The Securities and Exchange Board of India (Sebi) would launch a project to apply the Application Supported against Blocked Amount (Asba) system for cases pertaining to rights issues. This would start the reform process in the primary capital market. Application Supported against Blocked Amount (Asba) system is currently applicable only to initial public offerings (IPOs) for retail investors only. The rights of Tata Motors and Sadhana Nitro Chem are coming on September 29 and these would also come under ASBA.

Washington, Sept. 27: There is scant public support for President Bush''s 700 billion dollar federal rescue plan for the U. S. financial industry.

Just 30 percent of Americans say they support Bush''s package, according to an Associated Press-Knowledge Networks poll released as White House and congressional leaders struggled to rescue the plan after House Republicans rebelled against it.

Despite the president''s pleas that the package is urgently needed to prevent an economic meltdown, 45 percent say they oppose Bush''s proposal while 25 percent said they are undecided.

Fewer than four in 10 Republicans, three in 10 Democrats and one in 10 independents said they support the package.

Indian equities dropped on yesterday (Sep 26) on account of weak Asian markets as US Congress failed to come out with a conclusion on the $700 billion plan to bail-out its financial segment.

Realty, metal, banking and power stocks recorded huge losses. Each sector plummeted 4-6%. 

Midcap and Smallcap index shed 2.99% and 3.11% respectively.

The 30-share index, BSE Sensex (on Friday) opened negatively at 13,481.85, down 65.33 points, whereas the NSE Nifty opened at 4108.75. 

Washington - British Prime Minister Gordon Brown on Friday endorsed President George W Bush's 700-billion-dollar plan designed to rescue the US financial sector and stave off further turmoil in global markets.

"Britain supports the financial plan. And whatever the details of it, it's the right thing to do to take us through these difficult circumstances," Brown said at a hastily scheduled meeting with Bush at the White House.

Washington - US stocks were mixed Friday as investors awaited congressional approval of a 700-billion-dollar financial rescue plan.

The Standard & Poor's 500 broad-based index rose 4.09 points, or 0.3 per cent, to 1,213.27. The blue chip Dow Jones Industrial Average increased 121.07, or 1.1 per cent, to 1,1143.13. The high tech Nasdaq Composite Index dropped 3.23, or 0.2 per cent, to 2,183.34.

The S&P 500 was down 3.3 per cent on the week and the Dow slipped 2.2 per cent.

Washington - Congress wrestled Friday across party lines over a deeply unpopular financial industry rescue plan as majority Democrats insisted that Republicans get on board before holding a vote.

The White House pulled out all the stops, sending top officials to Capitol Hill, where negotiations continued over the controversial, 700-billion-dollar life raft for Wall Street.

Talks looked likely to continue over the weekend, House Speaker Nancy Pelosi said.

"We'll be in as long as it takes, and we hope it doesn't take long, because the markets need a message from us," she told reporters Friday following another round of meetings on the bailout.