Mon, 26 Sep 1994

Weekly Stock Exchange Review

JAKARTA (JP): Share prices across the board fell last week amidst dull trading activities with sporadic selling orders.

The market maintained its bearish course for the second week, with the Jakarta Stock Exchange (JSX) Composite Index falling by another 13.1 points from the previous week, to close the week at 512.57.

Trading during the week also recorded a lower volume compared to the preceding week, indicating the wait-and-see attitude of investors.

The market's sentiment was also weakened by the a one-day holiday in Hong Kong and worries about another U.S. dollar interest rate hike before the end of the year.

Over the next few weeks, the market is expected to continue its downward drift as both local and foreign investors will likely liquidate their secondary position for the upcoming primary issues.

Five Initial Public Offering (IPO) candidates are expected to be listed in October. They are Bank NISP, Medco, Indosat, Langgeng and Aneka Kimia Raya, which together will raise approximately Rp 973.5 billion in the primary market, including Rp 846.8 billion that must be raised from local investors.

Overall, market fundamentals remained strong with the index predicted to rebound well before the end of the year.

The average daily turnover on the regular board decreased to 7.91 million shares worth Rp 31.40 billion (US$14.40 million) last week from 11.42 million shares worth Rp 45.55 billion in the previous week.

Total turnover for the week also decreased to 115.15 million shares valued at Rp 452.94 billion from 142.39 million shares valued at Rp 531.59 billion in the previous week.

Local investors largely exercised profit taking during the week. They were seen concentrating on counters such as Astra International, Pan Brothers, Indah Kiat, Pakuwon Jati, Inco, Mayatexdian, JIHD and Mas Murni. At the same time, they were carefully selling some of their portfolios to raise funds for the Indosat IPO later this year. Towards the end of the week, however, local bargain hunters started to accumulate liquid stocks that are fundamentally prospective such as Astra International, Duta Anggada, Inco, Ciputra and Jaya Real Property.

Many foreign investors remained sidelined. Investors who came in bought selectively liquid shares which had become bargain-buys following the recent correction.

Counters which saw large foreign activities were Astra International, Hero Supermarket, HM Sampoerna, Dharmala Intiland, Gadjah Tunggal, BDNI, BII, Smart, Mulia Industrindo, Barito Pacific, Indorama, Matahari, Anwar Sierad, Ciputra Development, PSP property, Gudang Garam and Jaya Real Property.

The bonus issue listed last week was Kurnia Kapuas at a ratio of 4-for-5 and 1-for-5 in the form of stock dividends.

Some of last week's best performers were Lippo Land (up Rp 950), Jaya Real Property (up Rp 700), Sumalindo Lestari (up Rp 425), Ciputra Development and Dankos Labs (both up Rp 250) and Plaza Indonesia (up Rp 200).

The biggest losers were P & G Indonesia (down Rp 5,000), Metro Supermarket (down Rp 1,450), Kabelindo (down Rp 1,000), Dynaplast and Aqua Golden (down Rp 800 each) and Voksel Electric (down Rp 500). Losers outnumbered gainers by 96 to 23, while 22 remained unchanged.

-- Sigma Batara

MARKET PER AS OF SEPT. 23

PER PER P/BV

Price Previous Change Volume Value 1993 1994 FY93

week

Company Name (Rp) (Rp) (+/-Rp) (Shares) (Rp) (x) (x) (x)

