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CONTENTS

RBI NEWS 3

I. Secondary Market Transactions in Government Securities - Intra-day short-selling 3

SEBI NEWS 4

I. Eligibility criteria for the introduction of derivatives 4

II. Use of Electronic Clearing System (ECS) for refund in public issues 4

NSE NEWS 4

I. Change in Index 4

SELECT ECONOMIC INDICATORS 5

MARKET REVIEW 6

Membership 6

Capital Market 6

Trading 6

Indices 8

Settlement 10

Futures & Options Market 11

Trading 11

Settlement 12

Wholesale Debt Market 12

Investor Grievances 14

Arbitration 14

System & Telecom 14

NSE's Certification in Financial Markets 15

ANNEXURES

'NSENEWS' is normally published in the second week of the succeeding month. * Articles on subjects of interest to Professionals in thesecurities market are welcome. * Authors (other than employees of NSE group) are suitably rewarded. * Views expressed by authors are theirown and NSE does not accept any responsibility. *All rights reserved. No part of the NSENEWS may be reproduced or copied in any form byany means without the written permission of NSE.

nse newsFebruary 2006

1

NATIONAL STOCK EXCHANGE OF INDIA LIMITED


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MANAGERIAL PERSONNEL OF NSE.IT

Mr Satish Naralkar MD & CEO 28268850 7780Mr C Kajwadkar SVP EMS 28268851 7601Mr G M Shenoy SVP Projects 28268853 7603Mr N Muralidaran SVP Projects 26598205 2001Mr Vinay Patkar SVP Projects 28268853 7603Mr Saumen Chakraborty VP MKT 28277605 7605Mr Manoj Uppal VP Quality 28268841 7602Mr Neelendra Vedak AVP MKT 28270646 7606Mr Kshitij Shah AVP Projects 28268856 7607Mr Arvind Ghalsasi AVP EMS 9819856502Mr Anand Pachchhapur GH Customer Support 28268857 7609Mr K. Ananthanarayanan GH STRAT 26598254 2002Mr Uday Nadkarni GH Projects 26598132 2003Mr Ashish Dandekar Sr. Manager Telecom 26598229 2117Mr HariHaran M N Sr. Manager Finance & Accounts 28271227 7619Mr M Vasudev Rao Sr. Manager Legal & Secretarial 28270061 7616Ms. Mamatha Rangaprasad Sr. Manager Trade 26598271 6068Mr P. R. Visvas Sr. Manager Projects 26598270 2130Mr Puneet Kohli Sr. Manager Telecom (011) 23344503 106Mr Shripad Bhanap Sr. Manager Enlitor 28277622 7622Mr Anupall Dutta Sr. Manager HRD 28268858 7608Ms Sonali Sule Sr. Manager Projects 28268841 7764Mr S M Prasad Sr. Manager MKT 28268841 7728Ms Nilima Prabhu Sr. Manager OMX 28268841 7622Mr R V Krishnan Sr. Manager MKT 28268841 7710Mr Aniruddha Joshi Manager STPCN 28277807 7807Mr Ashish Daphtary Manager DWH 26598270 2121Mr Bhaskar Ghosh Manager TECH (033) 22805403 127Mr Bineet Jha Manager HWARE 26598114 2085Mr Deviprasad Ramdas Singh Manager Telecom 26598276 2122Ms Kalpana Rawtani Manager NXS 28277630 7630Ms Laxmi Manoj Indulkar Manager Projects 26598409 2072Mr Manoj Joshi Manager Operations 26598231 2082Mr Prakash Hulsurkar Manager NCDEX 56406519 _Mr Pranav Gupta Manager OPMS 26598100 3069Mr Rajanish Nagwekar Manager NEATF 26598100 2141Mr Smrati Koushik Manager Projects 26598271 6082Mr Soumyajit Poddar Manager Customer Support 28268860 7688Ms Sriya Vijaykumar Manager PROBOS 28270645 7618Mr Sujoy Sudhir Das Manager PRISM 26598275 2021Mr Sumeet Batra Manager TECH 3344512 100Mr Ushanas Shastri Manager PROBOS 28277850 7850Mr Viral Mody Manager ICMS 28277620 7620Mr Amit Shukla Manager Testing 28268841 7617Mr Sandeep Geet Manager Projects 7679Mr Menghraj Punjabi Manager Enlitor 7728Mr Satish Kashyap Manager Domain 28270064 7818Mr Sanjay Mandani Manager EMS 9820818122Mr Ravindra Sant Manager MKT 28268841 7672

MANAGERIAL PERSONNEL OF NSEIL

NAME DESIGNATION DEPARTMENT TEL. NO. EXTN.

Mr Ravi Narain Managing Director and CEO 26598200 7000Ms Chitra Ramkrishna Dy. Managing Director 26598201 7001Mr J Ravichandran Director Finance & Accounts, Legal & Secretarial and Inspection, 26598203 5001Mr M L Soneji Director Membership, Arbitration, Defaulters Committee and 26598204 5000

Investor GrievanceMr R Nanda Kumar Vice President Development 26598223 4004Mr R Sundararaman Vice President NSCCL 26598212 4001Ms T. S. Jagadharini Vice President Capital Market (Trade & Dev) , F&O (Trade & Dev), 26598435 4002

WDM (Trade), IPO & International Business,Mr Vidhu Shekhar Vice President New Products & Six Sigma Inititiatives 26598209 4000Mr Yatrik R Vin Vice President Finance & Accounts 26598213 3003Mr A Sebastin Asst. Vice President Inspection 26598436 5126Mr Arup Mukherjee Asst. Vice President NCFM & Economic Analysis & Policy 26598217 3033Mr C. N. Upadhyay Asst. Vice President Inspection 26598210 5002Mr Dhruvkumar Patil Asst. Vice President Arbitration, Defaulters Section & Investor Grievances 26598190 5006Mr Hari K Asst. Vice President Listing & Corporate Communications 26598452 5058Mr Mahesh Haldipur Asst. Vice President Premises 26598211 4003Mr Narendra Kumar Ahlawat Asst. Vice President NSCCL - Development 26598219 4004Mr R Jayakumar Asst. Vice President Secretarial 26598222 5033Mr Rajesh V Bagwe Asst. Vice President HRD 26598224 5032Mr Ravi Varanasi Asst. Vice President Investigation & Surveillance 26598225 5003Mr Suprabhat Lala Asst. Vice President Trade - Capital Market, F&O & WDM 26598154 6029Mr Suresh Narayan Asst. Vice President India Index Services & Products Ltd. 26598221 2004Mr T Venkata Rao Asst. Vice President Regional Office - New Delhi (011) 23344335 127Mr Ajith Kumar V Manager Administration 26598146 4128Mr Amol Mahajan Manager Finance & Accounts 26598140 3081Mr Bhupesh Mistry Manager Premises 26598451 4105Mr Himanshu Malgaonkar Manager NSCCL - F&O Clearing 26598265 4065Mr Latika Kundu Manager Listing 26598232 5056Ms Loveena Khatwani Manager NSCCL - Collaterals 26598263 4072Mr. Nilesh Tinaikar Manager Development 26598453 4088Ms Nisha Subhash Manager Surveillance (Capital Market & F&O) 26598153 6040Mr Pradeep Kumar Maridur Manager Legal 26598199 5054Ms Rana Usman Manager NSCCL - Securities & Data Supply 26598268 4048Mr Ravindra Mohan Bathula Manager Legal 26598197 5047Ms Rehana D'Souza Manager Investor Grievance 26598192 5073Mr S Sivakumar Manager Regional Office - Chennai (044) 28473630 100Mr Sanjiv Nagar Manager Membership 26598249 4117Mr Shekhar Rao Manager Finance & Accounts 26598143 3051Ms Sushama Bhagchandani Manager Finance & Accounts 26598144 3041Mr V Soundararajan Manager Regional Office - Kolkata (033) 22805424 101Mr V Suresh Manager NSCCL - Funds 26598169 4084


3

RBI NEWS

Secondary Market Transactions in Government

Securities - Intra-day short-selling:

In the Mid-Term review of RBI's Annul Policy Statement

for the year 2005-06, it was proposed to introduce Intra-

day short selling in government securities. Accordingly

in continuation of circular IDMD.PDRS.05/10.02.01/

2003-04 dated March 29, 2004 the following guidelines

have been issued by the Reserve Bank of India:-

1. Banks and Primary Dealers (PDs) may undertake

outright sale of Central Government dated security

that they do not own, subject to the same being

covered by outright purchase from the secondary

market within the same trading day.

2. Intra-day short selling is being permitted subject to

the following conditions:

a. Intra-day short sale transaction and also the

covering of short position should be executed

only on the Negotiated Dealing System - Order

Matching (NDS-OM) platform.

b. Under no circumstances should the short

position be left uncovered at the end of the

day. Inability to cover a short position during

the trading day itself shall be treated as an

instance of 'SGL bouncing' and will be liable

to the disciplinary action prescribed in respect

of SGL bouncing, besides attracting such

further regulatory action as necessary.

c. At no point of time should a bank/PD

accumulate a short position in excess of 0.25

per cent of the outstanding stock of a security.

The information regarding the outstanding

stock of each Government of India dated

security is being made available on the RBI

website (URL: www.rbi.org.in) with effect from

March 1, 2006 to facilitate monitoring in this

regard.

d. Gilt Accounts Holders (GAHs), under CSGL

facility are not permitted to undertake intra-day

short selling. Those entities providing CSGL

facility are required to ensure that no short-sale

is undertaken by the GAHs.

3. Before actually undertaking transactions in terms

of this circular, banks/PDs are required to have in

place a written policy on 'intra-day' short sale which

should be approved by their respective Boards of

Directors. The policy should lay down the internal

guidelines which should include, inter alia, risk limits

on short position, an aggregate nominal short sale

limit (in terms of Face Value) across all eligible

securities, the internal control systems to ensure

adherence to regulatory and internal guidelines,

reporting of short selling activity to the top

management and the RBI, procedure to deal with

violations, etc. (A copy of the said policy should be

sent for prior information to the Internal Debt

Management Department (IDMD) of the RBI.)

A bank/PD must have in place a system to detect

violations if any, immediately, certainly within the

same trading day. A bank/PD which cannot

ensure such prompt detection should not

undertake short sale.

4. The concurrent auditors should specifically verify

compliance with these instructions and report

violations, if any, on the date of trade itself, within

a reasonably short time, to the appropriate internal

authority. As part of their monthly reporting,

concurrent auditors may verify whether the

independent back office has taken cognizance of

all such lapses and reported the same within the

required time frame. Any violation of regulatory

guidelines noticed in this regard should immediately

be reported to the Public Debt Office (PDO),

Mumbai and IDMD, Reserve Bank of India.

5. Banks / PDs are also required to report, as per the

format in the Annex, to IDMD, RBI on a monthly

basis, the daily security-wise maximum intra-day

short sale position. This report will be sent on the

first working day of the succeeding month.

6. These guidelines will be reviewed periodically to

consider modifications and continuance, as

appropriate.

Source: RBI Circular RBI/2005-06/309,IDMD.No 03/

11.01.01 (B)/2005-06 dated February 28, 2006


4

SEBI NEWS

Eligibility criteria for the introduction of derivatives

In continuation with the circular DNPD/Cir-31/2006

dated January 20, 2006 prescribing the eligibility criteria

for the introduction of derivatives on stocks of

companies undergoing corporate restructuring, SEBI

has clarified that if a post restructured company comes

out with an Initial Public Offering (IPO), then the same

prescribed criteria as currently applicable for

introduction of derivatives on a company coming out

with an IPO may be applied for introduction of

derivatives on stocks of the post restructured company

from its first day of listing.

Source: SEBI Circular : DNPD/Cir-32/2006 Dated

February 15, 2006

Use of Electronic Clearing System (ECS) for refund

in public issues

SEBI vide circular No. SEBI/CFD/DIL/DIP/18/

2006/1 dated January 20, 2006 has amended SEBI (DIP)

Guidelines, 2000 providing for use of various modes

for making refunds in public issues.

It was mentioned in the aforesaid circular that applicants

in 15 centers where clearing houses are managed by

Reserve Bank of India will get refunds through ECS

only and the bank details of such applicants will be taken

directly from the database of the depositories in respect

of issues made completely in dematerialized form. It is,

therefore, necessary that the MICR code maintained at

the database of the depositories is updated on a real

time basis as and when changes take place to ensure

credit of refunds to the bank accounts of the applicants.

For this purpose, DPs have to update the MICR Code

and other bank details of the applicants in the database

of the depositories. This is to ensure that the refunds

through ECS are made in a smooth manner and that

there are no failed/wrong credits.

Source: SEBI Circular No. MRD/DEP/Cir-3/06 Dated

February 21, 2006

Indices Companies Excluded Companies Included

CNX 100 Index Flextronics Software Systems Ltd. Container Corporation of India Ltd.

CMC Ltd. Reliance Capital Ltd.

CNX Nifty Junior Flextronics Software Systems Ltd. Container Corporation of India Ltd.

CMC Ltd. Reliance Capital Ltd.

S&P CNX 500 Flextronics Software Systems Ltd. IDFC Ltd.

Fertilisers & Chemicals Travancore Ltd. HT Media Ltd.

Shree Rama Multi Tech Ltd. IL& FS Investsmart Ltd.

Tata Teleservices (Maharashtra) Ltd. Mercator Lines Ltd.

KDL Biotech Ltd. Simplex Infrastructures Ltd.

Regency Ceramics Ltd. Gokaldas Exports Ltd.

Vinyl Chemicals (India) Ltd. Greaves Cotton Ltd.

