The market appears to have discounted the long-awaited Sebi pronouncements on the end of carry forward, compulsory rolling settlement etc. The removal of daily circuit filters will provide some compensation for the diehard speculators.
Prices firmed up following sustained FII buying, a firm trend in US markets following the fifth rate cut of 2001, high hopes of a normal monsoon and also expectations of a copycat Bank Rate cut by the RBI. There was also hope of the end of the post-Pokhran II US sanctions. Another notable trend was a sequence of buyback offers and some
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