ABDA ''' 1,500 1,500 0 0 0 36.4 19.7 0.70 Ades Alfindo PS ''' 2,625 2,525 100 46,000 118,562,500 n/a 9.8 1.27 AHAP Ins. ''' 3,450 3,450 0 0 0 18.9 10.7 2.00 ALKASA ''' 1,200 1,125 75 26,500 31,325,000 41.7 21.5 1.16 **^ Aqua Golden ''' 4,300 5,100 -800 1,000 4,487,500 9.7 8.8 1.82 Andayani Megah ' 4,725 4,950 -225 255,500 1,219,350,000 26.1 9.9 2.08 **^ Anwar Sierad ''' 4,175 4,225 -50 487,000 2,046,287,500 23.4 11.3 1.67 Argha Karya PI ' 3,175 3,400 -225 228,500 748,100,000 26.2 15.0 1.92 **^ Argo Pantes ''' 2,750 2,775 -25 25,000 69,250,000 78.7 26.8 1.23 **^ Aster Dharma ''' 1,125 1,150 -25 5,500 6,312,500 31.7 10.9 0.69 Astra Graphia ''' 4,500 4,500 0 0 0 13.3 11.3 0.98 **^ Astra Internat. ' 3,575 3,775 -200 1,628,500 5,852,162,500 29.3 18.2 1.97 **^ Asur Bintang ''' 2,450 2,450 0 0 0 20.6 16.1 0.81 **^ Asur Dayin M ''' 2,400 2,400 0 0 0 12.2 10.7 1.28 **^ Asur Ramayana ''' 5,250 5,250 0 0 0 17.4 7.5 1.95 **^ Bakrie Bros '' 6,800 7,200 -400 500 3,400,000 12.9 13.9 14.15 **^ Bakrie Sum Pl ''' 3,375 3,525 -150 185,500 658,012,500 10.3 8.2 0.85 Bank Bali ''' 5,950 6,050 -100 21,000 122,975,000 21.1 16.1 3.22 **^ Bank BIRA ''' 2,450 2,500 -50 64,000 158,400,000 n/a 11.6 2.59 **^ Bank Danamon ' 3,000 3,050 -50 487,000 1,456,112,500 27.8 17.8 1.85 **^ Bank Duta ''' 2,500 2,600 -100 87,500 225,925,000 27.6 14.9 1.29 **^ Bank Int. Ind. ' 7,000 7,300 -300 10,000 70,000,000 24.3 14.7 2.74 **^ Bank Mashill '' 2,000 2,225 -225 381,500 801,712,500 n/a 7.1 1.10 **^ Bank Niaga ''' 9,150 9,100 50 46,000 416,387,500 20.2 13.3 2.16 **^ Bank Papan '' 2,575 2,650 -75 126,500 324,912,500 n/a 14.2 1.48 **^ Bank PDFCI ''' 2,375 2,500 -125 52,000 126,812,500 16.2 10.8 1.25 **^ Bank Rama ''' 2,375 2,375 0 10,000 23,750,000 n/a 12.4 3.14 **^ Bank Surya ''' 2,950 2,950 0 10,000 29,500,000 21.3 15.2 1.92 **^ Bank Tiara '' 4,100 4,000 100 350,000 1,381,762,500 28.8 15.3 2.34 **^ Bank Umum Nas. ''' 2,800 2,800 0 500 1,400,000 20.9 12.7 1.62 **^ BAT ''' 4,800 4,850 -50 2,500 12,000,000 9.8 6.3 1.74 Barito Pacific ' 3,750 3,900 -150 969,500 3,710,325,000 28.9 26.4 2.89 Bayer Ord. ''' 2,300 2,300 0 0 0 6.5 4.4 1.11 **^ Bayer Pref. ''' 2,300 2,300 0 0 0 0.0 0.0 0.00 Bayu Buana ''' 3,425 3,450 -25 176,000 596,775,000 50.7 9.1 1.91 **^ BBL Dharmala ''' 4,275 4,225 50 1,500 6,412,500 12.0 15.1 3.52 **^ BDNI ' 3,675 3,850 -175 1,316,500 4,914,787,500 28.6 15.1 1.73 **^ Berlian Laju Tanker 2,000 2,275 -275 130,000 279,350,000 21.9 8.4 1.03 **^ Berlina ''' 2,000 2,000 0 80,500 164,437,500 21.8 10.0 1.09 **^ Bintang Kharisma ' 2,950 2,950 0 175,000 516,250,000 n/a 9.8 3.83 **^ Branta Mulia ''' 3,600 3,600 0 60,000 208,375,000 26.7 22.3 2.39 **^ Bumi Modern ''' 1,700 1,700 0 0 0 30.9 