BSL Ltd. India Glycols Ltd.

CNX IT Index Flextronics Software Systems Ltd. Financial Technologies (India) Ltd.

CNX Midcap Index Flextronics Software Systems Ltd. JSW Steel Ltd.

CNX MNC Index Flextronics Software Systems Ltd. Blue Dart Express Ltd.

CNX Bank Index Andhra Bank UTI Bank Ltd.

CNX PSE Index Rashtriya Chemicals & Fertilizers Ltd. HMT Ltd.

Bongaigaon Refinery & Petrochemicals Ltd. Bharat Earth Movers Ltd.

CNX Service Sector Index Great Eastern Shipping Co. Ltd. Reliance Capital Ltd.

NSE NEWS

Change in Index:

The Index Maintenance Sub-Committee has decided to make the following changes in the Indices during its periodic

Review. These changes have become effective from March 2, 2006.


5

Source: RBI Bulletin

Note:

* : Base: 1980-81=100

+ : Base : 1981-82=100

** : Source SEBI

*** : Excludes Derivatives & WDM Segment

**** : Market capitalistaion as a percntage of GDP

SELECT ECONOMIC INDICATORS

Sr. Item Unit/Base 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06

No. September October November December

1 Gross Domestic Product at factor cost Rs. Million 11,986,850 12,678,330 13,183,210 14,267,010 15294080 3768780

(at 1993-94 prices) (Q.E) (R.E.) (Qtr.2 of 2005-06)

2 Index Number of Agricultural Production Triennium 165.7 167.3 140.6 169.5 (P) 168.4 (P) – – – –

(All crops) ending 1981-82

3 General Index of Industrial Production 1993-94 = 100 162.6 167 176.6 189.0 (P) 204.2 (P) 216.8 (P) 222.6 (P) 216.7 (P) –

4 Aggregate Deposits Rs. Million 9,626,180 11,033,600 12,808,530 15,044,160 17,199,470 (P) 19,092,140 (P)19,112,090 (P) 19,161,630 (P) 19,406,940 (P)

5 Bank Credit Rs. Million 5,114,340 5,897,230 7,292,150 8,407,850 10,920,910 (P) 12,561,410 (P)12,844,000 (P) 13,058,600 (P) 13,524,820 (P)

6 S C Banks Investment in Govt. Securities Rs. Million 3,400,350 4,111,760 5,234,170 6,547,580 7,177,910 (P) 7,291,160 (P) 7,297,910 (P) 7,194,070 (P) 6,822,640 (P)

7 M3

Rs. Million 13,132,200 (P) 14,983,550 (P) 17,179,600 (P) 20,031,020 (P) 22,691,560 (P) 24,693,320 (P)24,866,960 (P) 25,020,020 (P) 25,292,860 (P)

8 Cash Reserve Ratio Per cent 8.00 5.50 4.75 4.50 5.00 5.00 5.00 5.00 5.00

9 Bank Rate Per cent 7.00 6.50 6.25 6.00 6.00 6.00 6.00 6.00 6.00

10 Inter-bank call money rate (Mumbai) Per cent 4.00/19.00 4.00/20.00 3.00/12.00 2.00-4.60 0.60-6.25 1.00-6.00 2.00-6.20 1.50-7.25 4.50-7.55

11 Prime Lending Rate Per cent 11.00-12.00 11.00-12.00 10.75-11.50 10.25-11.00 10.25-10.75 10.25-10.79 10.25-10.75 10.25-10.75 10.25-10.75

12 Wholesale Prices

a. All Commodities 1993-94=100 155.7 161.3 166.8 175.9 187.3 197.2 197.8 – –

b. Fuel, power, light and lubricants 1993-94=100 208.1 226.7 239.2 254.5 280.2 – 312.8 – –

13 Consumer prices-Industrial Workers 1982=100 444 463 482 500 520 542 548 553 550

14 Value of Imports US$ Million 50,536 51,413 61,412 78,149 107066 (P) 10,487 (P) 11,367 (P) 9,906 (P) 10,986 (P)

15 Value of Exports US$ Million 44,560 43,827 52,719 63,483 79,247 (P) 7,297 (P) 8,093 (P) 6,164 (P) 8,284 (P)

16 Balance of Trade US$ Million (5,976) (7,587) (8,693) (14,307) (27819) (P) (3,190) (P) (3,284) (P) (3,742) (P) (2,702) (P)

17 Foreign Exchange Reserves

a. Foreign Currency Assets US$ Million 39,554 51,049 71,890 107,448 135,571 1,36,920 1,37,286 1,36,582 1,31,018

b. Gold US$ Million 2,725 3,047 3,534 4,198 4,500 4,712 4,864 4,925 5,274

c. SDRs US$ Million 2 10 4 2 5 4 4 4 5

18 Government Borrowings

Gross Rs. Million 1,284,830 1,525,080 1,819,790 1,981,570 1,456,020 — — — —

Net Rs. Million (866,670) (1,095,630) (1,331,820) (1,351,920) (800,280) — — — —

19 Net FII Investment ** US$ Million 2,160 1,846 562 9,949 10,172 1,023 -1,054 420 1,83

(Cumulative Net Investment) US$ Million (13396) (15242) (15804) (25754) 35926 40,349 39,295 39,715 41,546

20 All Stock Exchanges Turnover *** Rs. Mn. 28,809,900 8,958,180 9,689,098 16,039,640 16,587,870 2,268,310 1,800,330 1,623,880 2,027,610

21 Market Capitalisation Ratio**** Per cent 54.50 36.40 28.53 52.25 121.96 — — — —

Q.E : Quick Estimate

R.E : Revised Estimate

A.E : Advance Estimate


6

MARKET REVIEW

The summary statistics of different market segments

of NSE for the month of February 2006 is presented in

Table 1. All three segments in NSE, taken together

reported a trading value of Rs.6,445,320 million during

the month, a decrease of 2.14% as compared to the

previous month. The market capitalization of the

securities available for trading at the end of February

2006 stood at Rs.40,655,314 million.

Table 1: Dimensions of Market of NSE

Market At the end of February 2006 Trading Value

Seg- (Rs. in mn.)

ments No. of No. of Market Jan-06 Feb-06

Members Securities/ Capitali-

Contracts sation

(Rs. mn.)

CM 820 911a 25,120,830 1,494,421 1,353,742

WDM 68 3,152 15,534,484 216,071 164,854

F&O 753 8,807b – 4,875,837c 4,926,724

Total 927d 12,870 40,655,314 6,586,329 6,445,320

(a) excludes suspended securities.

(b) 3 nifty index futures, 3 CNX IT futures, 3 bank nifty, 196 nifty

index options, 348 stock futures, 134 CNX IT options, 206 bank

index options, 7,896 stock option and 18 interest rate futures

contracts.

(c) includes notional turnover [(strike price + premium) × quantity]

in index options and stock options.

(d) do not add up to total because of multiple membership.

Membership

The current membership strength of the Exchange

is 927 and 90.40 % of the members are corporate

members. The composition of members at the end

of the month is presented in Table 2. There are 17

registered professional clearing members at the end

of February 2006.

Table 2: Distribution of Membership as on

February 28, 2006

Consti- CM WDM CM & CM, CM & Total

tution Segment Segment WDM WDM F&O

Segments & F&O Segments

Segments

Corporate 128 7 11 50 642 838

Individuals 13 0 0 0 28 41

Firms 15 0 0 0 33 48

Total 156 7 11 50 703 927

Capital Market

Trading

The Capital Market (CM) segment of the Exchange

reported a trading volume of Rs.1,353,742 million with

about 2.74 million trades per day. The month showed a

slight decline in the trading volumes as compared to its

previous month's performance. The trading value

decreased by 9.41% over its previous month where it

registered a trading value of Rs.1,494,421 million. The

average daily trading value for the month was Rs.71,250

million as compared to Rs.74,721 million during the

preceding month. The average trade size recorded in

the month of February 2006 was Rs.25,976. Figure 1

presents the daily movement in turnover in terms of

value and quantity during the month. The business

growth of CM segment is presented in Figure 2 and

Annexure I. The details of daily trades are given in

Annexure II.

Figure 1:

Value and Quantity of Turnover:

February 2006


7

Figure 2:

Business Growth of Capital Market Segment

High Volume Securities

The '5' most traded securities during the month

accounted for 16% of the total trading volume

(Table 3). The shares of top '10' and '100' securities

in total trading volume during the month were 27%

and 79% respectively. The details of top '10'

securities in terms of turnover for the month of

February 2006 are presented in Annexure III.

Table 3: Contribution of Top 'N' Securities

(In per cent)

Top 'N' 2004-05 January February

Securities 2006 2006

5 26 26 16

10 42 34 27

25 58 49 44

50 72 64 60

100 84 79 79

High Volume Members

The share of top 'N' trading members in total turnover

is presented in Table 4. The share of top '5' and top '10'

members in turnover was 14% and 23% respectively,

while top '100' trading members accounted for 70% of

total turnover during the current month.

Table 4: Share of the Top 'N' Trading Members(In per cent)

Top 'N' 2004-05 January February

Members 2006 2006

5 14 15 14

10 20 24 23

25 35 41 40

50 49 55 55

100 65 70 70

Advance/Decline Ratio

The month's advance/decline ratio which represents the

market climate is presented in Annexure IV. The ratio

witnessed a decrease from 0.89 in January 2006 to 0.79

in February 2006. On average 381 securities advanced

and 485 securities declined in the month. The largest

advances took place on February 10, 2006 where

598stocks surged in value.

Market Capitalization

At the end of the month, 1051 companies were listed

and 911 companies were available for trading in the

CM segment of the Exchange. The list of securities

admitted for trading on the CM segment and the list

of securities suspended from trading and restarted

during the month are presented in Annexure V(a) and

V(b) respectively.

The market capitalization of securities available for

trading in the CM segment witnessed an increase of

4.82% from Rs.24,343,946 million in January 2006

to Rs.25,120,830 million in February 2006. The S&P

CNX Nifty and CNX Junior Nifty securit ies

accounted for 57.09% and 9.76% of total market

capitalization respectively. The growth of market

capitalisation as well as number of companies

available for trading in CM segment is presented in

Figure 3.

Figure 3:

Growth of Market Capitalisation on CM Segment


8

Debentures

During the month of February 2006, 1,728 trades

involving 2.71 million debentures valuing Rs.286.96

million were transacted in the CM segment of the

Exchange as against 1,462 trades involving 2.44 million

debentures for Rs.255.04 million in the preceding month.

The details of trades in debentures traded in the CM

Segment are presented in Table 5.

Table 5: Debenture Traded in the CM Segment

YearNo. of Traded Trading Value

Trades Quantity (mn.) (Rs. mn.)

1997-98 52,278 16.1 1,075.5

1998-99 47,158 10.4 857.1

1999-00 28,240 13.6 1,036.7

2000-01 4,152 0.2 119.5

2001-02 9,266 5.4 588.1

2002-03 2,439 0.41 683.9

2003-04 13,918 46.75 2,219.9

2004-05 39,736 67.69 5,214.72

April-Feb. 2006 23,682 25.26 2,655.43

Indices

S&P CNX Nifty

The market benchmark index S&P CNX Nifty closed

at 3074.70 on February 28, 2006, registering a rise of

73.6 points (2.45%) during the month as compared

3001.10 on January 31, 2006. It recorded a high of

3090.30 on February 28, 2006, and a low of 2928.10

on February 06, 2006. The market capitalisation

witnessed an increased from 13,992,937 million as

on January 31, 2006 to Rs.14,342,660 million on

Februar y 28, 2006 registering an increase of

Rs.349,720 million (2.44%). The daily movement of

S&P CNX Nifty is presented in Annexure VI and in

Figure 4. The distribution of industry-wise weightage

for S&P CNX Nifty is presented in Table 6.

Table 6: S&P CNX Nifty Industry-wise Weightage

as on February 28, 2006

Sl. Industry Weightages (%) Returns (%)

No.

1 Aluminium 2.49 (2.89)

2 Automobiles - 2 & 3 Wheelers 3.07 13.89

3 Automobiles - 4 Wheelers 4.77 10.86

4 Banks 10.03 (1.15)

5 Cement and Cement Products 2.76 10.59

6 Cigarettes 4.52 11.40

7 Chemical 0.36 (2.22)

8 Computers - Software 19.37 (0.34)

9 Diversified 3.74 24.81

10 Electrical Equipment 4.21 10.71

11 Finance -Housing 2.37 1.94

12 Engineering 2.29 10.35

14 Gas 1.61 (6.72)

15 Media & Entertainment 0.51 7.23

15 Oil Exploration 11.30 (8.15)

16 Personal Care 0.44 (6.64)

17 Petrochemicals 0.40 (8.52)

18 Pharmaceuticals 4.75 13.14

19 Power 1.58 2.36

20 Refineries 8.56 0.40

21 Shipping 0.30 (8.63)

22 Steel and Steel Products 3.50 10.12

23 Tea and Coffee 0.36 (0.28)

24 Telecommunication - Services 6.12 0.34

25 Travel and Transport 0.59 (1.57)

Total 100.00 2.45


9

Figure 4:

Movement of S&P CNX Nifty: February 2006

During the month of February 2006, 368 trades

involving 0.06 million Nifty BeES, the Exchange

Traded Fund (ETF), valued at Rs.18.07 million were

transacted.

CNX Nifty Junior

The CNX Nifty Junior Index closed at 5966.65 on

February 28, 2006 registering a rise of 83.75 points

(1.42%) as compared to 5882.9 on January 31, 2006.

