Sensex can touch 19,500 level this year

(26/5/09 SENSEX futures) - Driven by the election outcome, the benchmark index Sensex could catapult to 19,500 level this year, provided the government pushes through the reform agenda, analysts said.

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Market experts believe that the reforms expected to be carried out by the new government may keep the market sentiment upbeat and propel the index to regain the levels, it had seen in 2007, in the months ahead.

"Our upside target for the Sensex is 19,500 this year which the index may climb if the government surprises us with a phenomenal budget," Morgan Stanley Managing Director Ridham Desai said in an investor summit arranged by a television channel here.

However, more probability for the index is to remain in mid-15,000 levels or about 10 per cent higher than current levels, he said.

The financial sector reforms which are there before the government include raising FDI cap from present level of 26 per cent from 49 per cent through amendment in Insurance Act, pension reform and banking sector reforms.

SENSEX | NIFTY at closing - May 2009 daily updates

The post provides closing rates details of BSE (Bombay Stock Exchange) , NSE (National Stock Exchange) on per day basis.

For world markets updates : Click here and for US markets updates : Click here.

BSE | NSE rates at closing for may 2009 are published below :

all enteries are in chronological order -

PS - rates in red color show declines and green color show advances in closing price

the format of enteries is as follows:

Index name | Closing price | Change wrto previous close | Remarks/views

28/5/2009 - WEDNESDAY - BSE | NSE closing rates:

SENSEX | 14296.01 | 186.37 | Up^186.37
NIFTY | 4337.10 | 61.05 | Up^61.05

27/5/2009 - WEDNESDAY - BSE | NSE closing rates:

SENSEX | 14109.64 | 520.41 | Up^520.41
NIFTY | 4276.05 | 159.35 | Up^159.35

26/5/2009 - TUESDAY - BSE | NSE closing rates:

SENSEX | 13589.23 | -323.99 | Down(-323.99 pts)
NIFTY | 4116.70 | -120.85 | Down(-120.85 pts)

BSE closing - remains flat as midcaps gain

Oil shares reacted to reports that the new UPA government planned to cap profits of crude producers such as ONGC, Oil India, Reliance Industries and Cairn India as part of a transparent and sustainable subsidy-sharing system for the sector.

The proposal to levy a special oil tax was part of the recommendations of the BK Chaturvedi Committee, appointed to look into oil pricing as a replacement for the current subsidy-sharing plan that has been criticised for its lack of transparency.

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Bombay Stock Exchange’s Sensex ended at 13,913.22, up 26.07 points or 0.19 per cent. The index touched an intra-day low 13819.25 and high of 14028.06. National Stock Exchange’s Nifty closed at 4237.55, down 0.95 points or 0.02 per cent. The broader index touched a high of 4270.05 and low of 4205.10. Market breadth on BSE showed 2,470 advances against 316 declines.

The BSE Midcap Index closed 2.83 per cent higher and BSE Smallcap Index gained 5.01 per cent. Shares of distilleries and breweries companies were in demand. Balaji Distilleries was up over 12 per cent, United Breweries was locked at 20 per cent circuit and United Spirits gained 8.14 per cent.

Action was also seen in gems and jewellery space. Gitanjali Gems surged 19 per cent, Rajesh Exports gained 10 per cent and Su-raj Diamonds advanced 14 per cent.

BSE Realty Index was up 4.25 per cent, BSE Healthcare Index gained 2.83 per cent and BSE FMCG Index moved up 2.73 per cent. The only sector that continued its losing streak was the technology pack with BSE IT Index down 0.89 per cent.

Major losers today include Bharti Airtel (-5.41%), NTPC (-1.66%), HDFC (-1.63%), Grasim Industries (-1.63%) and ACC (-1.06%) were amongst the Sensex losers.

The biggest Sensex gainers were Ranbaxy Laboratories (20.73%), Jaiprakash Associates (7.16%), Sterlite Industries (5.94%), DLF (5.42%) and ITC (3.6%).

