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BSE to probe volatilityMUMBAI: Bombay Stock Exchange BSE said on Saturday it had decided to investigate the incidence of unusually high ...

BSE to probe volatility
MUMBAI: Bombay Stock Exchange BSE said on Saturday it had decided to investigate the incidence of unusually high volumes and rising prices in several illiquid stocks traded on the exchange.

It said pending such an investigation, four companies had been suspended from trading from January 5-7. These are Alps Infosys, Cauvery Software, Media Video and Sawaca Finance. The exchange was in the process of identifying some more scrips for such measures, it said.

Forex rises
MUMBAI: The country8217;s foreign exchange reserves rose by 450 million to 34.839 billion on December 24 from 34.389 billion in the previous week, the Reserve Bank of India RBI said in its weekly statistical supplement. Loans and advances by RBI to the central government fell to Rs 4,336 crore in the week ended December 17 from Rs 7,951 crore in the previous week.

Loans and advances to state governments rose to Rs 4,102 crore as compared to Rs 3,860 crore in the previousweek.

Voltas trucks
MUMBAI: Voltas Ltd, an engineering company of the Tata group, has launched its DVX series forklift trucks, the result of a pioneering effect in independent and indigenous design by the company8217;s materials handling business division. 8220;Manufactured at Voltas8217; Thane plant, the first ISO 9001 production plant for materials handling equipment, the DVX series offers a number of advances in aesthetics and eco-friendliness in addition to ruggedness and technical superiority.

FII investment
MUMBAI: The last day of trading for 1999 witnessed a net inflow of Rs 99.8 crore from the FIIs. Data released by Sebi, suggests that the Sensex closing of 5000 on December 30 was backed by FIIs. It also indicates that FIIs continue to be positive on the Indian market. On December 30, FII sales were limited to Rs 12.2 crore, while gross purchases were Rs 112 crore.

Railways issue
MUMBAI: The Indian Railways is planning to come out with a debenture issue asthe ministry needed more funds to meet its expense on various projects, according to Union minister of state for railways Bangaru Laxman. quot;Railways need Rs 19,000 crore to complete several works in the country. The ministry does not have funds and hence we are thinking to bring out debentures on the lines of Konkan railway,quot; he said.

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Nasdaq surges
NEW YORK: The irrepressible Nasdaq capped off a year of unprecedented gains on Friday by climbing to its 61st record high and marking the best year ever for any major US Index. The Nasdaq composite index gained 32.12 points, or 0.80 percent, to 4,068.99 marking final record of 1999. The technology-weighted has gained more than 85 per cent this year and surged almost 2,000 points. The broader market also pushed higher to records with the Dow Jones industrial average, which includes two Nasdaq stocks, up 44.26 points, or 0.39, to 11,497.12 and the broader Standard amp; Poor8217;s 500 index up 4.75 points.

Agriinsurance
THIRUVANANTHAPURAM: A major agricultural insurance scheme, covering the whole spectrum of farm produce, is to be implemented from the next rabi season by the centre, according to Union Minister of State for Agriculture Hukumdev Narain Yadav. The scheme would cover all farmers, irrespective of the size of holding.