During the month, the CNX Nifty Junior reported a

high of 6132.40 on February 14, 2006 and a low of

5758.80 on Febr uary 02, 2006. The market

capitalisation of CNX Nifty Junior index increased

from Rs.2,329,250 million as on January 31, 2006 to

Rs.2,452,690 million on February 28, 2006, i.e. an

increase of Rs.123,440 million (5.03%). The daily

movement of CNX Nifty Junior is presented in

Annexure VI and in Figure 5.

Figure 5:

Movement of CNX Nifty Junior Index :

February 2006

S&P CNX Defty

The S&P CNX Defty, the dollar representative of

S&P CNX Nifty, closed at 2396.95 on February 28,

2006 registering an increase of 41.05 points over its

previous month's close of 2355.90. During the month

under review, Defty reached a high of 2409.45 on

February 28, 2006 and touched the low of 2295.20

on February 06, 2006. The daily movement of Defty

is presented in Annexure VI and in Figure 6.

Figure 6:

Movement of S&P CNX Defty: February 2006

The details of individual securities in S&P CNX Nifty

and CNX Nifty Junior are presented in Annexure VII

and VIII respectively.

Other Indices

An analysis of the monthly, quarterly, half yearly and

yearly performance of the indices as of end February

2006 is presented in table 7. The overview of the

indices shows the positive returns given by all the

indices for investments made for shorter period of

one month as well as for three months. All the indices

has shown a positive returns for a longer period.

The best performer in the longer period of one year

was CNX Midcap Index which gave returns of

47.49% .


10

Table 7: Performance of Various Indices as at end

February 2006(In per cent)

Indices 1 month 3 months 6 months 1 year

S&P CNX Nifty 2.45 15.93 28.94 46.19

S&P CNX 500 2.82 15.30 25.05 45.50

S&P CNX Defty 1.74 19.87 27.73 43.79

CNX Nifty Junior 1.42 13.82 18.08 35.97

CNX Midcap 2.04 14.70 20.01 47.49

CNX IT Index -0.93 12.42 25.05 36.10

CNX Bank Index -1.43 6.81 11.27 24.38

* CNX Midcap 200 has been discontinued w.e.f. 16-7-2005.

A comparison of the five different sectoral indices viz.,

S&P CNX Petrochemicals Index, S&P CNX Finance

Index, S&P CNX FMCG Index, S&P CNX

Pharmaceuticals Index and S&P CNX IT Index, with

that of S&P CNX Nifty Index during the month of

February 2006 is presented in Figure 7. FMCG and

Pharmaceuticals both the Indices considerably out

performed the Nifty Index throughout the month and

proved to be the best performers of the month. Other

indices like the CNX IT , Finance and the Petrochemical

could not perform well during the month. The

Petrochemical Index proved to be the worst performer

of the month February 2006.

Figure 7:

Performance of the Select Indices:

February 2006

Overseas Indices

A correlation analysis for the major overseas stock market

indices was carried out for the month of February 2006.

Table 8 presents the returns and the volatility of these

indices and Table 9 presents the respective correlate.

Table 8: Returns and Volatility of Select Indices

during February 2006(In percent)

Indices Monthly Volatility of

Returns Returns*

DJIA 1.18 0.63

HANG SENG 1.05 0.65

FTSE 100 0.54 0.65

NIKKEI -2.67 1.55

NASDAQ Composite -1.06 0.78

STI 2.90 0.51

S&P CNX NIFTY 2.45 0.81

* Volatility is the standard deviation of daily returns for February

2006

Table 9 : Correlation between Select Indices during

February 2006

Indices DJIA HANG FTSE NI- NAS- STI S&PSENG 100 KKEI DAQ CNX

Com- Niftyposite

DJIA 1 0.16 0.45 -0.25 0.86 -0.14 -0.22

HANG SENG 1 0.08 0.42 0.31 0.44 0.39

FTSE 100 1 -0.10 0.25 0.16 -0.15

NIKKEI 1 -0.15 0.55 0.22

NASDAQ 1 -0.14 -0.09

Composite

STI 1 0.08

S&P CNX NIFTY 1

Settlement

During February 2006, in terms of quantity of securities

traded 29.34% of securities were settled by net delivery

and in terms of value, the net delivery worked out to

27.93% of turnover. However, these deliveries include

only the net deliveries made by the trading members to

the clearing corporations. The gross deliveries made by

all clients would be much higher. The segment witnessed

substantial increase in the share of short and bad

deliveries. Short deliveries averaged around 0.31 % during

the month. The percentage of uncertified bad delivery

to delivery has also been negligible because of full demat

settlements. The details of settlement of trades on NSE

are presented in Annexure IX.


11

Futures & Options (F&O) Market

Trading

The total trading value in the F&O segment amounted

to Rs. 4,926,724 million in the month of February

2006 as against Rs.4,875,837 million in January 2006.

The segment witnessed an increase of 1.04% in the

current month over the previous month's trading

volume. The average daily trading value during the

month was Rs.259,301 million.

Index futures recorded a total trading value of

Rs.1,563,590 million and the near month index futures

contract recorded the highest trading value of

Rs.1,168,547 mill ion during the month. The

movement of Nifty as compared to Nifty futures in

the month of February 2006 is presented in Figure 8.

The stock futures recorded a total trading value of

Rs.2,887,148 million during February 2006. The near

month contract expiring on February 23, 2006

recorded the highest trading volume of Rs.2,088,121

million. The stock futures are most popular among

various derivative products, accounting for 58.60%

of total turnover in the segment.

The index options recorded a total notional trading

value of Rs.323,310 million during the month with

the near month option contract recording the highest

notional trading value of Rs.119,508 million for call

options and Rs.120,660 million for put options.

The total trading value of stock options during the

month was Rs.152,677 million. The option expiring

on February 23, 2006 recorded the highest notional

trading value of Rs.95,552 million for call options

and Rs.24,269 million for put options.

The trade details of the F&O segment for the month

are presented in Table 10. It is evident that near month

contracts are more popular than not-so-near month

contracts; futures are more popular than options;

contracts on securities are more popular than those

on indices; and call options are more popular than

put options. The business growth of F&O market

segment is presented in Annexure X and Figure 9

respectively. The distribution of F&O volume is

presented in Figure 11.

Index

Options

Stock

Options

Index

Futures

Stock

Futures

Table 10: Trade Details of F&O Market for

February 2006.

FuturesPro- Contract No. of Trading Openduct expiring Contracts Value Interest

on (Rs. mn.) (No. ofcontracts

as at end of

month)**

3-Feb-06 3,889,591 1,168,547 77,202

30-Mar-06 1,284,687 391,254 258,040

27-Apr-06 11,787 3,555 2,931

25-May-06 770 234 477

23-Feb-06 5,355,357 2,088,121 119,280

30-Mar-06 2,079,153 795,796 570,077

27-Apr-06 8,463 3,146 3,432

25-May-06 205 85 31

Options

Pro- Ty- Contract No. of Trading Openduct pe expiring Contracts Value Interest

on (Rs. mn.) (No. ofcontracts

as at end of

month)**

23-Feb-06 392,485 119,508 50,154

30-Mar-06 107,350 33,589 52,643

27-Apr-06 6,347 1,995 6,611

25-May-06 532 169 522

23-Feb-06 402,978 120,660 108,839

30-Mar-06 149,276 45,146 81,935

27-Apr-06 6,336 1,898 8,602

25-May-06 1,092 346 1,032

23-Feb-06 252,071 95,552 54,579

30-Mar-06 73,911 27,846 30,241

27-Apr-06 250 103 142

25-May-06 1 0 1

23-Feb-06 62,581 24,269 18,601

30-Mar-06 13,101 4,879 6,574

27-Apr-06 58 28 52

25-May-06 0 0 0

* Notional trading volume [(Strike Price + Premium) × Quantity]in case of index options and stock options.

** Figures as on last day for the above period or expiry of thecontract whichever is earlier.

*** There were no trades reported for the contracts traded inInterest Rate Derivative.

Call

Call

Put

Put


12

Settlement

All derivative contracts are currently cash settled.

During February 2006, such cash settlement amounted

to Rs.21,346.10 million. The details of settlement are

presented in Annexure XI. The settlement of futures

and of options involved Rs.19,310.70 million and

Rs.2,035.40 million respectively.

Figure 8:

Movement of Nifty vs. Nifty Futures:

February 2006

Figure 9:

Business Growth of F&O Segment

Figure 10 :

Distribution of F&O Volume: February 2006

Wholesale Debt Market

The WDM segment witnessed a fall in trading value

accounting for Rs.164,854 million in February 2006,

showing a decrease of 23.7% as against Rs.216,700

million in January 2006. The average daily trading

value during the month was Rs.8,677 million as

against Rs.10,804 million in the preceding month.

This shows that the WDM segment witnessed a

decrease in trading activity this month. The daily

trading value ranged widely between Rs.14,867

million on February 02, 2006 and Rs. 4,161 million

on February 14, 2006. The business growth of WDM

segment since inception is presented in Figure 11 and

Annexure XII.

Figure 11:

Business Growth of WDM Segment

The Subsidiary General Ledger (Non-Repo trades -

NDS Reporting System) reported a turnover of

Rs.267,909 million during the month of February

2006. The percentage of NSE SGL trades Non Repo

to total SGL Non Repo trades accounted for 58.64%.

The ten most active securities accounted for 65.45%

of the trading volume on the segment. Details of

these securities are presented in Annexure XIII.

The market is dominated by dated government securities,

which reported a trading value of Rs.124,484 million

contributing 75.51% of total trading volume during

February 2006. Treasury Bills accounted for Rs.32,623


13

The share of top 'N' securities/trading members/

participants in turnover in WDM segment is presented

in Table 11. The share of top '10' and '100' securities in

the month of February 2006 are 65.45% and 99.13%

respectively.

Table 11: Share of top 'N' Securities/trading

members/participants in Turnover in WDM

segment

(In percent)

Top 'N' Securities Trading Members Participants

Jan-06 Feb-06 Jan-06 Feb-06 Jan-06 Feb-06

5 48.50 54.19 48.11 49.62 21.62 25.27

10 60.01 65.45 66.85 73.73 37.11 39.40

25 76.77 79.70 95.51 97.95 60.50 58.74

50 88.88 92.15 100.00 100.00 69.46 68.15

100 97.67 99.13 – – 70.06 68.20

During the month 28 securities with a total

outstanding debt of Rs.113,078 million were added

for trading. Total market capitalisation of securities

available on WDM segment stood at Rs.15,534,484

mill ion on February 28, 2006. The market

capitalisation of various securities on WDM segment

as on February 28, 2006 is presented in Table 12.

Table 12: Market Capitalization of WDM Segment

as on February 28, 2006

Security Type Market Capitalisation Share in Total

(Rs. mn.) (%)

Govt. Securities 10,586,808 68.15

PSU Bonds 835,732 5.38

State Loans 2,404,271 15.48

MF Units 6,501 0.04

Fin. Institutions 254,110 1.64

Treasury Bills 672,570 4.33

Corporate Bonds 446,599 2.87

Others* 327,893 2.11

Total 15,534,484 100.00

*Others include securitized debt and bonds of local bodies.

million or 19.79% of the total trading volume.

Institutional bonds, bonds issued by banks and other

securities accounted for Rs.7,748 million or 4.71% of

total trading volume. Distribution of trading volume

of securities traded during the month on WDM is

presented in Figure 12.

Figure 12 :

Security-wise Distribution of WDM Trades

The share of domestic banks in the total trading volume

decreased this month as compared to the previous

month. It accounted for about 21.17% of share in the

total turnover as against 22.11% in January 2006. The

share of primary dealers in turnover was 26.57% in

February 2006. It witnessed an increase as compared to

24.79% in the previous month. The share of foreign

banks have decreased considerably to 16.71% in

February 2006 from 19.86% in January 2006.

Distribution of turnover for various categories of

participants is presented in Figure 13.

Figure 13 :

Participant-wise Distribution of WDM Trades

February 2006


14

The FIMMDA NSE MIBID/MIBOR is based on rates

polled by NSE from a representative panel of 29 banks/

institutions/primary dealers. The overnight rates are

disseminated daily to the market at 0950 (IST) and the

14 day, 1 month and 3 month rates at 1145 (IST). The

daily FIMMDA NSE MIBID/MIBOR rates for

February 2006 presented in Annexure XIV.

Investor Grievances

Despite all precautionary measures taken by NSE

and investors, certain grievances and issues do arise

in the day-to-day functioning. The Investor

Grievance Cell handles these complaints lodged by

investors against trading members/companies. In

the month of February 2006, 91 cases were received

against trading members of the exchange and 122

cases against companies listed on the exchange. The

status of receipt and disposal of investor grievances

by the Exchange for February 2006 is presented in

Annexure XV.

Arbitration

Arbitration is an alternative d ispute resolution

mechanism provided by the Exchange for resolving

disputes between the trading members and between

a trading member and his client in respect of trades

done on the Exchange. The status of arbitration

matters with the Exchange till February 2006

presented in Annexure XVI.

System and Telecom

NSE Network

The expansion of NSE network in different cities

and number of VSATs since December 1994 is

presented in Figure 14. The list of towns and cities

having NSE VSAT terminals is presented in Annexure

XVII. As at end-February 2006, NSE had 2,787

VSATs in 315 cities across the country. To

supplement the current VSAT network as well as to

eliminate the downtime, NSE also provides TBTN

(Leased Lines) links to trading members. As of

February 2006, 2,044 such lines have been

commissioned. Distribution of VSATs across the

cities is presented in Table 13.

