10 - June - 2005

The BSE Sensex lost 50.54 points to close at 6781.99. The NSE nifty closed at 2090.6, down by 12.60 points and the June futures closed the day at 2071.55 ( - 10.55). The rupee was trading at 43.54 to the dollar.

The BSE Sensex had opened flat and posted an intraday high of 6883.67 in the opening trades. The market lost ground post lunch as selling pressure intensified. The markets breadth was negative with losers at 1498 and gainers at 1023. Out of 2586 stocks, 65 remained unchanged.

Among the major losers on the BSE Sensex, L&T lost 2.97 per cent to close at Rs 1100.30, Tata Motors was down 2.87 per cent and Bajaj Auto fell by 2.71 per cent to close at Rs 1240.05. Heavyweights, HLL lost 1.62 per cent, ICICI Bank was down 1.62 per cent and ONGC 0.98 per cent. He other losers were, SBI and ITC.

Infosys was down by 1 per cent and wipro lost 0.41 per cent. The BANKEX lost 53 points to close at 3940.66. Among the major losers in the banking sector, IOB lost 4.57 per cent, Bank of India was down 3.49 per cent and Allahabad Bank fell by 2.82 per cent. Among the major gainers on the BSE Sensex, RIL gained 1.39 per cent to close at Rs 566.75, Dr Reddy`s was up 0.99 per cent to close at Rs 713.15 and HDFC was up 0.89 per cent to close at Rs 843.75.

Cybermedia made its debut on the BSE at Rs 75 on a premium of 25 per cent. The stock touched a high of Rs 109.35 and closed at Rs 105.

Investors seemed inclined to book profits at higher levels, taking advantage of the smart rally witnessed over the last several weeks. The Reliance group stocks traded relatively firm as the news of an amicable settlement between the heirs of the Reliance empire seems to have gathered wind.

Indian pharma major, Ranbaxy, has continued its inorganic growth by acquiring the generic products portfolio (containing 18 products) of a Spanish pharma company, Efarmes SA. Among the other stocks in the sector, while most of them ended weak, Lupin (up 5%), Sun Pharma and Dr. Reddy (up 1% each) managed to buck the trend.

The market ended the week on a subdued note...Maybe, the markets are taking a breather before resuming it's upward journey..Maybe not !!!

Top Gainers

VSNL 228.50 3.56%
RELIANCE 566.55 1.34%
TATA CHEM 182.20 1.03%
DR.REDDY 713.85 1.01%
SUN PHARMA 550.10 0.87%


Top Losers

L&T 1,101.05 -2.91%
TATA MOTORS 422.75 -2.88%
BAJAJ AUTO 1,239.65 -2.41%
HINDALCO 1,110.05 -2.33%
MARUTI 449.35 -2.17%