FIIs pull back Rs 761 crore from indian share markets

Foreign institutional investors (FIIs) on Friday sold shares worth Rs 761.66 crore in the domestic stock markets, even as the benchmark indices ended in positive zone.

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FIIs were the gross sellers of shares worth Rs 3,150.35 crore, while they bought stocks valued at Rs 2,388.69 crore resulting in a net sale of Rs 761.66 crore, as per the provisional data available with the Bombay Stock Exchange.

However, domestic institutional investors were bullish and made a net investment of Rs 434.53 crore in stocks.

On Thursday, FIIs had made a net investment of Rs 146.90 crore in the Indian stock markets, according to the latest data available with the Securities and Exchange Board of India (SEBI).

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During the week, FIIs pumped in over Rs 6,000 crore in the domestic markets, which includes a record investment of over Rs 5,000 crore in a single day.

In today's market, proprietors and non-resident Indians (NRIs) made a net investment of Rs 111.98 crore and Rs 0.43 crore in shares, according to the BSE data.

BSE Launches Currency Derivatives Certification Examination for NISM

BSE Launches "NISM-Series-I: Currency Derivatives Certification Examination (NISM-Series-I: CD Examination)" as Test Administrator of National Institute of Securities Markets (Established by Securities and Exchange Board of India).

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In pursuance of the announcement made by the Finance Minister in his Budget Speech in February 2005, Securities and Exchange Board of India (SEBI) established the National Institute of Securities Markets (NISM) in Mumbai.

NISM brings out various publications on securities markets with a view to enhance knowledge levels of participants in the securities industry.

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NISM is mandated to develop and implement certification examinations for professionals employed in various segments of the Indian securities markets.

Bombay Stock Exchange Ltd has been appointed as Test Administrator by NISM for conducting "NISM-Series-I: Currency Derivatives Certification Examination (NISM-Series-I: CD Examination)".


source www.bseindia.com

SEBI's fund to protect investors is operational now

SEBI's fund to protect investors is operational now.

After the delay of almost two years, market regulator SEBI has operationalised the fund to protect and spread awareness among investors, including giving help to investor associations in legal matters against listed entities.

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"There shall be a fund to be called the Investor Protection and Education Fund," regulations notified in official gazette stated here.

The fund has been set up with retrospective effect from July 23, 2007. SEBI had, by way of an executive order, created the fund on July 23, 2007 by crediting an initial corpus of Rs 10 crore out of the SEBI General Fund.

"The fund shall be utilised for the purpose of protection of investors and promotion of investor education and awareness," SEBI regulations said.

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According to the regulations, the fund can be used for aiding investor associations recognised by the SEBI to undertake legal proceedings in the interest of investors in securities, which are listed or proposed to be listed.

However, such an aid must not exceed 75 per cent of total expenditure on legal proceedings. Also such aid must not be considered for more than one legal proceeding in a particular matter.

Small Caps and Mid Caps perform better then SENSEX

(20/5/09 - SENSEX updates) - The mid-cap and small-cap indices today significantly outperformed the benchmark index Sensex with as many as 117 small-cap stocks and 14 mid-cap stocks touching their upper circuit limits at the Bombay Stock Exchange.

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The BSE mid-cap index gained over six per cent to settle at 4,673 points, while the small-cap index ended up 8.86 per cent at 5,208.18 points.

According to the data available on the BSE website, as many as 117 stocks from the 465 shares in the small-cap index and 14 stocks out of the total of 221 shares in the mid-cap index hit their respective upper circuit limits today.

"Investors are making value buys into midcaps and small-cap stocks which have turned attractive, while the blue chip stocks became overbought and witnessed profit booking today," Geojit BNP Paribas Financial Services Research head Alex Mathew said.

The 30-share bellwether index Sensex today lost 241 points to close at 14,060, after touching an intra-day high of 14,405.51.

Some of the mid-cap shares which surged and got struck in their upper limit include --realty firm Omaxe (gained 20 per cent), Godrej Industries (10 per cent), Akruti City (5 per cent), Indiabulls (5 per cent) and KEC International (10 per cent).