Table 13: Distribution of VSATs across cities as at

end February 2006

No. of VSATs No. of Cities No. of VSATs

in a City in the Cities

1 141 141

2 55 110

3 19 57

4-10 67 411

11-20 18 270

21-50 7 205

51-100 5 342

>100 3 1,251

Total 315 2,787

Figure 14:

Growth of VSATs and Cities


15

Table 14: Module-wise and Centre-wise Distribution of Candidates Tested

Test Deri- Capital NSDL - AMFI- Insu- FIMMDA Securi- Comm- Associa- Corpo- Financial TotalCentre vatives Market Deposi- Mutual rance NSE ties odities tion rate Markets

Core Modules tory Fund Modules Debt Market market of Gover-Module Opera- Modules Market Module Module Financial nance

tions (Basic) PlannersModule Module

Mumbai 17,372 21,342 8,326 17,578 8,275 2,022 1,571 2,315 1,466 35 38 80,340

Delhi 12,637 17,350 6,469 10,086 3,412 791 1,126 1,564 817 10 1 54,263

Kolkata 7,525 12,072 2,820 5,196 3,191 422 541 829 334 24 5 32,959

Chennai 6,084 8,706 4,127 6,746 2,525 405 1,066 836 400 57 25 30,977

Hyderabad 3,356 4,890 1,990 2,657 1,217 257 356 465 199 2 1 15,390

Ahmedabad 2,704 4,746 2,488 2,511 1,293 186 179 399 133 0 0 14,639

Others 6,637 11,963 5,618 8,838 822 202 1,535 1,232 232 22 1 37,102

Total 56,315 81,069 31,838 53,612 20,735 4,285 6,374 7,640 3,581 150 71 265,670

NSE's Certification in Financial Markets

(NCFM)

NCFM is a fully automated, on-line, nation-wide testing

and certification system. It tests practical knowledge and

skill required to operate in financial market in a secure

and unbiased manner to ensure that the persons entering

the field have minimum understanding of the market,

products and regulations. The number of candidates

taking NCFM tests has increased manifold in the recent

past. Module - wise and centre - wise break up of the

number of candidates, who have taken the NCFM test

by February 2006 presented in Table 14.

16http://www.nseindia.comhttp://www.nseindia.com

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17


* Average Impact Cost is calculated for an execution of a Rs. 50 lakh portfolio in a security, in proportion of it's market capitalisation to that of the market

capitalisation of S&P CNX Nifty.

ANNEXURE IIITOP TEN SECURITIES ON THE CM SEGMENT: FEBRUARY 2006

Month/Year No. of Securities No. of Traded Quantity Trading Value

Traded Trades (mn.) (Rs. mn.)

01-Feb-2006 885 2,852,569 328 76,333

02-Feb-2006 886 2,742,661 328 69,400

03-Feb-2006 882 2,720,094 303 65,629

06-Feb-2006 887 2,663,531 296 69,829

07-Feb-2006 885 2,900,858 373 76,361

08-Feb-2006 886 2,818,488 357 73,903

10-Feb-2006 893 2,841,301 328 77,806

13-Feb-2006 891 2,753,423 311 69,988

14-Feb-2006 888 2,910,789 326 81,799

15-Feb-2006 890 2,823,079 320 81,709

16-Feb-2006 887 2,909,558 375 73,269

17-Feb-2006 889 2,744,650 313 71,123

20-Feb-2006 888 2,471,205 247 56,635

21-Feb-2006 889 2,462,877 285 58,359

22-Feb-2006 889 2,509,519 290 60,052

23-Feb-2006 888 2,820,101 398 88,322

24-Feb-2006 889 2,546,913 321 55,795

27-Feb-2006 893 2,426,408 287 60,309

28-Feb-2006 893 3,197,137 377 87,119

Total 946 52,115,161 6,163 1,353,742

Securities No. of Traded Trading Average Daily Share in Total Average

Trades Quantity Value Trading Value Trading Value Impact

(Mn. Shares) (Rs. mn.) (Rs. mn.) (%) Cost (%)*

Reliance Industries Ltd 628,768 99 70,078 3,688 5.18 0.08

Infosys Technologies Ltd 395,702 18 51,132 2,691 3.78 0.05

Tata Motors Limited 530,681 47 35,740 1,881 2.64 0.06

Larsen & Toubro Ltd. 527,040 14 32,061 1,687 2.37 0.08

Satyam Computer Services 428,046 41 30,983 1,631 2.29 0.04

Reliance Capital Ltd 742,969 65 30,293 1,594 2.24 0.08

State Bank Of India 428,965 34 30,098 1,584 2.22 0.04

Titan Industries Ltd 683,362 37 28,412 1,495 2.10 0.07

Oil And Natural Gas Corp. 336,559 24 27,578 1,451 2.04 0.08

Tata Steel Limited 713,455 65 26,475 1,393 1.96 0.05

Total of Top Ten Securities 5,415,547 444 362,849 19,097 26.80 –

Total 52,115,161 6,163 1,353,742 71,250 100.00 –

ANNEXURE IITRADE STATISTICS: FEBRUARY 2006


18

ANNEXURE IVADVANCES/DECLINES (NO. OF SECURITIES)

Month/Date Advances Declines Advance /Decline Ratio

Apr-00 394 583 0.68

Apr-01 372 421 0.88

Apr-02 381 354 1.08

Apr-03 347 289 1.20

May-03 397 280 1.42

Jun-03 466 238 1.96

Jul-03 351 360 0.97

Aug-03 374 349 1.07

Sep-03 296 353 0.84

Oct-03 321 344 0.93

Nov-03 382 304 1.26

Dec-03 409 316 1.30

Jan-04 290 446 0.65

Feb-04 344 348 0.99

Mar-04 319 399 0.80

Apr-04 399 324 1.23

May-04 329 403 0.82

Jun-04 347 370 0.94

Jul-04 402 331 1.22

Aug-04 390 356 1.10

Sep-04 398 369 1.08

Oct-04 354 415 0.85

Nov-04 450 310 1.45

Dec-04 400 391 1.02

Jan-05 375 427 0.88

Feb-05 380 419 0.91

Mar-05 344 462 0.74

Apr-05 368 430 0.86

May-05 439 364 1.21

Jun-05 373 439 0.85

Jul-05 449 384 1.17

Aug-05 458 389 1.18

Sep-05 388 470 0.83

Oct-05 317 533 0.60

Nov-05 467 376 1.24

Dec-05 416 430 0.97

Jan-06 407 457 0.89

1-Feb-06 167 708 0.24

2-Feb-06 289 576 0.50

3-Feb-06 382 477 0.80

6-Feb-06 560 303 1.85

7-Feb-06 403 456 0.88

8-Feb-06 357 507 0.70

10-Feb-06 598 268 2.23

13-Feb-06 544 331 1.64

14-Feb-06 315 559 0.56

15-Feb-06 355 506 0.70

16-Feb-06 425 444 0.96

17-Feb-06 173 699 0.25

20-Feb-06 249 618 0.40

21-Feb-06 520 341 1.52

22-Feb-06 304 566 0.54

23-Feb-06 301 564 0.53

24-Feb-06 435 429 1.01

25-Feb-06 483 387 1.25

28-Feb-06 383 484 0.79

Average for February 06 381 485 0.79

19


ANNEXURE V (a)DETAILS OF FURTHER ISSUES AND NEW LISTINGS : FEBRUARY 2006

I. Further Issues

SL. SYMBOL NAME OF COMPANY DESCRIPTION NO. OF

NO. SECURITIESISSUED

1 3IINFOTECH 3i Infotech Limited Further issue - Employee Stock Option Scheme 70,465

2 ACC Associated Cement Co. Ltd Further issue - Employee Stock Option Scheme 764,130

3 AFTEKINFO Aftek Infosys Limited Further issue - Employee Stock Option Scheme 42,024

4 ANDHRABANK Andhra Bank Further issue - Public issue 85,000,000

5 ASIL Amit Spinning Industries Limited Further Issue - Preferential Issue 10,000,000

6 AZTEC Aztec Software and Technology Services Ltd. Further issue - Employee Stock Option Scheme 41,197

7 BAJAJHIND Bajaj Hindusthan Ltd Further Issue - Underlying FCCBs 20,351,985

8 BANKBARODA Bank Of Baroda Further issue - Public issue 71,000,000

9 BHARTI Bharti Tele-Ventures Ltd. Further Issue - Underlying FCCBs 2,860,159

10 CRESTANI Crest Animation Studios Limited Further Issue - Preferential Issue 887,330

11 CYBERTECH Cybertech Systems And Software Ltd. Further issue - Employee Stock Option Scheme 6,750

12 DRREDDY Dr. Reddy's Laboratories Ltd. Further issue - Employee Stock Option Scheme 68,048

13 EMCO Emco Limited Further Issue - Preferential Issue 270,000

14 FEDERALBNK The Federal Bank Ltd Further issue - Abeyance 4,052

15 GOLDTECH Goldstone Technologies Ltd. Further Issue - Preferential Issue 262,920

16 GRANULES Granules India Limited Further issue - Employee Stock Option Scheme 42,820

17 GTNIND GTN Industries Limited Further Issue - Conversion of partly paid shares 2,000,000

18 HCL-INSYS Hcl Infosystems Ltd Further issue - Employee Stock Option Scheme 280,770

19 HCLTECH HCL Technologies Ltd Further issue - Employee Stock Option Scheme 296,456

20 HDFC Housing Development Finance Corporation Ltd. Further issue - Employee Stock Option Scheme 11,145

21 HDFCBANK Hdfc Bank Ltd Further issue - Employee Stock Option Scheme 387,100

22 HINDALC0 Hindalco Industries Ltd. Further issue - Right issue 231,521,031

23 I-FLEX I-Flex Solutions Limited Further issue - Employee Stock Option Scheme 11,720

24 ICICIBANK ICICI Bank Ltd Further issue - Employee Stock Option Scheme 146,496

25 IDBI Industrial Development Bank of India Limited Further issue - Employee Stock Option Scheme 27,629

26 IGS iGate Global Solutions Limited Further issue - Employee Stock Option Scheme 6,942

27 INDHOTEL Indian Hotels Co. Ltd. Further Issue - Underlying FCCBs 117,420

28 INDIAINFO India Infoline Limited Further issue - Employee Stock Option Scheme 100,465

29 INGVYSYABK ING Vysya Bank Limited Further issue - Employee Stock Option Scheme 61,256

30 INVSTSMART IL&FS Investsmart Limited Further Issue - Underlying GDRs 2,101,909

31 ITC Itc Ltd. Further issue - Bonus 9,295

32 ITC Itc Ltd. Further issue - Employee Stock Option Scheme 21,080

33 IVC IL&FS Investment Managers Limited Further issue - Employee Stock Option Scheme 295,428

34 JPASSOCIAT Jaiprakash Associates Limited Further Issue - Underlying FCCBs 1,559,181

35 JSWSTEEL JSW Steel Limited Further Issue - Conversion of warrants 6,829,452

36 JUBILANT Jubilant Organosys Limited Further Issue - Underlying FCCBs 243,671

37 KALECONSUL KALE CONSULTANTS LTD Further issue - Employee Stock Option Scheme 283,079

38 KPIT KPIT Cummins Infosystems Limited Further issue - Employee Stock Option Scheme 6,038

39 LML LML Ltd. Further Issue - Preferential Issue 819,723

40 LT Larsen & Toubro Limited Further Issue - Underlying FCCBs 566,852

41 M&M Mahindra & Mahindra Ltd. Further Issue - Underlying FCCBs 1,444,177

42 MASTEK Mastek Ltd Further issue - Employee Stock Option Scheme 18,166

43 MONNETISPA Monnet Ispat Ltd Further Issue - Preferential Issue 1,000,000

44 MPHASISBFL Mphasis BFL Limited Further issue - Employee Stock Option Scheme 146,165

45 MYSORECEM Mysore Cements Ltd Further Issue - Preferential Issue 2,000,000

46 NAGARCONST Nagarjuna Construction Co. Ltd Further Issue - Underlying GDRs 2,935,420

47 PANTALOONR Pantaloon Retail (India) Ltd. Further issue - Right issue 4,478,720

48 PATNI Patni Computer Systems Limited Further Issue - Underlying ADS 12,312,500

49 PATNI Patni Computer Systems Limited Further issue - Employee Stock Option Scheme 141,515

50 RAMCOSYS Ramco Systems Limited Further issue - Right issue 3,070,757

51 SASKEN Sasken Communication Technologies Limited Further issue - Employee Stock Option Scheme 86,741

52 SHOPERSTOP Shopper’s Stop Limited Further issue - Employee Stock Option Scheme 1,147

53 STER Sterlite Industries ( India ) Limited Further Issue - Underlying FCCBs 164,800

54 SUBEX Subex Systems Limited Further Issue - Bonus 10,878,784

55 SUPREMEIND Supreme Industries Ltd Further Issue - Preferential Issue 420,000

56 TATAMOTORS Tata Motors Limited Further Issue - conversion of Zero Coupon Convertible Notes 535,589

57 TELEDATAIN Teledata Informatics Limited Further Issue - Underlying GDRs 66,200,000

58 TTML Tata Teleservices (Maharashtra) Limited Further Issue - Underlying FCCBs 622,736

Contd...


20

I. Further Issues

SL. SYMBOL NAME OF COMPANY DESCRIPTION NO. OF

NO. SECURITIESISSUED

Contd...

