Friday, March 5, 1999
Post-budget, NAVs see quantum jump
Mutual funds could not have hoped for better times. After getting 'a dream budget', their net asset values (NAVs) are now witnessing a surge, thanks to the post-budget bull run. A representative sample of 10 growth funds considered by this newspaper indicated an average jump of 16% in NAVs since budget.
Operators unwind; Sensex down 38 points
The post budget rally finally took a breather on Thursday after operators unwinded their positions ahead of the end of settlement at the Bombay Stock Exchange on Friday. The Sensex, which had gained 339.29 points in three consecutive days of rally, shed 38.46 points to close at 3601.96 on Thursday.
BSE to reduce post-trading settlement to 7 days
In the era of dematerialised trading, the Bombay Stock Exchange (BSE) has decided to further reduce its post-trading settlement period to seven days. Currently, it takes 14 days, from the first day of the settlement.