The mid-cap and small-cap indice track the performance of companies with relatively smaller market capitalisation than the blue chip firms.

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The circuit limits, both upper and lower, are set by the exchange from time to time as a price containment measure beyond which trading would not be allowed in a scrip till the prices are normal or limits are reset.

The circuit limits in stocks are set for a particular scrip by the exchange to limit their movement to five per cent, 10 per cent and 20 per cent, either up or down.

The circuit limits are set to regulate manipulative or one way price drugging of particular shares mainly having smaller marketcaps.

The small-cap stocks which hit their upper circuit limits include- Raymond Ltd , Unity Infra, Bharati Shipyard, Madhucon Projects and United Breweries Holdings.

BSE | NIFTY surges 17 perc and 17.5 perc resp

Trading in Indian stocks was halted Monday after shares in key benchmarks surged more than 17%  triggering market circuit breaker rules.

India's surge helped boost sentiment in other regional markets. While Japanese shares closed lower, before the start of Indian trading, exchanges open later, including Hong Kong, Shanghai and Singapore all ended higher.

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The Sensex closed 17.3% higher at 14,284.21, while the 50-stock S&P CNX Nifty rallied 17.7% to 4,323.15.

"The election in India is showing a clear mandate there, and probably underlines to a lot of investors there that Asia is going to be the growth area for the next six to nine months, whereas growth in Europe and U.S. could take much longer," said Andrew Sullivan, a sales trader at Main First Securities in Hong Kong.

Minutes after the opening, the 30-stock Sensitive Index, or Sensex, rose 10.7% while the National Stock Exchange Nifty rose 14.5%, triggering a two-hour trading suspension. Immediately at the resumption of trade, shares surged further, prompting a trading suspension for the rest of the day.

"A pro-reform/stable government is just what India needs, amid signs of economic expectations bottoming out, to inspire investor confidence. We have argued that the stability of the newly-elected government, rather than the coalition dynamics, would be crucial for" sentiment, said analysts at Standard Chartered.

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Some market observers were disappointed, however. Sharmila Joshi, an investment adviser in Mumbai, said "I have never seen anything like this... These kind of gap-up openings are ultimately bad for the market, as they don't give one a chance to participate. Today, it was impossible to participate."

Among the big gainers, shares of market heavyweight Reliance Industries climbed 20.6% and ICICI Bank advanced 25.4%, while property major DLF gained 25.9%.

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The local currency also surged, with the U.S. dollar recently down to 47.96 rupees from a previous close of 49.38 rupees.

Morgan Stanley raised its earnings estimate and Sensex targets after the poll outcome. Analysts there said they now expect the Sensex companies to post aggregate earnings growth of 2.5%, compared with a prior forecast of a 10% contraction, this fiscal year. Morgan Stanley raised its Sensex target for 2009 to 15,300.

Saturday, the Congress-led United Progressive Alliance secured 262 seats out of the 543 up for grabs, falling just short of the 272 majority mark. The alliance is expected to make up the difference with support from smaller parties and independents. The outcome beat the most optimistic exit polls.

NSE keeps circuit limit unchanged

The National Stock Exchange (NSE) on Monday said it has kept its circuit filters unchanged and trading will come to a halt if benchmark index Nifty rises or falls by 300 points in a day.

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"The existing policy will continue to govern trading on the exchanges. Accordingly, the first level of the circuit breaker at 10 per cent will be triggered at 300 points for Nifty and 975 for Sensex over the respective closing level of the indices today," the NSE said in a statement.

The announcement by NSE came in after the market authorities had to halt the trading - initially for two hours and later for the entire day - as the rules do not permit the trade to continue if a single-day gain exceed 20 per cent in either of the two benchmark indices, Sensex and Nifty.

The 50-share Nifty today soared 531.65 points in the opening trade which led to the regulators closing the equity and equity derivatives market closed for two hours. Following opening, Nifty further went up 651.50 points to 4,323.15, which triggered a halt for the day.

