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BSE waits for Clinton eagerly

The Bombay Stock Exchange or BSE -- India's oldest and largest bourse, is all set to welcome the United States President Bill Clinton.

The exchange authorities have ben busy for the arrangements since yesterday, when the Federation of India Chambers of Commerce and Industry or FICCI decided upon the BSE premises as the venue for their meeting with the visiting US President.

"For security reasons, no broker has been allowed to remain on the premises. However, we have recommended the names of our governing board members and trustees to the FICCI officials for being included in the list of invitees during the US President's visit, and I hope they will consider it," BSE vice-president Dina Mehta said.

According to sources, Clinton will be visiting the bourse on March 24 and will stay there for about an hour in connection with the FICCI meeting, scheduled to be held in the trading hall at the bourse.

This is the first-ever visit of an American President to the 125-year-old BSE, an overwhelmed exchange official here informed.

The Clinton euphoria has changed the entire atmosphere at the 28-storied Jeejeebhoy Towers, which houses the country's oldest bourse for last couple days since the brokers and staff members of the BSE spotted security personnel of the US President in and around the BSE.

BSE officials say that the security personnel of the visiting US President kept a close watch on the movements in the entire area here from the last couple of days. However, nobody has an idea how many employees would be allowed to enter the premises on Friday, March 24.

The BSE has already curtailed its trading timing on Friday. According to the tentative programme, trading will begin at 0930 hrs and will end at 1230 hrs, nearly four hours before the regular ending timing of 1530 hrs, stockbrokers said.

Reacting over the presence of foreigners around the building since last couple of days, the staff attached to the BSE brokers were seen discussing the strict security provided here. "We have been witnessing plain clothes foreigners around the BSE building these days. Although we are not sure whether they are part of the US President's security cover, we could simply guess it by their activities," said a BSE official on the condition of anonymity.

Excited by the American President's visit, Raman Parikh, a veteran stockbroker, said, "Yes. We are really proud of Clinton's visit to our bourse."

The veteran broker was not demoralised after receiving the BSE notice, asking them to vacate premises on the day of US President's visit. "It is for security reasons. We must understand," he replied.

Meanwhile security has been beefed up in the entire Dalal Street area in south Mumbai where the BSE building is situated. The outside vendors have already been evacuated from the area for security reasons.

The Brihanmumbai Municipal Corporation or BMC has also carried out repair work of all the sub-roads connecting to the Dalal Street in the past two weeks.

Sources at the BSE also said that the security personnel have also directed the exchange authorities to vacate the premises of the Bank of Baroda or BoB, which also operates one branch from the BSE building.

"We still do not have the final list of people who will be allowed to remain in the BSE premises, everything is being decided as per the advice of FICCI and security personnel of the US President, said a BSE spokesperson.

According to BSE officials, BSE President Anand Rathi conducted a high-level meeting with about 20 brokers on Tuesday afternoon regarding the proposed visit of the US President.

As per the tentative programme, Clinton will visit the BSE between 1900 hrs and 2000 hrs on March 24. He will address industrialists at a meeting organised by FICCI.

The spokesperson at the BSE, however, did not gave any details of the programme.

Meanwhile, the jubilant mood of the marketmen reflected in the trading sentiment at the bourse. The benchmark index of the BSE, Sensex, which was hovering below the 5100 level for last three weeks, suddenly started the upward march this morning and was quoted above 5200 mark at close.

UNI

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