59 UNICHEMLAB Unichem Laboratories Ltd Further issue - Employee Stock Option Scheme 600

60 UNIWESTBNK United Western Bank Ltd Further Issue - Bonus 5,977,544

61 VIDEOIND Videocon Industries Limited Further Issue - Underlying GDRs 217,200

62 WIPRO Wipro Ltd Further issue - Employee Stock Option Scheme 2,454,262

II. New Listing

SL. SYMBOL NAME OF COMPANY DATE OF

NO. LISTING

1 STERTOOLS Sterling Tools Ltd. 2-Feb-06

2 RCAPVL Reliance Capital Ventures Limited 21-Feb-06

3 RENVL Reliance Energy Ventures Limited 24-Feb-06

4 NITINSPIN Nitin Spinners Limited 2-Feb-06

5 ROHLTD Royal Orchid Hotels Limited 6-Feb-06

6 ENIL Entertainment Network (India) Limited 15-Feb-06

7 GSPL Gujarat State Petronet Limited 16-Feb-06

8 JAGRAN Jagran Prakashan Limited 22-Feb-06

9 INOXLEISUR INOX Leisure Limited 23-Feb-06

10 GVKPIL GVK Power & Infrastructure Limited 27-Feb-06

ANNEXURE V (b)DETAILS OF SECURITIES SUSPENDED AND RESTARTED : FEBRUARY 2006

I. Securities Suspended

SL. SYMBOL COMPANY NAME SECURITY DESCRIPTION DATE OF REASONNO. SUSPENSION FOR

SUSPENSION

Equity

1 FSS Flextronics Software Systems Limited Flextronics Software Systems Limited 3-Feb-06 Delisting of equity shares ofthe company as per SEBIDelisting Guidelines-2003.(Date of Delisting10-Feb-2006)

2 TATAINFOTE Tata Infotech Limited Tata Infotech Limited 17-Feb-06 Scheme of Amalgamation

Debt Market

1 ICIBK0403 ICICI Bank Limited Tax Saving Bond -Option I 20-Feb-06 Redemption

2 ICICI0301 ICICI Limited Regular Income Bond-Option I 8-Feb-06 Redemption

3 ICICI0301 ICICI Limited Regular Income Bond-Option II 8-Feb-06 Redemption

4 ICICI0301 ICICI Limited Regular Income Bond-Option III 8-Feb-06 Redemption

5 ICICI1101 ICICI Ltd Money Multiplier Bond - Option I 28-Feb-06 Redemption

6 IDBI Industrial Development Bank of Public issue of unsecured bonds (Flexibonds 6) 23-Feb-06 RedemptionIndia Limited in the nature of Promissory Notes aggregating to

Rs. 6000 crores


Rs. 6000 crores


Rs. 6000 crores


Rs. 6000 crores


Rs. 6000 crores


Rs. 6000 crores

12 IDBI0301 Industrial Development Bank of India IDBI Regular Income Bond (2001B)- Option A 16-Feb-06 Redemption

13 IDBI0301 Industrial Development Bank of India IDBI Regular Income Bond (2001B) Option B 16-Feb-06 Redemption

14 IDBI0301 Industrial Development Bank of India IDBI Growing Interest Bond (2001B), Interest 16-Feb-06 Redemptionpayable on March 30 every year

Retail Debt Market

1 0727I13 GOVERNMENT OF INDIA GOI LOAN 7.27% 2013 28-Feb-06 Interest payment2 0738I15 GOVERNMENT OF INDIA GOI LOAN 7.38% 2015 28-Feb-06 Interest payment

21


AN

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22

ANNEXURE VIIS&P CNX NIFTY INDEX: FEBRUARY 2006

S l . Name of Market Weightage Beta R 2Average Daily Monthly Impact

No. Security Capitalisation (%) Volat i l i ty Return Cost

(Rs. mn.) (%) (%) (%)

1 ABB 107,925 0.01 0.71 0.15 1.60 0.68 0.09

2 ACC 115,985 0.01 0.78 0.27 1.62 9.07 0.06

3 BAJAJAUTO 263,204 0.02 0.82 0.21 2.19 20.73 0.08

4 BHARTI 683,603 0.05 0.98 0.25 1.29 1.06 0.12

5 BHEL 496,129 0.03 1.09 0.32 1.79 12.89 0.08

6 BPCL 130,650 0.01 0.69 0.14 1.77 5.13 0.12

7 CIPLA 165,573 0.01 0.83 0.17 3.43 24.85 0.08

8 DABUR 63,293 0.00 0.98 0.19 1.62 -6.64 0.11

9 DRREDDY 100,056 0.01 0.70 0.13 3.21 16.49 0.09

10 GAIL 230,694 0.02 1.05 0.35 1.27 -6.72 0.11

11 GLAXO 111,431 0.01 0.70 0.16 2.06 2.55 0.13

12 GRASIM 159,750 0.01 0.86 0.27 2.35 19.83 0.09

13 GUJAMBCEM 119,452 0.01 0.97 0.26 1.53 -0.28 0.08

14 HCLTECH 196,511 0.01 1.15 0.30 1.16 -2.63 0.11

15 HDFC 340,603 0.02 0.84 0.18 2.07 1.94 0.10

16 HDFCBANK 230,570 0.02 0.79 0.19 1.80 -3.32 0.08

17 HEROHONDA 177,582 0.01 0.81 0.17 1.93 3.74 0.09

18 HINDALCO 177,838 0.01 1.16 0.39 1.87 -6.95 0.09

19 HINDLEVER 536,443 0.04 0.89 0.21 2.77 24.81 0.09

20 HINDPETRO 109,841 0.01 0.81 0.24 1.67 4.74 0.09

21 ICICIBANK 547,339 0.04 1.16 0.29 2.35 0.98 0.09

22 INFOSYSTCH 776,618 0.05 1.03 0.39 1.38 -1.78 0.05

23 IPCL 57,601 0.00 1.16 0.36 1.78 -8.52 0.08

24 ITC 647,577 0.05 0.86 0.23 2.07 11.40 0.08

25 JETAIRWAYS 84,698 0.01 0.75 0.16 2.47 -1.57 0.10

26 LT 328,140 0.02 0.94 0.22 3.18 10.35 0.08

27 MARUTI 237,657 0.02 1.14 0.34 1.77 8.44 0.06

28 M&M 138,887 0.01 0.95 0.29 1.87 5.35 0.07

29 MTNL 89,870 0.01 1.04 0.24 2.80 0.67 0.10

30 NATIONALUM 179,956 0.01 1.27 0.32 3.45 1.12 0.13

31 ONGC 1,620,431 0.11 1.03 0.37 1.81 -8.15 0.08

32 ORIENTBANK 60,117 0.00 0.96 0.23 1.44 -4.40 0.09

33 PNB 139,395 0.01 1.23 0.36 1.73 -5.00 0.08

34 RANBAXY 159,978 0.01 0.82 0.13 3.01 7.54 0.07

35 REL 125,231 0.01 1.09 0.34 1.31 -2.48 0.08

36 RELIANCE 987,788 0.07 1.06 0.43 1.20 -0.71 0.04

37 SAIL 263,313 0.02 1.44 0.32 3.03 13.33 0.09

38 SATYAMCOMP 248,953 0.02 1.26 0.39 1.55 3.07 0.04

39 SBIN 461,827 0.03 1.19 0.48 1.27 -1.00 0.04

40 SCI 42,430 0.00 0.79 0.21 1.82 -8.63 0.07

41 SUNPHARMA 144,303 0.01 0.47 0.08 1.92 11.79 0.11

42 TATACHEM 51,055 0.00 0.81 0.19 1.44 -2.22 0.07

43 TATAPOWER 101,165 0.01 1.27 0.43 1.72 8.35 0.07

44 TATATEA 52,254 0.00 0.78 0.24 2.68 -0.28 0.07

45 TATAMOTORS 307,538 0.02 1.29 0.38 2.32 15.21 0.06

46 TCS 816,579 0.06 1.03 0.34 1.15 1.82 0.06

47 TATASTEEL 238,547 0.02 1.23 0.42 1.71 6.56 0.05

48 VSNL 104,011 0.01 1.65 0.31 1.72 -4.73 0.06

49 WIPRO 739,424 0.05 1.26 0.41 1.50 -1.75 0.08

50 ZEETELE 72,848 0.01 1.05 0.16 2.86 7.23 0.09

TOTAL 14,342,663 100 1.00 – 0.81 2.45 0.08

Note : * Beta & R2 are calculated for the period 01-Mar-2005 to 28 Feb-2006

* Beta measures the degree to which any portfolio of stocks is affected as compared to the effect on the market as a whole.

* The coefficient of determination (R2) measures the strength of relationship between two variables the return on a security versus that of the market.

* Volatility is the Std. deviation of the daily returns for the period 01-Feb-2006 to 28-Feb-2006

* Last day of trading was 28 Feb, 2006

* Impact Cost for S&P CNX Nifty is for a portfolio of Rs. 50 lakhs

* Impact Cost for S&P CNX Nifty is the weightage average impact cost

23


ANNEXURE VIIICNX NIFTY JUNIOR INDEX: FEBRUARY 2006

Sl. Name of Market Weightage Beta R2 Average Daily Monthly Impact

No. Security Capitalisation (%) Volatility Return Cost

(Rs. mn.) (%) (%) (%)

1 ANDHRABANK 42,510 0.02 1.17 0.25 2.04 (5.65) 0.10

2 APOLLOTYRE 11,478 0.00 0.62 0.13 1.55 (3.42) 0.17

3 ASHOKLEY 45,728 0.02 1.24 0.30 2.88 25.45 0.11

4 ASIANPAINT 64,464 0.03 0.40 0.08 2.09 8.99 0.21

5 AUROPHARMA 29,602 0.01 0.94 0.13 2.01 3.09 0.13

6 AVENTIS 41,911 0.02 0.65 0.15 2.42 7.12 0.33

7 BANKBARODA 81,878 0.03 1.55 0.39 1.94 (10.69) 0.11

8 BANKINDIA 65,433 0.03 1.81 0.34 3.98 3.39 0.13

9 BEL 88,004 0.04 1.01 0.26 2.49 (0.75) 0.15

10 BHARATFORG 91,897 0.04 1.19 0.34 2.72 8.09 0.14

11 BIOCON 48,450 0.02 0.56 0.12 1.44 4.68 0.14

12 BONGAIREFN 13,668 0.01 0.98 0.25 0.97 (0.36) 0.11

13 CADILAHC 33,633 0.01 0.44 0.08 1.45 4.99 0.19

14 CANBK 117,363 0.05 1.37 0.31 3.95 14.18 0.13

15 CHENNPETRO 33,438 0.01 1.08 0.23 1.33 (2.52) 0.14

16 CMC 7,564 0.00 0.50 0.07 1.17 (0.48) 0.22

17 COCHINREFN 24,385 0.01 0.76 0.18 2.03 3.13 0.16

18 CORPBANK 48,361 0.02 1.00 0.18 1.85 (0.85) 0.14

19 CUMMINSIND 44,679 0.02 0.91 0.15 3.74 27.13 0.10

20 GESHIPPING 46,739 0.02 0.86 0.15 2.14 4.31 0.11

21 CONCOR 94,010 0.04 0.41 0.05 2.54 8.23 0.44

22 I-FLEX 80,891 0.03 0.83 0.17 1.53 (7.21) 0.12

23 IBP 12,308 0.01 0.62 0.15 2.10 6.73 0.23

24 IDBI 60,639 0.02 1.40 0.27 1.90 (7.10) 0.10

25 IFCI 6,994 0.00 1.55 0.22 4.78 (3.52) 0.24

26 INGERRAND 12,002 0.00 0.72 0.08 2.92 12.72 0.22

27 IOB 55,297 0.02 1.15 0.20 2.47 (9.21) 0.16

28 JPASSOCIAT 82,424 0.03 1.23 0.18 2.58 8.78 0.11

29 KOTAKBANK 70,903 0.03 1.00 0.13 2.49 (2.01) 0.17

30 LICHSGFIN 17,037 0.01 1.02 0.24 1.90 2.24 0.09

31 LUPIN 37,620 0.02 0.75 0.13 2.55 11.08 0.16

32 MOSERBAER 24,633 0.01 0.92 0.18 2.67 5.54 0.15

33 MPHASISBFL 27,886 0.01 0.94 0.21 0.95 0.06 0.14

34 NICOLASPIR 49,558 0.02 0.94 0.18 1.56 (1.13) 0.13

35 NIRMA 38,679 0.02 0.81 0.16 2.45 6.33 0.22

36 PATNI 64,503 0.03 0.97 0.24 2.03 (2.93) 0.13

37 PFIZER 30,095 0.01 0.50 0.07 2.42 (6.12) 0.17

38 POLARIS 10,722 0.00 1.44 0.25 2.30 (7.88) 0.11

39 PUNJABTRAC 14,223 0.01 0.67 0.15 1.50 (5.93) 0.16

40 RAYMOND 26,793 0.01 0.80 0.18 1.70 8.18 0.12

41 SIEMENS 149,771 0.06 0.76 0.14 1.39 0.74 0.08

42 STER 147,742 0.06 1.27 0.27 2.75 (2.65) 0.12

43 SYNDIBANK 48,752 0.02 1.26 0.24 2.92 (3.66) 0.11

44 TTML 37,633 0.02 1.19 0.27 1.14 (6.43) 0.12

45 TVSMOTOR 28,481 0.01 1.10 0.21 1.61 2.65 0.15

46 UNIONBANK 56,226 0.02 1.23 0.27 1.78 (1.29) 0.11

47 UTIBANK 91,263 0.04 0.83 0.12 2.40 (2.82) 0.11

48 VIJAYABANK 24,797 0.01 1.20 0.29 1.74 (6.84) 0.13

49 INGVYSYABK 13,426 0.01 0.94 0.20 1.35 (7.37) 0.18

50 WOCKPHARMA 56,194 0.02 1.02 0.24 2.04 6.28 0.12

TOTAL 2,452,689 100.00 1.00 – 1.03 1.42 0.15

Note : * Beta & R2 are calculated for the period 01-Mar-2005 to 28-Feb-2006

* Beta measures the degree to which any portfolio of stocks is affected as compared to the effect on the market as a whole.