17.0 0.72 Bunas Finance ''' 2,400 2,500 -100 94,500 225,575,000 16.8 14.8 3.91 **^ Centex ''' 2,000 2,000 0 0 0 4.3 2.0 0.40 **^ CP Indonesia ''' 9,500 9,500 0 0 0 17.7 14.6 4.52 ^^* Cipendawa ''' 3,150 3,150 0 17,000 53,550,000 18.2 11.2 1.96 **^ Ciputra Development 6,500 6,250 250 1,145,000 7,337,225,000 n/a 16.2 2.89 **^ Citra Tubindo ''' 3,700 3,700 0 0 0 n/a n/a 4.45 Clipan Finance ''' 4,700 4,700 0 0 0 12.6 8.8 1.54 ^^* Concord Benefit '' 4,600 4,600 0 5,000 23,000,000 17.8 12.2 2.27 CP Prima ' 2,900 2,950 -50 22,500 65,375,000 33.7 13.5 1.64 **^ Dankos Labs. ''' 11,250 11,000 250 47,500 533,150,000 18.5 31.1 6.51 **^ Delta Djakarta ''' 5,000 5,000 0 10,000 50,000,000 8.5 5.8 1.86 **^ Dharmala Inti. ' 3,200 3,225 -25 1,337,000 4,281,650,000 43.2 14.4 2.36 **^ Dharmala Sak.Sej. 2,000 2,225 -225 264,500 545,975,000 17.7 14.9 2.33 **^ Dharmindo Adhiduta 975 1,000 -25 32,000 30,800,000 266.7 70.2 0.58 Duta Anggada ' 4,025 4,400 -375 2,791,000 11,113,412,500 78.5 13.6 1.80 **^ Duta Pertiwi ''' 1,725 1,825 -100 21,000 36,162,500 12.9 6.8 1.14 **^ Dynaplast ''' 4,700 5,500 -800 7,000 32,900,000 22.1 21.9 1.70 **^ Ekadharma ''' 4,700 4,700 0 0 0 15.7 35.0 2.94 **^ Enseval Putera M '' 7,850 7,950 -100 97,500 774,200,000 n/a 23.6 7.73 **^ Eratex Djaja ''' 1,200 1,200 0 0 0 17.0 8.2 0.91 **^ Ever Shine Textile 2,725 2,600 125 91,000 235,875,000 16.3 16.3 3.48 **^ Fast Food Indonesian 4,200 4,200 0 0 0 27.0 20.2 3.63 Ficorinvest Bank ' 3,350 3,300 50 2,000 6,625,000 23.2 8.6 0.96 ^^* Gajah Surya ' 1,525 1,525 0 1,303,000 1,987,075,000 21.6 30.8 3.68 Gadjah Tunggal ' 3,800 4,100 -300 1,925,500 7,545,725,000 32.1 16.3 1.52 **^ Ganda Wangsa Utama 1,400 1,500 -100 879,000 1,222,350,000 21.3 7.8 1.19 **^ Goodyear ''' 5,900 5,900 0 0 0 7.9 7.5 2.05 Great Gold Star '' 9,900 9,900 0 0 0 n/a 122.8 4.12 *** Great River ' 1,850 1,975 -125 928,500 1,681,662,500 28.4 12.3 1.01 **^ Gudang Garam '' 12,000 12,250 -250 423,500 5,094,525,000 26.7 31.3 3.55 **^ Hadtex ' 1,300 1,375 -75 305,500 407,275,000 25.1 10.3 0.68 **^ Hero Super ' 5,000 4,900 100 658,000 3,263,400,000 52.5 30.3 3.33 **^ HM Sampoerna ' 10,200 10,650 -450 1,084,500 11,415,562,500 21.9 26.9 6.43 **^ Hotel Prapatan ''' 1,850 1,850 0 0 0 38.3 12.2 1.48 **^ H. Sahid Jaya ''' 1,875 1,875 0 0 0 41.0 20.0 1.34 **^ Igar Jaya ''' 1,100 1,200 -100 2,500 2,750,000 55.9 24.1 1.01 **^ IKI Kabel Ind. ''' 2,275 2,275 0 85,500 195,137,500 41.4 22.1 1.90 **^ INCO ' 4,125 4,325 -200 955,000 3,927,325,000 19.3 17.9 1.08 **^ Indah Kiat ' 2,650 2,800 -150 858,500 2,303,175,000 32.9 32.2 2.44 **^ Indocement ''' 8,550 8,675 -125 396,000 3,406,962,500 29.5 28.5 5.25 **^ Indocitra ''' 1,400 1,400 0 0 0 38.8 15.1 0.66 Indofood