This circuit breaker brings about a coordinated trading halt in all equity and equity derivative markets nationwide and
are triggered by movement of either Sensex or Nifty, whichever is breached earlier.

Also the Sensex today soared by 2,111 points to close at 14,284.21 points. It had surged 1,760 points at 13,963, hitting the upper circuit following which trading was halted for two hours. After the trading was resumed, the Sensex soared 806 points at 14,284.21 triggering a halt for the day.

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On March 31, 2008, the last trading day of the quarter, Sensex closed at 9,708.50 points. The absolute points of Sensex variation which would trigger market wide circuit breaker for any day in the quarter between April 1 and June 30 would be 975 points for first 10 per cent trigger point, 1,450 points for the second 15 per cent trigger point and 1,950 points for the final 20 per cent trigger.

Similarly for the Nifty, the three trigger points in the current quarter would be 300 points, 440 points and 600 points - based on a closing level of 3,020.95 points on March 31. In case of a 10 per cent movement of either of these indices, there would be a one hour market halt if the movement takes place before 1 pm.

In case of a 15 per cent movement of either index, there will be a two hour market halt if the movement takes place before 1 pm. If the 15 per cent trigger is reached on or after 1 pm but before 2 pm, there will be a one hour halt. If the 15 per cent trigger is reached on or after 2 pm the trading will halt for the remainder of the day.

In case of a 20 per cent movement of the index, the trading will be halted for the remainder of the day.

Sensex will cross 15,000 level tomorrow

BSE's SENSEX is likely to cross the 15,000 level tomorrow and may hit the first upper circuit of 10 per cent as the upbeat market sentiment may attract retail investors to cash in on the bullish phase, analysts said.

Major market players were of the opinion that today's rally of nearly 20 per cent suggests the market might gather momentum in coming sessions amid picking up of capital inflows by foreign funds, and any support from retail investors would place the key-index beyond 15,000 points levels soon.

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"Market may see small movement of 500-700 points. It may witness 15,000 mark in intraday trade at which point it may see sell-off," Keynote Research Senior Vice President Nitin A Khandkar said.

After a sea-change in the market scenario, speculators would also run to cover up their pending short positions on fears of further upsurge in the share prices.

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"Investors who could not take part in the rally today may try to reap gains tomorrow," a NSE broker Rajeev Mallik said adding there were chances of the market hitting a 10 per cent upper circuit in early trade tomorrow. And if this happens, the barometer would be at around 15,500 points without taking much time, he said.

Many of the analysts feel the 30-share benchmark may touch the 15,000 level if the rally continues tomorrow, with some of them not ruling out that an upper circuit breaker might be hit again.

source economictimes

SEBI to outline framework for REITs

Speaking to mediapersons after an interactive session with members of Bharat Chamber of Commerce in Kolkata on Thursday, Sebi chairman C.B. Bhave said: "The regulator is not averse to the idea of REITs. We may look at REITs at a later stage. But before that, the regulator would assess the workings of real estate mutual funds."

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Sometime in April 2008, Sebi had prepared norms for real estate mutual fund. But the launch of real estate MF was delayed due to market meltdown. Incidentally, REITs is a trust that uses the pooled capital of many investors to purchase and manage real estate assets and/or mortgage loans.

REITs are traded on major stock exchanges like normal stocks. There are three type of REITs popular in USA and in other advance economies namely equity REITs, mortgage REITs and hybrid REITs.

According to Mr Bhave, the main hindrance for introducing REIT like products in India is lack of transparency in the real estate market, variable stamp duties in different states and absence of uniform price of land and properties across India.

"We have already spoken to the union government to bring about a uniformity in stamp duties across states but it would obviously take sometime," he added.

Commenting on the transparency in different investment avenues, Mr Bhave said that the regulator is also working on new guidelines for portfolio management schemes (PMS).

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"We want to ensure that a PMS client gets to know his exact asset portfolio directly through depository participants independent of the portfolio managers. This is essential to infuse credibility in the PMS system," he said.

Earlier addressing Bharat Chamber of Commerce members, Mr Bhave said that the regulator is working on new delisting guidelines. Though it will take sometime, Sebi want to ensure that the retail investors are not left in the lurch.