* The coefficient of determination (R2) measures the strength of relationship between two variables, the return on a security versus that of the market.

* Volatility is the Std. deviation of the daily returns for the period 01-Feb-2006 to 28-Feb-2006

* Last day of trading was 28 Feb, 2006

* Impact Cost for CNX Nifty Junior is for a portfolio of Rs. 25 lakhs

* Impact Cost for CNX Nifty Junior is the weightage average impact cost


24

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.94

1,32

0,87

635

6,17

726

.97

354,

630

110.

490.

000.

0010

3,72

6

Oct

-05

506,

473

1,82

228

.14

1,35

3,76

333

8,57

025

.01

337,

409

70.

400.

000.

0013

1,70

6

No

v-05

425,

201

1,41

627

.24

1,04

7,48

227

6,52

526

.40

275,

745

50.

320.

000.

0091

,549

Dec

-05

556,

211

1,72

327

.75

1,42

8,14

136

2,95

125

.41

361,

941

50.

290.

000.

0011

4,82

2

Jan

-06

556,

601

1,86

128

.19

1,48

2,57

740

0,98

327

.05

399,

644

70.

360.

000.

0013

6,33

4

Feb

-06

526,

032

1,77

029

.34

1,33

7,52

637

3,52

127

.93

372,

459

60.

310.

000.

0010

5,80

9

Ap

r -

Feb

06

538

74,3

66

20,4

95

27.5

613

,419

,404

3,6

13,2

36

26.9

33,6

00,7

70

83

0.4

00.0

00.0

01,

181,

699

25


Op

en

In

tere

st

at

the e

nd

of

AN

NE

XU

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XB

USIN

ESS G

RO

WT

H O

F F

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OP

TIO

NS M

AR

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Mo

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Ind

ex F

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Sto

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Fu

ture

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ate

Ind

ex O

pti

on

sSto

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Op

tio

ns

To

tal

Fu

ture

sC

all

Pu

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all

Pu

t

No

. o

fT

rad

ing

No

. o

fT

rad

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No

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fT

rad

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No

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fN

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on

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of

No

tio

nal

No

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fN

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of

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nal

No

. o

fT

rad

ing

No

. o

fT

rad

ing

Co

ntr

acts

Val

ue

Co

ntr

acts

Val

ue

Co

ntr

acts

Val

ue

Co

ntr

acts

Tra

din

gC

on

trac

tsT

rad

ing

Co

ntr

acts

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din

gC

on

trac

tsT

rad

ing

Co

ntr

acts

Val

ue

Co

ntr

acts

Val

ue

Tra

ded

(Rs.

mn

.)T

rad

ed(R

s. m

n.)

Tra

ded

(Rs.

mn

.)T

rad

edV

alu

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rad

edV

alu

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rad

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alu

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rad

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alu

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rad

ed(R

s. m

n.)

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ded

(Rs.

mn

.)

(Rs.

mn

.)(R

s. m

n.)

(Rs.

mn

.)(R

s. m

n.)

Ave

rag

e

Dail

y

Tra

din

g

Valu

e

(Rs.

mn

.)

No

te:

1.N

oti

on

al T

urn

ove

r =

(St

rike

Pri

ce +

Pre

miu

m) ×

Quan

tity

.2.

Index

Futu

res,

In

dex

Op

tio

ns,

Sto

ck O

pti

on

s, S

tock

Futu

res

and I

nte

rest

Rat

e F

utu

res

wer

e in

tro

duce

d i

n J

un

e 20

00,

Jun

e 20

01,

July

200

1, N

ove

mb

er 2

001a

nd J

un

e 20

03 r

esp

ecti

vely

.

Jun

-00

to M

ar-0

190

,580

23,6

50-

--

--

--

--

--

-90

,580

23,6

5011

6

2001

-02

1,02

5,58

821

4,81

91,

957,

856

515,

155

--

113,

974

24,6

5761

,926

12,9

9876

8,15

918

7,79

526

9,37

063

,830

4,19

6,87

31,

019,

254

4,12

793

,917

21,4

99

2002

-03

2,12

6,76

343

9,51

610

,676

,843

2,86

5,32

1-

-26

9,67

456

,698

172,

567

35,7

722,

456,

501

696,

441

1,06

6,56

130

4,89

116

,768

,909

4,39

8,54

817

,524

97,0

2521

,943

Apr

-03

362,

157

69,9

391,

291,

493

297,

492

--

54,8

9010

,914

31,1

076,

157

297,

270

74,7

1316

8,55

340

,981

2,20

5,47

050

0,19

625

,010

121,

089

25,8

77

May

-03

325,

784

62,8

261,

354,

581

327,

517

--

53,1

9810

,387

30,1

095,

784

332,

529

88,6

0615

5,84

939

,113

2,25

2,05

053

4,23

325

,440

101,

396

20,0

66

Jun

-03

439,

151

93,4

751,

694,

505

465,

047

9,76

81,

819

55,8

7412

,065

34,8

957,

351

383,

603

113,

026

132,

498

37,3

902,

750,

294

730,

173

34,7

7013

2,38

336

,892

Jul-

0364

1,00

214

7,43

02,

282,

426

705,

146

963

193

87,1

4920

,395

50,6

6911

,634

495,

853

161,

801

162,

501

51,8

953,

720,

563

1,09

8,49

547

,761

254,

332

74,8

11

Aug

-03

990,

731

249,

886

2,62

0,89

791

2,87

650

1096

,875

24,7

6954

,649

13,6

1643

4,52

616

0,27

611

6,37

042

,191

4,31

4,09

81,

403,

625

70,1

8116

1,02

755

,30

0

Sep

-03

1,67

6,35

845

8,61

03,

122,

432

1,13

8,73

50

011

0,01

430

,877

69,9

2019

,250

401,

660

163,

785

101,

555

40,2

525,

481,

939

1,85

1,50

984

,160

192,

544

66,0

84

Oct

-03

1,86

6,40

756

4,35

13,

469,

563

1,46

3,77

10

089

,794

27,6

1360

,330

18,1

2840

5,70

618

5,58

197

,405

44,2

015,

989,

205

2,30

3,64

510

0,15

817

9,67

066

,773

No

v-03

1,55

7,90

949

4,86

22,

761,

725

1,22

4,63

00

071

,696

23,1

3548

,281

15,3

4226

9,03

213

3,13

561

,295

30,6

104,

769,

938

1,92

1,71

496

,086

179,

704

69,1

97

Dec

-03

1,87

5,46

865

3,77

73,

334,

468

1,50

9,32

60

087

,683

31,0

0268

,394

23,5

5229

4,59

614

0,95

163

,426

30,4

605,

724,

035

2,38

9,06

710

8,59

423

0,10

910

0,03

8

Jan

-04

2,61

1,64

999

8,77

63,

791,

114

1,95

7,88

30

010

5,43

141

,204

72,8

6927

,929

327,

135

178,

041

67,8

2536

,797

6,97

6,02

33,

240,

630

154,

316

182,

708

76,1

58

Feb

-04

2,33

9,95

086

3,59

02,

868,

432

1,61

4,63

90

098

,938

37,5

3674

,933

27,9

1223

8,51

713

8,73

175

,771

45,9

845,

696,

541

2,72

8,39

214

3,60

016

6,79

470

,504

Mar

-04

2,50

5,10

288

7,10

13,

777,

206

1,44

2,43

10

013

2,35

248

,115

92,3

6433

,567

367,

722

143,

090

131,

874

50,5

097,

006,

620

2,60

4,81

311

8,40

123

5,79

271

,876

2003

-04

17,1

91,6

685,

544,

625

32,3

68,8

4213

,059

,493

10,7

812,

022

1,04

3,89

431

8,01

168

8,52

021

0,22

24,

248,

149

1,68

1,73

61,

334,

922

490,

384

56,8

86,7

7621

,306

,492

83,8

8423

5,79

271

,876

Apr

-04

2,16

4,52

879

5,60

33,

829,

403

1,21

0,47

80

011

5,37

843

,469

80,7

3329

,681

292,

628

96,4

0185

,998

27,3

636,

568,

668

2,20

2,99

511

0,15

024

9,84

576

,677

May

-04

2,55

1,98

582

1,49

43,

322,

799

926,

276

00

196,

198

68,2

3810

0,43

034

,689

246,

630

77,1

7163

,156

19,7

626,

481,

198

1,94

7,62

992

,744

179,

487

46,9

58

Jun

-04

2,15

2,64

464

0,17

13,

125,

283

783,

916

00

158,

784

49,1

4111

7,04

135

,589

193,

687

53,3

9575

,380

20,8

435,

822,

819

1,58

3,05

571

,957

201,

871

53,6

73

Jul-

041,

971,

231

611,

250

3,49

2,77

494

0,09

20

018

9,17

960

,590

124,

352

38,5

6126

2,75

576

,138

94,2

2226

,823

6,13

4,51

31,

753,

454

79,7

0220

6,70

959

,639

Aug

-04

1,80

3,26

357

9,26

33,

577,

911

995,

909

00

127,

779

41,9

2198

,618

31,9

2728

4,01

384

,991

86,9

1926

,044

5,97

8,50

31,

760,

057

80,0

0326

1,18

573

,317

Sep

-04

1,46

3,68

249

5,00

13,

768,

178

1,07

1,23

40

012

4,54

742

,825

93,8

0831

,642

365,

187

107,

626

116,

304

35,4

695,

931,

706

1,78

3,79

681

,082

446,

299

133,

535

Oct

-04

1,32

0,17

347

1,90

63,

660,

047

1,11

6,95

10

013

8,09

950

,298

97,6

2835

,003

357,

625

116,

838

93,3

4231

,241

5,66

6,91

41,

822,

237

91,1

1232

1,54

598

,451

No

v-04

1,02

3,11

138

2,77

03,

600,

135

1,13

5,24

60

013

1,21

849

,794

102,

223

38,1

3536

3,15

811

9,71

094

,810

32,3

905,

314,

655

1,75

8,04

587

,902

371,

842

122,

392

Dec

-04

1,44

7,46

458

3,33

05,

238,

498

1,79

3,86

70

013

0,55

753

,553

108,

650

43,5

6148

1,34

916

9,51

510

8,95

138

,449

7,51

5,46

92,

682,

275

116,

621

426,

606

152,

211

Jan

-05

1,93

1,29

076

1,50

84,

551,

564

1,59

5,64

20

017

6,68

271

,877

143,

416

57,8

5736

2,34

513

5,01

781

,618

30,9

987,

246,

915

2,65

2,89

913

9,62

638

8,35

413

6,03

7

Feb

-05

1,72

9,10

371

5,45

64,

167,

787

1,51

7,42

80

016

8,59

471

,280

144,

627

59,9

8236

7,70

713

8,90

283

,843

32,4

656,

661,

661

2,53

5,51

412

6,77

640

4,80

914

9,00

5

Mar

-05

2,07

6,97

586

3,98

34,

708,

687

1,75

3,63

50

021

3,63

290

,743

211,

385

89,1

7936

9,89

514

4,95

511

3,59

046

,075

7,69

4,16

42,

988,

571

135,

844

592,

646

210,

523

2004

-05

21,6

35,4

497,

721,

735

47,0

43,0

6614

,840

,674

00

1,87

0,64

769

3,72

91,

422,

911

525,

807

3,94

6,97

91,

320,

660

1,09

8,13

336

7,92

177

,017

,185

25,4

70,5

2610

0,67

459

2,64

621

0,52

3

Apr

-05

3,33

2,36

165

5,98

14,

225,

623

1,06

1,28

90

036

1,54

472

,946

295,

020

59,8

0530

7,99

482

,032

105,

955

27,6

388,

628,

497

1,95

9,69

097

,984

576,

056

122,

430

May

-05

3,54

5,97

170

4,65

34,

466,

404

1,12

8,82

30

038

2,53

077

,258

353,

975

70,5

6028

8,13

776

,415

100,

602

26,0

949,

137,

619

2,08

3,80

394

,718

670,

705

158,

634

Jun

-05

3,62

6,28

877

2,18

25,

783,

428

1,63

0,95

60

042

1,48

090

,919

331,

753

70,4

1338

5,64

011

6,77

210

4,47

831

,220

10,6

53,0

672,

712,

461

117,

933

997,

984

245,

448

Jul-

053,

451,

684

773,

987

6,53

7,79

41,

996,

376

00

358,

867

81,2

9738

9,15

486

,423

376,

129

117,

352

84,9

8926

,227

11,1

98,6

173,

081,

662

154,

083

1,02

4,74

927

1,97

6

Aug

-05

4,27

8,82

91,

008,

132

7,12

4,26

62,

348,

166

00

444,

294

106,

199

485,

001

113,

723

350,

370

119,

352

81,4

5327

,502

12,7

64,2

133,

723,

073

169,

231

892,

678

247,

879

Sep

-05

4,70

1,77

41,

189,

051

6,99

5,16

92,

369,

450

00

523,

948

133,

697

583,

081

145,

498

363,

872

129,

171

85,8

9730

,695

13,2

53,7

413,

997,

562

190,

360

783,

718

230,

629

Oct

-05

6,84

9,73

21,

701,

003

6,52

6,91

92,

143,

982

00

695,

311

176,

322

715,

208

179,

542

309,

120

107,

530

80,1

3428

,222

15,1

76,4

244,

336,

601

216,

830

803,

773

210,

831

No

v-05

5,23

8,17

51,

354,

777

6,25

2,73

62,

165,

257

00

595,

900

155,

818

604,

657

154,

908

287,

136

100,

691

77,0

5227

,077

13,0

55,6

563,

958,

528

197,

926

821,

223

241,

655

Dec

-05

6,61

3,03

21,

832,

931

7,57

1,37

72,

802,

833

00

775,

216

218,

616

764,

964

211,

253

361,

268

136,

301

95,2

6136

,140

16,1

81,1

185,

238,

073

238,

094

808,

768

253,

231

Jan

-06

5,76

0,99

91,

661,

273

7,13

4,19

92,

650,

419

00

663,

684

193,

916

666,

782

191,

294

365,

493

142,

648

90,5

6236

,287

14,6

81,7

194,

875,

837

243,

792

925,

680

300,

780

Feb

-06

5,18

6,83

51,

563,

590

7,44

3,17

82,

887,

148

00

506,

714

155,

261

559,

682

168,

049

326,

233

123,

502

75,7

4029

,175

14,0

98,3

824,

926,

724

259,

301

1,02

3,34

334

4,00

1

Ap

r -

Feb

06

52,5

85,6

8013

,217

,560

70,0

61,0

9323

,184

,698

00

5,72

9,48

81,

462,

249

5,74

9,27

71,

451,

468

3,72

1,39

21,

251,

765

982,

123

326,

275

138,

829

,053

40,8

94,0

1517

8,57

61,

023,

343

344,

001


26

ANNEXURE XISETTLEMENT STATISTICS IN F&O SEGMENT

(In Rs. million)

