21 - June - 2005

The markets continued its unabated march and the SENSEX inched towards 7100 during the final hour of trade. The BSE Sensex closed at 7,077 (up 92 points) and the NSE Nifty closed at 2,170 (up 26 points). The June futures closed at 2148. The rupee was trading at 43.60 to the dollar.

Cipla (7%), Gujarat Ambuja (6%) and HLL (3%) led the gains on the Sensex today. Software stocks were in limelight today and major gainers included Hexaware (5%), i-flex (2%), HCL Tech (2%) and Infosys (1%). Tata Power gained 2% and Neyveli Lignite gained 1%. Reliance Energy also closed marginally in the positive despite yesterday's sharp run-up.Mixed interest was seen in banking stocks. While gainers included the likes of Centurion Bank (4%), ICICI Bank (3%) and SBI (1%), the losers' list was led by ING Vysya Bank and OBC (both 1% down).

The phase of consolidation amongst smaller private banks gained momentum as the boards of Centurion Bank and Bank of Punjab (BoP) have approved the merger between the two entities.
The BANK NIFTY futures closed on strong grounds above 3030 led by gains in the large private sector banks.
The markets show no signs of tiredness ...but the relentless upward march has to stop sometime soon ...and the markets have to cool downbefore gaining fresh strength to chugg along.

Top Gainers

CIPLA 304.50 6.94%
GUJ.AMBUJA 62.50 5.31%
ICICI BANK 418.65 3.33%
HLL 153.30 3.30%
MARUTI 454.25 2.71%

Top Losers

BPCL 364.85 -1.86%
SUN PHARMA 558.00 -1.19%
ORIENTAL BK. 259.50 -0.94%
GLAXO 780.00 -0.87%
BHEL 866.25 -0.77%

END OF DAILY UPDATE : 21-JUNE-2005