SM ''' 9,150 9,600 -450 266,000 2,495,962,500 n/a 27.3 20.49 Indorama '' 8,700 8,600 100 508,000 4,352,125,000 14.1 13.4 3.02 **^ Indorayon ' 5,500 5,750 -250 80,000 458,775,000 30.1 33.1 3.09 **^ Indosepamas ''' 3,300 3,300 0 44,000 145,200,000 9.4 8.7 1.19 **^ Indospring ''' 2,000 2,300 -300 500 1,000,000 27.5 15.9 1.71 **^ Indovest Bank ''' 1,400 1,400 0 0 0 19.7 8.0 1.18 **^ Intan Wijaya ''' 1,325 1,400 -75 23,500 31,537,500 20.4 6.9 0.94 **^ Inter Delta ''' 2,600 2,600 0 0 0 22.8 23.1 2.07 **^ Inter Pacific Bank 2,400 2,400 0 20,000 48,000,000 16.2 7.5 1.23 **^ Intinusa Selareksa 3,275 3,375 -100 55,500 184,987,500 n/a 13.2 4.65 Intraco Penta ''' 3,000 3,100 -100 5,000 15,000,000 38.9 11.0 1.66 **^ Itamaraya ''' 2,750 2,750 0 0 0 110.9 162.6 2.09 **^ Jakarta Int. H. ' 3,025 3,200 -175 1,111,000 3,390,725,000 58.8 92.7 0.78 **^ JAPFA ' 3,150 3,300 -150 409,000 1,312,637,500 16.7 12.9 1.48 **^ Jaya Pari Steel '' 2,300 2,400 -100 52,000 120,850,000 11.0 13.3 0.75 **^ Jaya Real Property 7,700 7,000 700 133,500 978,500,000 n/a 19.8 8.94 Jembo Cable ''' 3,500 3,500 0 0 0 34.8 27.9 2.87 **^ Kabel Metal ' 3,500 3,550 -50 167,000 572,375,000 33.8 17.9 2.51 **^ Kabelindo ''' 8,000 9,000 -1000 27,000 216,000,000 18.6 8.8 1.97 **^ Kalbe Farma ' 8,950 9,100 -150 246,500 2,243,200,000 35.5 32.5 6.43 **^ Kedaung Indah ''' 3,400 3,500 -100 96,000 331,500,000 27.8 15.2 2.26 **^ Kurnia Kapuas '' 2,350 2,300 50 21,000 48,262,500 10.1 4.9 0.79 **^ Lionmesh ''' 1,500 1,525 -25 7,000 10,725,000 13.6 6.5 0.91 Lion Metal ''' 2,000 2,350 -350 11,000 22,000,000 8.9 7.0 1.24 Lippo Bank ' 6,850 7,000 -150 289,500 2,009,012,500 32.1 21.7 3.13 **^ Lippo Industries ' 5,300 5,450 -150 5,000 26,500,000 14.7 8.8 0.65 **^ Lippo Land ''' 5,450 4,500 950 556,500 2,969,625,000 18.8 42.1 3.38 **^ Lippo Life ''' 4,900 4,800 100 107,500 523,400,000 18.3 52.4 11.23 **^ Lippo Pacific ''' 3,200 3,200 0 0 0 14.4 11.2 2.58 **^ Lippo Securities ' 7,500 7,500 0 21,000 149,800,000 n/a 12.3 10.26 Marein ''' 900 900 0 31,500 28,350,000 15.8 10.9 0.72 **^ Mas Murni ' 1,325 1,425 -100 373,000 503,262,500 n/a 6.2 0.84 **^ Matahari Putra Prima 4,675 4,900 -225 1,283,500 6,063,925,000 26.6 24.7 3.75 ^^* Mayatexdian ' 725 875 -150 764,000 573,100,000 n/a 49.3 0.52 **^ Mayertex ''' 5,500 5,500 0 0 0 531.8 60.5 3.80 **^ Mayora Indah '' 11,700 12,000 -300 70,500 828,225,000 45.3 27.6 3.00 **^ Merck ''' 12,500 12,500 0 0 0 9.7 7.5 5.86 **^ Metrodata Elec. '' 2,275 2,575 -300 212,000 505,662,500 11.5 4.6 0.81 **^ Metro Supermarket '' 5,500 6,950 -1450 20,000 110,000,000 28.5 11.6 2.09 Bakrie Finance Corp. 2,500 2,500 0 0 0 37.2 107.6 2.40 **^ Modernbank ''' 2,225 2,200 25 705,500 1,580,300,000 n/a 