Index/Stock Futures Index/Stock OptionsMonth/Year Total

MTM Final Premium Exercise

Settlement Settlement Settlement Settlement

* Balance at the end of period

2000-01 840.84 19.29 -- -- 860.13

2001-02 5,052.49 219.25 1,647.58 939.46 7,858.79

2002-03 17,379.02 457.60 3,312.11 1,958.83 23,108.56

Apr-03 2,058.06 47.93 459.95 300.07 2,866.01

May-03 1,635.92 57.42 380.39 304.30 2,378.03

Jun-03 2,202.33 38.58 487.81 464.99 3,193.71

Jul-03 3,897.88 80.24 694.32 447.68 5,120.12

Aug-03 5,696.01 85.82 773.16 588.14 7,143.14

Sep-03 10,318.74 92.38 781.23 304.09 11,496.44

Oct-03 11,880.49 141.09 991.48 603.07 13,616.13

Nov-03 9,393.49 238.60 634.00 221.13 10,487.22

Dec-03 9,054.58 178.99 699.91 410.95 10,344.44

Jan-04 26,682.05 128.24 1074.58 426.73 28,311.59

Feb-04 13,296.98 164.00 682.56 244.20 14,387.74

Mar-04 12,103.23 136.18 930.00 445.84 13,615.25

2003-04 108,220 1,389 8,589 4,761 122,959.81

Apr-04 8,372.79 156.72 647.04 252.90 9,429.45

May-04 25,561.30 134.70 912.90 358.20 26,967.10

Jun-04 5,352.50 200.50 468.10 98.50 6,119.60

Jul-04 4,511.50 151.40 721.30 427.70 5,811.90

Aug-04 5,480.10 86.60 509.00 146.50 6,222.20

Sep-04 4,801.20 126.30 562.10 397.40 5,887.00

Oct-04 8,378.20 231.80 685.00 310.00 9,605.00

Nov-04 6,911.70 102.10 768.20 419.50 8,201.50

Dec-04 12,385.80 223.10 1,040.90 565.40 14,215.20

Jan-05 23,176.90 317.40 963.60 423.70 24,881.60

Feb-05 9,916.30 106.20 963.50 393.00 11,379.00

Mar-05 15,393.50 438.20 1,169.00 765.90 17,766.60

2004-05 130,241.79 2,275.02 9,410.64 4,558.70 146,486.15

Apr-05 17,369.10 311.50 828.30 303.20 18,812.10

May-05 9,436.90 417.40 725.40 449.50 11,029.20

Jun-05 10,957.90 351.80 931.60 713.20 12,954.50

Jul-05 15,675.20 384.90 928.60 588.50 17,577.20

Aug-05 25,448.00 365.60 1,189.40 267.80 27,270.80

Sep-05 23,667.00 173.10 1,359.10 958.50 26,157.70

Oct-05 34,791.00 1,204.60 1,439.20 792.00 38,226.80

Nov-05 18,314.00 321.70 1,226.30 757.10 20,619.10

Dec-05 24,878.00 227.40 1,397.20 670.50 27,173.10

Jan-06 20,346.00 1,071.70 1,395.20 520.60 23,333.50

Feb-06 18,866.00 444.70 1,466.80 568.60 21,346.10

Apr - Feb 06 219,749.10 5,274.40 12,887.10 6,589.50 244,500.10

27


ANNEXURE XIIITOP 10 SECURITIES ON THE WDM SEGMENT: FEBRUARY 2006

ANNEXURE XIIBUSINESS GROWTH ON THE WDM SEGMENT

Security Type Security Name Issue Name No. of Trades Trading Value % of

(Rs. mn.) Trading Value

GS CG2017 8.07% 824 43,450 26.36

GS CG2035 7.40 % 254 17,179 10.42

GS CG2011 9.39% 210 13,443 8.15

GS CG2017 7.46% 125 9,561 5.80

GS CG2009 6.96% 71 5,700 3.46

GS CG2021 10.25 % 74 5,050 3.06

GS CG2008 12% 21 3,746 2.27

DB HDFC10A 7.25 % 13 3,330 2.02

GS CG2007 11.90 % 18 3,250 1.97

GS CG2022 8.35 % 36 3,200 1.94

Total of top ten securities 1,646 107,910 65.45

Total 2,075 164,854 100.00

Month/Year Number of Trading Value Average Daily Average Trade

Trades (Rs. mn.) Trading Value (Rs. mn.) Size (Rs. mn.)

Jun 94 - Mar 95 1,021 67,812 350 66.421995-96 2,991 118,677 408 39.681996-97 7,804 422,776 1,453 54.171997-98 16,821 1,112,633 3,850 66.151998-99 16,092 1,054,691 3,650 65.541999-00 46,987 3,042,160 10,350 64.742000-01 64,470 4,285,818 14,830 66.482001-02 144,851 9,471,905 32,775 65.392002-03 167,778 10,687,011 35,983 63.70Apr-03 15,512 1,010,522 48,120 65.14May-03 18,651 1,233,590 51,400 66.14Jun-03 18,400 1,266,717 50,669 68.84Jul-03 18,220 1,310,268 48,528 71.91Aug-03 22,753 1,627,371 65,095 71.52Sep-03 17,157 1,251,987 48,153 72.97Oct-03 20,465 1,434,039 59,752 70.07Nov-03 11,737 809,029 35,175 68.93Dec-03 12,529 839,059 32,272 66.97Jan-04 11,407 775,328 29,820 67.97Feb-04 8,675 614,989 27,954 70.89Mar-04 14,017 988,064 39,523 70.492003-04 189,523 13,160,962 44,765 69.44Apr-04 19,075 1,334,778 60,672 70.00May-04 13,097 913,397 38,058 69.74Jun-04 11,382 824,528 31,712 72.44Jul-04 9,303 660,125 24,449 70.96Aug-04 9,241 638,063 25,523 69.05Sep-04 12,659 876,945 35,078 69.27Oct-04 8,437 557,698 24,248 66.10Nov-04 5,767 455,414 19,801 79.00Dec-04 10,321 725,933 27,920 70.34Jan-05 8,384 612,049 25,502 73.00Feb-05 10,156 735,883 30,662 72.46Mar-05 6,486 538,124 22,422 82.972004-05 124,308 8,872,937 30,387 71.38Apr-05 6,079 546,165 24,826 89.84May-05 9,376 701,135 28,045 74.78Jun-05 14,213 961,083 36,965 67.62Jul-05 8,042 523,090 20,924 65.04Aug-05 5,361 447,174 17,887 83.41Sep-05 4,127 319,599 12,784 77.44Oct-05 2,987 253,872 12,089 84.99Nov-05 2,822 243,597 12,180 86.32Dec-05 2,505 207,711 9,441 82.92Jan-06 2,572 216,071 10,804 84.01Feb-06 2,075 164,854 8,677 79.45Apr - Feb 06 60,159 4,584,349 18,337 76.20


28

ANNEXURE XIVNSE MIBID/MIBOR RATES

Note: ** 14 Day : Disseminated since November 10, 1998.

*** 1 month : Disseminated since December 1, 1998.

*** 3 month : Disseminated since December 1, 1998

MONTH/ OVERNIGHT* 14 DAY** 1 MONTH RATE*** 3 MONTH RATE***

DATE AT 9.40 A.M. AT 11.30 A.M. AT 11.30 A.M. AT 11.30 A.M.

MIBID MIBOR MIBID MIBOR MIBID MIBOR MIBID MIBOR

15-Jun-98 5.10 5.25 – – – – – –10-Nov-98 8.02 8.09 8.30 9.02 – – – –1-Dec-98 8.00 8.06 8.44 8.97 9.20 9.83 10.28 10.9431-Mar-99 10.87 12.97 9.09 10.06 9.44 10.35 10.30 11.2031-Mar-00 14.1 16.52 9.98 10.93 9.9 10.82 9.96 10.9631-Mar-01 10.22 12.18 9.03 9.89 9.08 9.86 9.26 10.2530-Mar-02 7.44 11.09 7.41 8.06 7.39 8.05 7.63 8.2931-Mar-03 6.69 7.13 5.66 6.3 5.83 6.37 5.73 6.3630-Apr-03 4.61 4.88 5.00 5.32 5.18 5.51 5.33 5.7631-May-03 4.78 4.96 4.93 5.26 5.03 5.36 5.19 5.6028-Jun-03 4.76 4.99 4.91 5.14 4.96 5.30 5.14 5.5231-Jul-03 4.83 5.00 4.97 5.13 5.01 5.23 5.06 5.3930-Aug-03 4.37 4.50 4.50 4.66 4.53 4.73 4.69 4.9430-Sep-03 4.45 4.59 4.41 4.63 4.49 4.73 4.64 4.9431-Oct-03 4.42 4.53 4.69 4.96 4.73 5.02 4.82 5.2129-Nov-03 4.25 4.48 4.47 4.62 4.54 4.70 4.66 4.9331-Dec-03 4.31 4.50 4.45 4.62 4.5 4.72 4.66 4.9131-Jan-04 4.27 4.49 4.47 4.67 4.57 4.77 4.70 5.0028-Feb-04 4.29 4.47 4.45 4.63 4.56 4.72 4.72 5.0031-Mar-04 4.30 4.51 4.44 4.68 4.57 4.82 4.73 5.0530-Apr-04 4.11 4.46 4.37 4.55 4.45 4.65 4.59 4.9031-May-04 4.27 4.50 4.35 4.55 4.44 4.64 4.56 4.8329-Jun-04 4.24 4.49 4.33 4.51 4.41 4.62 4.55 4.8331-Jul-04 4.22 4.49 4.37 4.56 4.46 4.67 4.62 4.8931-Aug-04 4.25 4.46 4.44 4.65 4.53 4.76 4.67 4.9429-Sep-04 4.45 4.59 4.5 4.69 4.58 4.81 4.74 5.0330-Oct-04 4.68 4.84 4.78 5.03 4.85 5.11 5.00 5.3130-Nov-04 4.74 4.85 4.99 5.30 5.05 5.39 5.16 5.5731-Dec-04 5.54 5.78 5.22 5.49 5.20 5.48 5.38 5.6831-Jan-05 4.69 4.80 4.87 5.13 5.00 5.30 5.35 5.7028-Feb-05 4.66 4.77 4.87 5.25 5.01 5.51 5.44 6.1031-Mar-05 4.77 4.92 5.06 5.46 5.23 5.63 5.62 6.1130-Apr-05 4.90 5.04 5.13 5.33 5.28 5.55 5.56 5.9831-May-05 4.97 5.06 5.14 5.33 5.27 5.51 5.49 5.9330-Jun-05 5.51 5.69 5.32 5.46 5.39 5.63 5.6 5.9430-Jul-05 4.80 5.02 5.05 5.27 5.22 5.50 5.54 6.0231-Aug-05 4.97 5.05 5.20 5.36 5.32 5.51 5.66 5.9630-Sep-05 5.03 5.14 5.32 5.53 5.46 5.73 5.71 6.0631-Oct-05 5.26 5.33 5.35 5.47 5.48 5.65 5.85 6.1030-Nov-05 5.32 5.43 5.56 5.82 5.68 5.98 5.98 6.3031-Dec-05 6.83 7.03 6.25 6.76 6.20 6.78 6.27 6.8831-Jan-06 7.35 7.56 6.92 7.42 7.08 7.53 7.08 7.6201-Feb-06 7.09 7.31 6.91 7.32 7.10 7.48 7.12 7.5902-Feb-06 6.95 7.18 6.80 7.21 6.96 7.36 7.08 7.6103-Feb-06 6.77 7.02 6.83 7.25 6.95 7.40 7.05 7.5704-Feb-06 6.72 6.99 6.79 7.28 6.93 7.38 7.05 7.5806-Feb-06 7.05 7.27 6.91 7.37 7.02 7.46 7.04 7.5807-Feb-06 7.01 7.23 6.95 7.33 7.06 7.43 7.12 7.6208-Feb-06 7.00 7.20 7.00 7.36 7.11 7.45 7.17 7.6010-Feb-06 7.00 7.17 6.87 7.36 6.99 7.48 7.09 7.6611-Feb-06 6.92 7.14 6.77 7.18 6.85 7.27 7.09 7.5413-Feb-06 6.99 7.14 6.79 7.21 6.90 7.35 7.18 7.6714-Feb-06 7.02 7.22 6.87 7.24 6.95 7.39 7.19 7.6315-Feb-06 7.04 7.24 6.83 7.23 6.91 7.39 7.13 7.6716-Feb-06 6.85 7.04 6.76 7.20 6.85 7.31 7.06 7.6217-Feb-06 6.64 6.86 6.87 7.30 6.95 7.39 7.18 7.6818-Feb-06 6.66 6.99 6.79 7.15 6.90 7.26 7.16 7.5820-Feb-06 6.97 7.16 6.90 7.21 6.95 7.32 7.15 7.6221-Feb-06 6.94 7.12 6.89 7.27 6.91 7.39 7.13 7.6722-Feb-06 6.88 7.04 6.80 7.24 6.91 7.39 7.18 7.7323-Feb-06 6.78 6.96 6.79 7.25 6.90 7.40 7.10 7.7024-Feb-06 6.74 6.89 6.89 7.29 6.99 7.39 7.21 7.7025-Feb-06 6.78 6.95 6.81 7.28 6.92 7.40 7.12 7.7027-Feb-06 6.66 6.82 6.83 7.28 6.94 7.42 7.22 7.7728-Feb-06 6.61 6.73 6.80 7.15 6.92 7.31 7.20 7.65

