Date:19/05/2006 URL: http://www.thehindubusinessline.com/2006/05/19/stories/2006051904121500.htm

Back Prudential ICICI SPIcE re-enters BSE trade

Our Bureau

Kolkata , May 18

Prudential ICICI SPIcE, which was barred by the Bombay Stock Exchange last year, came back to life on Thursday, following BSE's decision to revoke the suspension of trading in its units.

SPIcE, the exchange-traded fund based on the Sensex, has re-entered the bourse with a circuit limit of 10 per cent of the base price, a move that ends the suspension that came in the wake of a major spiral, seen out of line with its net asset value.

On Thursday, the fund saw a total traded quantity of 10 units, with Rs 125.55 figuring as the last traded price. This, BSE has informed, is a 19.58 per cent decline.

The latest numbers may be seen against what were recorded last by the exchange on May 31, 2005, the session in which it traded at over Rs 156. Incidentally, SPIcE had peaked a day earlier at Rs 270 (that is, on May 30).

Trading modalities

BSE, it may be mentioned, has now defined a few modalities of trading. These include a base price (at 1/100th of the previous day's closing of Sensex) to be set on a daily basis, rounded off to the nearest rupee.

SPIcE, in line with what characterises an exchange-traded fund, can now be purchased and offloaded like any other listed stock on the bourse, subject to the current modalities.