetual hibernation, stirred themselves into action in the wake of Sebis sudden move to rein in the unbridled action on the countrys capital markets.
THE MARKET YESTERDAY:SENSEX 18,716 (DOWN 336)
Sensex recoups on FMs note Stock market nearly made up for the 1,744 points it tanked early on Wednesday after the government and regulator SEBI reassured investors there was no move to ban Participatory Notes (PNs) but only to curb funds inflow.
WONDER WHAT TRIPS TRADING?
Its just a circuit breaker dummy Dalal Street, on Wednesday, pulled down its shutters for an hour after an early morning crash as part of the regulators effort to safeguard investors interest from any sudden surge or fall in the market levels.
Sebi says there is no sudden death on participatory notes In a move to calm the investors, stock markets watch-dog Securities & Exchange Board of India (Sebi), on Wednesday, clarified that foreign institutional investors (FIIs) and their sub-accounts could roll-over their PNs (participatory notes) in derivatives market for an 18-month period.
An employee of the Frenzel Oderland-Tiefkuehlkost frozen foods company takes a quality sample of carrots on Wednesday at the company's grounds in Manschnow, Germany. The vegetable coming from the region is treated directly after the crop. This season, the company will handle a total of 6,000 tons of carrots, 120 tons per day. AFP
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