Foreign investments of Rs 4107 cr holds sensex above 12000 mark

(13/5/07 - bse stocks)Foreign institutional investors (FIIs) on Wednesday made a net investment of a whopping Rs 4,106.96 crore in the equity market, the biggest inflow in a single day so far this year, even as the BSE benchmark Sensex slipped into red dipping 138 points.

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In today's market FIIs were gross buyer of shares worth Rs 6,082.60 crore and sold equities worth Rs 1,975.64 crore, resulting in a net purchase of Rs 4,106.96 crore, as per provisional data on the Bombay Stock Exchange.

An analysis of SEBI data shows the investment of Rs 4,107 crore is the biggest in a single day so far this year. Marketmen said the FII investment in the equity market today helped the Sensex retain the 12,000 level even as retail investors turned net sellers.

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FIIs have pumped in a net of Rs 5,037.10 crore in stocks in May, while so far this year, FIIs made a net investment of Rs 5,887.50 crore in Indian equities, Sebi data shows.

While, brokers, on the behalf of their clients, sold shares worth Rs 3,868 crore, domestic institutional investors showed confidence and invested Rs 105.73 crore in equities. Proprietors and non-resident Indians booked profit and sold shares worth Rs 45 crore and Rs 1.65 crore respectively.

The BSE's 30-scrip Sensex today closed at 12,019.65 level, down 1.14 per cent or 138.38 points.

International Programme On Surveillance, Risk Management & Securities Settlement

OBJECTIVES

Surveillance, Risk Management and Securities Settlement have emerged as critical factors for successful functioning of stock exchanges in the background of growing integration of domestic markets with global finance and also harmonization of best practices in securities markets.

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The programme is envisaged to explain various facets of Surveillance, Risk Management and Securities Settlement and equip the participants with assessing, monitoring and managing these aspects with greater efficiency and efficacy.

PROGRAMME CONTENTS

Introduction to Risk Management

The risk management framework
Overview of different types of risk
Current trends in Capital Markets
Credit Risk Management

Defining credit risk
Counterparty risk
Default risk
Settlement risk
How collateral management can help reduce risk
Describing the credit rating process
Market Risk Management

Defining market risk
Identifying risk sensitivity
Liquidity
Volatility
Managing Risk using VAR method
Stress Testing
Operational Risk Management

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Defining Operational Risk
Assessing various ways to monitor ad control operational risk
How to integrate market risk with operational risk
Risk Measurement Tools

Historical Simulation
Variance from mean
VAR
Identifying Areas to Effectively Implement Manage and Control Risk

Integration of online monitoring with offline monitoring
Case Study of major market movements
Capital adequacy norms
Clearing an Settlement Procedures

Settlement cycles
Margins and Margining Management
Collateral Management
Risk Management through use of Trading Platforms
Inspection

KYC Norms
Money Laundering
Risk Management profile of clients
Process Audit
Venue:

BSE Training Institute,
Bombay Stock Exchange Ltd., Mumbai, India.

Date: 22 – 24 July, 2009

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Course Fee: US$ 2500
(Includes single room accommodation in a reputed hotel, airport pick up and drop facility, local transportation from hotel to venue and back, tuition fees, cost of study materials, lunch & refreshments and field visits in Mumbai).


Discounts: 10% for two registrations and more
Registration: Use enclosed format with payment details
Last Date for Registration: 26 June 2009

Key Contacts:
Mr. Vispi Rusi Bhathena, Manager, Knowledge Management
Mr. Piyush Shelat, Deputy Manager, Knowledge Management
Mr. Roy Aranha, Deputy Manager, Knowledge Management
Email: training@bseindia.com
Tel. 0091 22 22721127; 0091 22 22721233 Ext. 8175, 8197, 8303
Fax: 0091 22 22723250

download registration form
click here

source - www.bseindia.com

SEBI makes listing of debt securities simpler

(12/5/09 SEBI news) - SEBI has simplified the issuance and listing of non-convertible debt securities by companies, as part of its attempts to develop the country’s corporate bond markets. Accordingly, a company whose shares are listed and is seeking listing of its debt securities, needs to provide only “minimal incremental disclosures” for the debt issuance. Such disclosures, according to Sebi, are sufficient, as a large amount of information is already in the public domain.

