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Dear
Members
Markets
closed on a positive note last week. Major confidence boosters were Q4
March 2010 advance tax figures from top Indian firms & Standard &
Poor’s (S&P) upgrade of India’s ratings outlook from negative to
stable. This has triggered renewed buying in Indian stocks by FIIs. FII
inflow in March 2010 totaled Rs. 14,021 crs., while the inflow in the calendar
year 2010 totaled Rs. 14,737 crs.
India’s
first international exchange traded fund (ETF) in India, Benchmark Mutual
Fund’s “Hang Seng BeEs” got listed on the NSE. RBI increased the Repo &
Reverse repo rates by 25 basis points each after the market hours on Friday
and markets are expected to be highly volatile this week.
SEBI
released circulars on “ Mutual Funds”, “Half Yearly reporting by Portfolio
Managers” & “Master circular on oversight of members (stock
brokers/trading members/clearing members of any segment of stock exchanges
and clearing corporations)”,IRDA released circular on “Controlled fund-
Life Insurance Companies” in Life Insurance space.
On
RAIN front, a meeting is scheduled with SEBI officials on 25th
March on “New IPO process i.e. Reduction in time period between issue
closure and listing”. All committee members who are part of IPO processing
will be attending this meeting and the out come will be shared with all of
you separately.
With
best regards
V. Ganesh
Chairman – RAIN
www.rainnet.org
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