SENSEX up 46 pts | Nifty up 15 pts today

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Indian Stock market closed a little up today thus ending a five day decline streak, but again witnessed a lackluster day.

Oil and Gas sector stocks, Realty stocks subindices were major losers while Bank and Pharma sector looked a little promising.

Nifty closed at 5477.90, up 15.55 points from yesterdays close and reached the lowest of 5454.70 during intraday trade.

The 30 stock BSE's Sensex also closed up by about 46 points today as the rise of stock was seen mainly in FMCG, Banking sector and Pharma stocks, Sensex closed at 18226.35, up 46.71 points today.

However since the predictions about possible double dip to take place next month are gaining grounds thus despite closing up Market breadth was negative on the NSE with 1,750 declines against 1,483 advances.

BSE SENSEX | NSE NIFTY closes in green thanks to cues from asian markets

(posted under - BSE rates, SENSEX rates) - The bench mark index BSE's SENSEX closed a whopping 202 pts up today as all the major asian markets were seen up hence investor's became bullish. Bombay Stock Exchange’s Sensex closed at 15,012.32, up 202.68 points or 1.37 per cent. It touched a high of 15145 and low of 14928.18.

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Nifty ended at 4453.45, up 59.35 points or 1.35 per cent. The index touched an intra-day high of 4492.80 and low of 4394.35.

Markets breadth was positive and it had 1525 advances against 1145 declines.

SEBI asks cos to declare dividend on a per share basis

(25/4/2009 - Indian Market Updates)  - SEBI on Friday reduced the timelines for the notice period by listed companies for all corporate actions like dividend and bonus, to name

a few. The notice period for the record date has been brought down to seven working days while that for board meetings has been reduced to two working days. It has also introduced a uniform procedure for companies in dealing with unclaimed shares. The new clause relates to those shares that could not be allotted to the rightful shareholder due to insufficient information.

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“It has been brought to the notice of the board that there is a large quantum of shares issued pursuant to the public issues, which remain unclaimed despite the best efforts of the registrar to issue or issuers, and that there is no uniform practice for dealing with such shares,” the release said.

The unclaimed shares will be credited to a demat suspense account opened by the issuer with one of the depository participants and any corporate benefit, such as dividend, bonus shares, will also be credited to such account. The allottee’s account will be credited as when he/she approaches the issuer, after undertaking the proper verification of identity. The voting rights of these shares will remain frozen till the rightful owner claims the shares. The details of the shares in the suspense account will be disclosed in the annual report.

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In order to bring about uniformity in the manner of declaring dividend among listed companies, Sebi has made it mandatory for companies to declare their dividend on a per share basis only. This means that irrespective of the face value of the share, the company will have to mention the dividend on an absolute basis.

posted under - SEBI, SEBI news, indian markets news, bse news, nse news and views, Security exchange board of india, SEBI
source - www.economictimes.com