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Even for companies whose shares are not listed on the stock exchange, but are looking to list their debt securities, the disclosures for the latter need not be as comprehensive as those required for an equity listing, the regulator said.

This move is aimed to enable debt issues for a more feasible fund-raising route, as the listing compliance for shares is far more complex and expensive.

Sensex may fall to 11450 if 11750 is breached

One of the reputed securities firm advises investors to be a gradual investor at major support levels like 3510 and 3350 on the Nifty with a medium term view in mind. On intra-day basis, it expects the Sensex to trip to 11450 if it fails to hold on to 11750 support. Here one can take fresh long trades and make partial investments in the market.

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“The market remained in a very narrow range through out the week with a huge volatility inside the range. This suggests us that the market is at paused levels and is deciding which side the go. However, the break of range on the "lower side" will readjust the prices of many index heavy weights and may strengthen the current on going trend of the market. On failure to do so and upward break out may compel long traders to trade long with a high risk in the market.

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Here we are calling it "high risk" for long traders because, the risk reward ratio is not suitable to trade long above 3700/ 12300 levels in the near term as the confidence levels may below above those levels. If we take the reading of major oscillators then we may say that they are diverging negatively to the price. Second, the prices are at their major resistance levels without any major correction since 3300 levels. Third the final countdown to the current elections will start and that will keep the sentiment mixed at higher levels. And last but not least is that the world markets are also on the verge of completion of the current rally as they are also near to their major resistance levels and are due for temporary correction in the near term.

FII's make fresh investments of ~ 80 crore

(11/5/09 - FII updates) - Foreign institutional investors on Monday made a net investment of Rs 79.88 crore in Indian equities, even as the BSE's benchmark index slipped 193.44 points to close at 11,682.99 level.

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FIIs were the gross purchaser of shares worth Rs 1,622.80 crore, whereas they sold equities worth Rs 1,542.92 crore resulting in a net buy of shares worth Rs 79.88 crore, as per the provisional data available with the Bombay Stock Exchange.

On Friday, FIIs had made a net investment of Rs 1,240.60 crore, according to the latest data available with the market regulator Securities and Exchange Board of India (SEBI) shows.

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However, domestic institutional investors booked profit and sold shares worth Rs 17.31 crore. Proprietors also offloaded a net Rs 46.28 crore shares in the market, according to the BSE data.

Stocks of 400 cos rise 100 per cent

(Indian Stocks updates, BSE updates) - As many as 20 largecaps such as RIL, SAIL, M&M , Sterlite, ICICI Bank and 30 mid-caps like Sesa Goa, Dish TV, Suzlon, Pantaloon and Unitech are among the 400-odd stocks which have given over 100% returns, if you would had bought them at their lows, an analysis of CMIE data shows.

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Out of the 2600-odd stocks listed on the BSE and NSE, 405 stocks have at least doubled their values from their 365-day lows touched in October last year. Simply put, one out every six stocks has gained over 100% from their one-year bottom.

When Sensex dipped to 7,697 on October 27 last year, many stocks such as Jindal Steel and Power crashed to their lows as investor sentiment went for a toss.

"With experts and governments hoping and implementing measures for a quicker recovery for the global economy, bulls have quickly turned the tables on bears and bought stocks across the board. This has led to an extreme appetite for stocks as many investors including foreign ones, even a few months ago were lying on the sidelines with their money," says the equity head of a foreign brokerage.

With sensex gaining momentum, the prices of many index constituents have gone up. From Rs 47 a share, the stock of Jaiprakash Associates now stands at Rs 138. Others like Sterlite have also gained — touching Rs 518 from 365-day low of Rs 164 (October 27). Tata Motors too has jumped from Rs 122 hit on November 20 2008, to Rs 272 at present.