13.4 2.47 Modern Photo ''' 12,400 12,350 50 74,000 918,350,000 28.3 32.8 7.56 ^^* Modernland Realty ' 7,900 7,900 0 0 0 41.4 15.1 2.95 Mulia Industrindo ' 6,450 6,750 -300 346,000 2,236,275,000 n/a 23.6 3.60 **^ Mulialand ''' 2,900 3,000 -100 74,000 214,287,500 n/a 15.4 2.70 **^ Multibreeder Adirama 3,400 3,600 -200 192,000 676,400,000 n/a 8.1 1.61 **^ Multi Bintang ''' 8,000 8,000 0 4,000 32,000,000 5.6 5.8 2.40 **^ Multipolar ' 2,125 2,325 -200 247,500 519,612,500 18.8 13.0 1.00 **^ Nipress ''' 5,400 5,400 0 0 0 27.2 23.5 2.42 Ometraco Fin. ''' 3,100 3,100 0 1,500 4,475,000 48.0 9.1 0.98 **^ Ometraco Realty ''' 2,100 2,000 100 1,320,000 2,671,550,000 n/a 13.2 2.66 **^ Pakuwon Jati ' 2,500 2,725 -225 741,500 1,938,462,500 52.1 25.1 3.01 Pan Brothers ' 1,150 1,225 -75 413,000 473,562,500 n/a 6.9 1.22 **^ Panca Wiratama ''' 5,500 5,500 0 0 0 n/a 28.4 2.12 **^ Panin Bank ''' 3,000 3,200 -200 22,000 66,750,000 26.5 16.7 2.01 **^ Panin Insurance '' 1,250 1,250 0 13,500 16,875,000 13.8 7.6 0.89 **^ Panin Life ''' 4,000 4,000 0 0 0 12.0 17.6 1.55 Perdana Finance '' 2,450 2,500 -50 15,000 36,750,000 n/a 14.6 2.01 **^ Petrosea ''' 8,000 8,000 0 0 0 3.8 3.6 0.82 **^ Plaza Indonesia '' 1,700 1,500 200 14,000 23,762,500 46.3 17.1 1.14 **^ Polysindo ''' 4,100 3,900 200 127,000 495,812,500 15.0 10.5 1.77 **^ Pool Asuransi INA 3,800 3,800 0 0 0 135.7 33.0 4.02 Prima Alloy ''' 1,275 1,350 -75 13,500 17,275,000 25.0 14.2 0.89 **^ P&G Indonesia ''' 13,000 18,000 -5,000 1,000 13,000,000 11.0 3.2 2.81 Pujiadi & Sons ''' 4,300 4,300 0 0 0 28.8 28.4 2.87 Putra Sejahtera P. ' 4,925 4,950 -25 128,000 631,100,000 n/a 14.5 2.04 **^ Putra Surya Perkasa 3,200 3,250 -50 1,490,500 4,761,750,000 n/a 14.3 1.72 **^ Rig Tenders ' 750 775 -25 335,500 251,625,000 7.7 4.9 0.51 Rimba Niaga ''' 1,600 1,600 0 0 0 n/a n/a 2.32 Roda Vivatex ''' 4,000 4,000 0 0 0 6.3 10.2 1.17 **^ Sarasa Nugraha''' 2,500 2,500 0 0 0 10.6 14.5 1.83 **^ Sari Husada ''' 10,000 10,000 0 19,000 183,000,000 33.4 17.1 6.80 *** Schering Plough '' 6,700 7,000 -300 2,000 13,400,000 7.7 5.3 2.00 **^ Sekar Bumi ' 3,175 3,350 -175 156,000 497,512,500 20.5 14.4 3.28 **^ Sekar Laut ''' 6,000 6,000 0 0 0 33.4 15.8 2.67 **^ Semen Cibinong ''' 6,000 6,325 -325 8,500 51,125,000 26.3 23.9 1.99 **^ Semen Gresik ''' 6,775 6,775 0 0 0 24.4 24.8 1.47 **^ Sepatu Bata ''' 3,850 3,850 0 0 0 7.3 3.5 1.51 SMART Corp. ' 3,650 3,875 -225 923,500 3,473,212,500 27.0 17.8 2.69 **^ Soedarpo ''' 1,000 1,025 -25 9,000 8,962,500 29.9 9.8 0.62 **^ Sona Topas ''' 7,100 7,100 0 0 0 22.4 20.2 5.00 **^ SORINI CORP ''' 8,900 8,900 0 0 0 26.9 21.5 6.25 Suba Indah ''' 4,450 4,450 0 0 0 27.6 16.7 2.65 **^ Squibb ''' 5,700 5,700 0 0 0 7.9 9.2 1.68 **^ SS Gas ''' 2,750 2,750 0 0 0 n/a 22.5 1.72 Steady Safe ''' 4,225 4,225 0 0 0 n/a 11.8 5.10 SUCACO ''' 6,300 6,500 -200 5,000 31,500,000 16.9 11.4 1.35 Sumalindo Lestari 7,100 6,675 425 307,500 2,140,037,500 n/a 22.4 4.08 Summarecon ''' 4,000 4,050 -50 53,000 212,050,000 20.2 14.1 2.22 Super Indah Makmur 2,000 1,800 200 14,000 23,512,500 n/a 21.2 1.52 **^ Super Mitory ''' 1,475 1,525 -50 43,500 61,762,500 20.1 8.4 0.90 **^ Surabaya Agung ' 2,550 2,625 -75 162,500 420,100,000 35.5 14.4 1.24 **^ Surya Toto ''' 7,650 7,650 0 0 0 22.7 15.4 3.01 **^ Tamara Bank ''' 1,975 1,975 0 20,500 39,987,500 6.4 10.4 1.19 **^ Tancho Indonesia ' 5,950 5,950 0 0 0 11.3 9.4 1.02 **^ Tembaga Mulia ''' 5,000 5,000 0 0 0 10.6 6.5 1.06 Tempo Scan Pacific 11,700 12,000 -300 217,500 2,550,337,500 n/a 27.8 3.93 **^ Texmaco Jaya ''' 4,125 4,125 0 2,500 10,312,500 n/a 11.1 1.99 **^ Texmaco Perkasa ''' 3,100 3,100 0 0 0 5.6 24.7 2.48 **^ Textronic ''' 3,700 3,700 0 0 0 246.6 164.4 2.01 *** TIFICO ''' 3,000 3,000 0 0 0 10.1 62.0 0.52 **^ Tigaraksa ''' 9,200 9,000 200 15,000 138,000,000 27.4 22.6 4.27 **^ Tira Austenite ''' 5,000 5,000 0 0 0 15.2 15.9 3.52 **^ Tjilatjap Pell. ' 1,450 1,525 -75 142,000 210,500,000 16.5 26.2 2.25 **^ Tjiwi Kimia ' 5,650 5,900 -250 101,000 579,200,000 21.4 13.6 2.57 **^ Toko Gunung Ag. '' 1,800 1,800 0 0 0 20.5 5.6 1.05 **^ Trafindo Perk. ''' 2,075 2,150 -75 85,000 177,025,000 14.0 10.0 1.12 **^ Trias Sentosa '' 4,500 4,950 -450 500 2,250,000 16.3 16.6 2.27 **^ Ugahari ''' 2,750 2,750 0 0 0 n/a 29.7 1.72 **^ Ultra Jaya ''' 6,000 6,000 0 0 0 26.3 59.3 6.01 **^ Unggul Indah ' 3,200 3,375 -175 311,000 1,000,587,500 19.0 13.7 1.99 **^ Unilever ''' 39,000 39,000 0 3,000 117,000,000 35.4 32.3 14.58 **^ United Tractors ' 5,650 6,050 -400 156,500 918,475,000 24.4 19.7 2.47 **^ Voksel Electric '' 4,000 4,500 -500 22,000 83,200,000 52.1 16.6 2.90 Wicaksana OI ''' 5,125 5,500 -375 188,500 998,700,000 n/a 28.4 7.05 Zebra Nusantara '' 1,400 1,425 -25 62,000 86,925,000 8.9 8.6 1.20 _______________________________________________________________________________________________________ AVERAGE 25.7 19.6 3.25 _______________________________________________________________________________________________________

Total volume Total value

Regular transactions 39,563,500 156,982,887,500 Block sale 500,000 2,850,000,000 Crossing transactions 70,163,516 270,680,292,350 Transactions over foreign portion 4,797,600 21,986,055,000 Odd lot transactions 1,587 7,869,000 Cash trading 125,000 430,125,000 Total transactions 115,151,203 452,937,228,850

Rights transactions 0 0

' Liquid stock " Semi liquid stock ''' Illiquid stock ^ FY92 ^* 1Q93 ** 1H93 *** 3Q93 ^^* 1Q94 **^ 1H94