29


ANNEXURE XVDISPOSAL OF INVESTOR GRIEVANCES : FEBRUARY 2006

I. Complaints against Trading Members/Companies

Sl. No. Details of complaints Trading Members Companies

Jan-06 Feb-06 Jan-06 Feb-06

1 Received during the month 72 91 72 122

2 Carried forward from earlier month 262 227 401 366

3 Resolved 107 79 107 219

4 Pending at the end of the month 227 239 366 269

II. List of Companies with more than 5 complaints pending for more than 2 months

Sl. No. Name of the Trading Member/Companies No. of Complaints on February 28, 2006 Remarks

Trading Members

1 Indiabulls Securities Ltd. 20 --

2 Apollo SindhooriCapital Investments Ltd. 10 --

3 Kotak Securities Ltd. 7 --

4 India Infoline Securities Pvt. Ltd. 6 --

5 Indight Shae Brokers Pvt. Ltd. 6 --

Companies1 Oil and Natural Gas Corp. Ltd. 8 Traded

2 Tata Metaliks Ltd. 5 Traded

ANNEXURE XVISTATUS REPORT OF ARBITRATION MATTERS : FEBRUARY 2006

I. Year-Wise Statistics of Cases Pending

Calendar Year Total No. of Cases Withdrawn Awards Pending

1998 CM 164 2 161 11999 CM 153 5 144 41999 WDM 2 0 1 12001 CM 342 19 322 12004 CM 119 6 112 12005 CM 138 3 114 212005 F&O 66 0 56 102006 CM 34 0 0 342006 F&O 4 0 1 13

(No. of cases)

II. Details of Arbitration Matters

Opening Balance Received Award passed Withdrawn

88 14 16 86

IV. Segmentwise Break-Up

Segment Opening Balance Received Award passed Pending

CM 67 6 11 62F&O 20 8 5 23WDM 1 0 0 1Total 88 14 16 86

V. Segmentwise/Centrewise Pending Status

Segment/Centre Mumbai Delhi Kolkata Chennai Total

CM 22 21 5 14 62F&O 6 12 2 3 23WDM 1 0 0 0 1Total 29 33 7 17 86

III. Centrewise Break-Up

Regions Opening Balance Received Award passed Pending

Mumbai 29 3 3 29Delhi 27 10 4 33Kolkata 10 0 3 7Chennai 22 1 6 17Total 88 14 16 86


30

ANNEXURE XVIILIST OF CITIES AND VSATs AT THE END OF FEBRUARY 2006

*Indicates cities which have a Regional Stock Exchange.** Cities activated in February 2006.

STATE / UTs LIST OF TOWNS AND CITIES NO. OF NO. OF

CITIES VSATs

Andhra Pradesh Amalapuram, Anantapur,Ankapalle, Bhimavaram, Chirala, Cuddapah, Eluru, Gujuwaka, Gudiwada,Guntur, Hindupur, *Hyderabad, Kakinada, Kukatpally, Kurnool,Markapur, Narsapur, Narsaraopeta,Nellore,Ongole, Palakol, Proddatur, Rajamundry, Secundarabad, Srikakulam, Tadepalligudem, Tadipatri,Tanuku, Tenali, Tirupathi, Vazanagaram, Vijayawada, Vizag,Warangal, Madanpalle,Chilakaluripeta,Iduguralla

Assam *Guwahati, Silchar.

Bihar Begusarai, Bhagalpur, Gaya, Muzzaffarpur, *Patna,Sitamarhi, Chhapra

Chhattisgarh Bilaspur, Korba, Raipur

Delhi *Delhi.

Goa Mapusa, Panaji, Margoa

Gujarat *Ahmedabad, Anand, *Baroda, **Bharuch, Bhavnagar, Bhuj, Botad, Dahod, Dhoraji, Dhrangadhra,Gandhidham, Gandhinagar, Jamnagar, Junagadh, Kadi, Kheda**, Mehsana, Morbi, Nadiad, Navsari,Okha, Patan, Petlad, Porabander, *Rajkot, Surajkaradi, Savarkundla, Surat, Surendranagar, Una, Unjha,Valsad, Vapi, Veraval, Visnagar,Keshod

Haryana Ambala , Bahadurgarh, Bhiwani, Fatehabad, Faridabad, Ganaur, Gohana, Gurgaon, Hissar, Jagadhri,Jind, Kaithal, Karnal, Kurukshetra, Narwana, Panchkula, Panipat, Rewari, Rohtak, Sirsa, Sonepat,Yamuna Nagar, Tohana

Himachal Pradesh Shimla.

Jammu & Kashmir Jammu, Srinagar.

Jharkhand Bokaro, Bhaga, Dhanbad,Giridih, Jamshedpur, Ranchi

Karnataka Arsikere, *Bangalore, Bellary, Challakere, Chitradurga, Hassan, Hubli, Kumta, *Mangalore, Manipal,Mysore, Sagar, Shimoga, Udupi,

Kerala Alleppey, Angamaly, Calicut, Ernakulam, Guruvaryur, Irinjalakuda, Kannur, Kasargod,Karunagapally, *Kochi, Kodungallore, Kollam, Kottayam, Mavelikara,Kottarkara, Muvattupuzha,Pala, Palakad, Pathanamthitta,Thalassery, Thiruvalla, Thodupuzha, Thrissur, Thiruvananthapuram(Trivandrum)

Madhya Pradesh Bhilai, Bhopal, Gwalior, *Indore, Jabalpur, Katni, Nagda, Neemuch, Ratlam, Ujjain, Satna, Rewa,Chhindwada,Chhatarpur, **Sidhi

Maharashtra Ahmednagar, Akola, Amravati, Ichalkaranji , Jalgaon, Kolhapur, Kopargaon, *Mumbai, Nagpur, Nashik,*Pune, Satara, Solapur,

Manipur Imphal

Orissa Berhampur,*Bhubaneshwar, Cuttack, Jaraka**, Jeypore ,Rourkela

Punjab Amritsar, Bathinda, Chandigarh, Fazilka, Faridkot**, Hoshiyarpur, Jalandhar, Khanna, *Ludhiana,Mansa, Moga, Mohali, Muktasar, Nabha, Pathankot, Patiala, Barnala, Abohar, Kotkapura, Batala,Sangrur,Gurdaspur, Kapurthala,Sunam,Rampuraphul

Rajasthan Ajmer, Alwar, Bharatpur, Bhilwara, Bikaner, Falna, *Jaipur, Jodhpur, Kota, Udaipur, Sujangarh, Makrana,Nokha, Pratapgarh, Beawar, Salasar, SardarShahar, Sri Ganganagar, Dungarpur, Kankroli

Tamil Nadu *Chennai, *Coimbatore, Erode, Karaikal, Karaikudi, Karur, Kumbakonam, Madurai, Nagercoil,Namakkal, Neyveli, Salem, Sivakasi, Thanjavur, Tirunelveli, Trichy, Tuticorin, Hosur, Vellore,Gobichettipalayam, Gudiyatham, Dharapuram, Pollachi, Thiruvannamalai

Tripura Agaratala

Union Territory Pondicherry

Uttar Pradesh Agra, Aligarh, Allahabad, Bahraich, Banda, Bareilly, Chandausi, Firozabad, Gorakhphur, Ghaziabad,Jhansi, Kurja, Kasganj,*Kanpur, Lucknow, Mathura, Meerut, Moradabad, Muzzafararnagar, Najibabad,Modinagar, Rishikesh, Roorkee, Renukoot, Saharanpur, Varanasi, Bulandshar, Shahjahanpur, Hapur,Rampur, Mussoorie, Sahibabad, Haldwani,khatauli, Baghpat, Sambhal, Mirzapur

Uttaranchal Dehradun, Haridwar, Nainital, Rudrapur, Ramnagar, Sitarganj

West Bengal Asansol, *Kolkatta, Siliguri, Durgapur, Purulia, Jalpaiguri, Raniganj, Medinipur ,Coochbehar ,Burdwan

Total

37 186

2 5

7 23

3 13

1 501

3 7

35 194

22 105

1 1

2 9

6 24

14 95

23 91

15 73

13 620

1 1

6 10

25 107

20 131

24 170

1 1

1 2

37 183

6 14

10 221

315 2,787

31


National Stock Exchange of India Limited (NSE)invites research proposals with a view to developinginformation base and insight in to the working ofsecurities market in India.

Objective: The objective of the NSE ResearchInitiative is to foster research which can support andfacilitate (a) Stock exchanges to design market micro- structure (b) Participants to frame their strategiesin the market place (c) Regulators to frameregulations (d) Policy makers to formulate policy and(e) To broaden the horizon of knowledge about thesecurities market.

Broad Areas of Research: Research proposals onissues having a bearing on the securities market inIndia are welcome. Proposals may be in any areaincluding market micro-structure and market design,information infrastructure, market efficiency, assetpricing, fund management, corporate finance, fixedincome market, derivatives, risk measurement andmanagement, policies and regulations, investorprotection, etc.

Proposal: Brief and focussed research proposalsof about 1000-1500 words may bee-mailed on [email protected]. The proposalshould present a well-posed issue and a researchstrategy through which this issue will be addressed.The proposal may seek to address specific issuessuch as (a) How does inclusion or exclusion fromthe market index impact on the liquidity, stock priceand cost of capital for firms? (b) How should no-arbitrage models be calibrated on the Indian fixedincome market, and how they can be used to valueoptions on interest rates?

N S ER e s e a r c hI n i t i a t i v e

An opportunity to be at the cutting edge of thesecurities market in India

Please visit the research section in our web sitehttp://www.nseindia.com for a detailed list of issueswhich are considered highly relevant to the NSEResearch Initiative.

Process: On receipt of a proposal it would be sentto two referees for their opinion on its methodologyand relevance. If found suitable, the research wouldcommence and the first tranche of Rs. 25,000 wouldbe released to the researcher. He would be requiredto produce the research paper in three months andmake a presentation in a seminar at NSE. He mayrevise his paper on the basis of the feedbackreceived. The revised paper would be sent for adetailed refereeing. If the work is acceptable, thesecond and final tranche of Rs. 25,000 would bereleased. Accepted papers would be disseminatedon the NSE web site, along with complete associatedmaterials (i.e. proposal, referee reports, chronologyof dates, etc.) NSE would be free to use orredistribute this work in any manner, while fullyacknowledging the authorship.

For further details log in to www.nseindia.com ore-mail [email protected].

THE NATIONAL STOCK EXCHANGE OF INDIA LTD.Exchange Plaza, Bandra Kurla Complex,

Bandra (East), Mumbai - 400 051.Tel. : 2659 8100 - 8114 • Fax: 2659 8120

E-mail : [email protected]


32

NATIONAL STOCK EXCHANGE OF INDIA LIMITED

Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051.• Tel. : 2659 8100 - 8114, 5641 8100 - 108 • Fax : 2659 8120

e-mail address: [email protected] • website : www.nseindia.com

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Ahmedabad 380 006

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KOLKATA

Ideal Plaza, 11/1

Sarat Bose Road, Kolkata 700 020

Tel No: (033) 2280 1202-05, 2280 5950-55

Fax No: (033) 2283 1859, 2280 5957

CHENNAI

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90, Dr. Radhakrishnan Salai

Mylapore, Chennai 600 004

Tel No: (044) 2847 5100 / 2847 3670

Fax No: (044) 2847 3633

DELHI

"Thapar House" Western Wing

Mezzanine Floor, Janpath Lane

124 Janpath, New Delhi 110 001

Tel No: (011) 2334 4313 to 2334 4327

Fax No: (011) 2336 6658

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IInd Floor, Chamber No. 203 & 204,

Basheerbagh, Hyderabad - 500 029

Tel No: (040) 23227084 / 23227085

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