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Amongst mid-caps (having a market capitalisation of between Rs 1,000 crore and Rs 5,000 crore), stocks such as Shree Global Trade Finance, Jai Corp, Lanco Infra, Shree Renuka and GVK Power have gone up over three times from their 365-day lows. With the stock markets losing steam and shape progressively from January 2009, many mid-caps and small-caps lost 50-60 % in less than two months.

Govt to sell Rs 12000 Cr bonds on 8th May

The government has announced it plans to raise Rs 12k crores through the sale of three securities - 6.05% paper expiring in 2019, 8.24% paper maturing in 2027 and 6.83% paper expiring in 2039 - on Friday. While it will raise Rs 6k crores through the first bond, Rs 3k will be raised through each of the other two.

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The auction comes amidst market concern about the government struggling to meet its liquidity needs, since it has been borrowing extra funds from the central bank for it.

The Union government’s outstanding loans from RBI under the ways and means advances, or WMA, facility stood Rs 40,000 crore as on April 24, more than double the Rs 20,000-crore limit set for the first-half of this fiscal for the second consecutive week.

Though borrowing within the stipulated limit is considered normal by the market, regular breaching of the limit tends to send wrong signals to the market. The WMA is a withdrawal facility provided by RBI to the government to meet temporary mismatches in its cash flows.

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Meanwhile 10 year bechmark is rallying strongly to trade at 6.21% at 3 15pm, yield down from 6.30% on Tuesday. The rupee weakened on Wednesday, dropping from two and half month highs touched in the previous session to trade at 49.60 against the dollar at 3 15 pm, hurt by the dollar strentgh overseas.

BSE Education & Research Services - NMIMS University Launch MBA Programme

Bombay Stock Exchange Limited has taken a number of initiatives in investor education, in over two dozen cities all over India. BSE supported for the setting up the centre “BSE SVKM’s NMIMS CENTRE for Capital Market Studies”. NMIMS launched a 2 Year Full Time MBA (Capital Market) Programme in collaboration with The Stock Exchange Education and Research Services. Important Dates:
1	a) Register online at www.nmims.edu (Demand Draft of Rs.950/-     drawn in favor of SVKM-NMIMS payable at Mumbai) b) Last date of registration	Monday 6th April, 2009 Monday 4th May, 2009
2	Call letters available on website for GD and PI at 5.00 pm	Wednesday 6th May, 2009
3	Group Discussion & Personal Interview (only at Mumbai)	13th to 16th May, 2009
4	List of selected candidates for admission will be available on website www.nmims.edu at 5.00 pm	Friday 29th May, 2009
5	Counseling & Payment of Admission fees (Time: 11.00 am to 4.00 pm)	1st to 11th June, 2009
6	Regsitration, Inauguration Programme at NMIMS	Monday 22nd June, 2009
7	Preparation & Orientation Programme	Tuesday 23rd June, 2009
8	Commencement of regular classes	Monday 6th July, 2009

source - bseindia.com

Stocks funds miss once-in-a-decade opportunity

Nearly nine of every ten Indian diversified equity funds lagged the benchmark index's best monthly gains in 10 years as double digit cash levels diluted returns in April, data from global fund tracker Lipper show.

These funds, making the largest stock funds category in terms of numbers and asset under management, posted a 13.7 percent jump in their net values in April, the best since December 2003.

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However, nearly 90 percent of the 285 funds tracked by Lipper failed to beat the 17.45 percent surge in the 30-share BSE index, which showed the best monthly performance in 10 years, as a wave of improved investor confidence swept across the world. "We think these funds lagged the broader indices, primarily due to their allocations to cash and non benchmark holdings," Chintamani Dagade, a senior research analyst with Morningstar India, said.

"Having said that, these funds reduced their cash allocations significantly in April to benefit from a surprise rally in March," he added.

Indian funds had everything going well in April, their large sectoral bets such as financials, capital goods and energy rallied on growing optimism that the global economy was on the mend, driving billions of dollars back into emerging markets.