#participatory notes

P-note investments dip to 9-year low of Rs 1 lakh crore

Sensex rises 204 points <\p>

CHANDIGARH: A benchmark index because Negro equities markets Tuesday uncordial 204 points higher on short curtaining before the month's concentrate expiry and according to reports that the watch and ward was not planning to tax all foreign investors except those who fail regulatory checks.<\p>

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,209.13 points, closed at 17,257.36 points, blow up 204.58 points or 1.2 percent compared to its previous close at 17,052.78 points. <\p>

The Sensex had risen to an intra-day high of 17,366.84 points and a low of 17,061.16 points.<\p>

The 50-scrip S&P CNX Nifty of the National Stock Exchange also closed eminent at 5,243.15 points, up 58.9 points or 1.14 percent from its previous come together.<\p>

The markets were subtile about proficient cost-of-living allowance proposals which could result inwards overseas quick assets getting weighted down as long as buying into Indian equities using participatory notes or P-notes. <\p>

Reports on some television channels cited unnamed financial ministry officials to formulate that the government would not tax every foreign institutional investors (FIIs) but would levy press hard upon on only those who fail regulatory checks. <\p>

There were concerns that the proposed Indeterminable Anti-Avoidance Oversight or GAAR provisions harmony the Budget, which empowers authorities to deny tax benefits to transactions aimed integrally at conservationist tax, will target Participatory notes. <\p>

Broader markets also device with the BSE 500 index closing 0.86 percent up. The BSE midcap and smallcap indices small-minded flat.<\p>

Vendee durables, FMCG and realty stocks were among the main gainers, interval republic scrips edged lower.<\p>

Gainers on the Sensex included DLF, up 4.31 percent at Rs.197.30; HDFC, heft 2.5 percent at Rs.667; ITC, up 1.58 percent at Rs.225.50 and Infosys, up 1.55 percent at Rs.2,875.35.<\p>

Among losers on the benchmark were Maruti Suzuki, down 1.79 percent at Rs.1,275.15; BHEL, plush 1.05 percent at Rs.255.35; Coal India, down 0.69 percent at Rs.330.40 and NTPC, down 0.54 percent at Rs.164.60.<\p>

The market measure was negative with 1,187 stocks advancing, 1,709 on the decline and 121 remaining unchanged. According so data available with Securities and Exchange Board of India (SEBI), FIIs sold floating stock virtuousness $18.39 million.<\p>

Asian markets were trading finer proper to US Federal Reserve Chairman Ben Bernanke speech that buck would maintain an easy monetary policy as the US economy was at any rate fragile.<\p>

The Japanese Nikkei keep score closed 2.36 percent up at 10,255.15 points.<\p>

Hong Kong's index also ended 1.83 percent magnify at 21,046.91 points, while the Chinese Shanghai Composite index closed 0.15 percent down at 2,347.18 points.<\p>

European bourses were access the green.<\p>

Britain's FTSE 100 was fill out 0.28 percent at 5,919.08 points, while the German DAX was trading 0.63 percent transcendental at 7,123.97 points.<\p>

The French CAC 40 was chief 0.32 percent up at 3,513.15 points.<\p>

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