SHREE GANESHAY NAMAH !!
| Nifty Weekly Range For The Week 29th July To 02nd Aug 5756 -- 6020 ! Either Side Sustaining Will Give 85 Points More, High 5886, Low 5675.75, Closed 5727.85. | |||||||||
| Stock Updates | |||||||||
| Volumes jump at Financial Technologies (India) counter, ACC, IRB Infrastructure Developers, Multi Commodity Exchange of India and Raymond are among the other stocks to see a surge in volumes on BSE today, 1 August 2013. | |||||||||
| inancial Technologies (India) clocked volume of 45.34 lakh shares by 13:37 IST on BSE, a 28.17-times surge over two-week average daily volume of 1.61 lakh shares. The stock tumbled 58.27% to Rs 226 after the National Spot Exchange, a commodities exchange, on Wednesday, 31 July 2013, said it has suspended trading of contracts, other than e-Series contracts till further notice. Financial Technologies is one of the two promoters of the National Spot Exchange. The National Spot Exchange said it has also decided to merge the delivery and settlement of all pending contracts and deferred the same for a period of 15 days. Consequently, the positions outstanding in the contracts will be settled by way of delivery and payment after expiry of 15 days. The exchange will announce a revised settlement calendar and contracts due for settlement after this 15 days period, it said. | |||||||||
| The National Spot Exchange said that following the directions issued by the Department of Consumer Affairs, Government of India on 12 July 2013, the exchange had given an undertaking to the Government and simultaneously introduced T+10 contracts with Trade for Trade settlements. This was done with a view to ensure orderly participation without creating any negative sentiments in the market, it said. Such structural change has disrupted the market equilibrium as volumes on the exchange have gone down significantly. It created conflicting views in the minds of large number of members that there are certain regulatory issues pertaining to the contracts running on the exchange in view of the government's direction dated 12 July 2013, which has been widely reported in media. This abrupt action has created uncertainty and doubt about continuity of trading on the exchange and hence most of the participants started withdrawing from the market, the National Spot Exchange said. While the exchange has run successfully without any disruption since last five years, such structural change has created market disequilibrium, leading to this scenario, it said. | |||||||||
| The exchange will ensure that the process of settlement takes place in orderly manner and all participants get their rightful dues in accordance with Rules and Bylaws of the Exchange keeping in view the interest of the participants, it said. | |||||||||
| ACC notched up volume of 9.46 lakh shares, a 23.82-fold surge over two-week average daily volume of 40,000 shares. The stock lost 0.35% to Rs 1,167.25. | |||||||||
| IRB Infrastructure Developers saw volume of 28.75 lakh shares, a 8.88-fold surge over two-week average daily volume of 3.24 lakh shares. The stock tumbled 22.28% to Rs 56.50. The stock hit record low of Rs 52.10 in the intraday trade today. | |||||||||
| Multi Commodity Exchange of India clocked volume of 3 lakh shares, a 8.62-fold surge over two-week average daily volume of 35,000 shares. The stock was locked at 20% lower circuit at Rs 512.05. | |||||||||
| Raymond saw volume of 3.99 lakh shares, a 3.39-fold rise over two-week average daily volume of 1.18 lakh shares. The stock rose 1.7% to Rs 188.60. | |||||||||
| courtesy : capital market | |||||||||
