13 - June - 2005

The stockmarkets finished strong today despite the sluggish trend
witnessed in the morning. The BSE Sensex closed at 6,833 (up 51
points) and the NSE Nifty closed at 2,103 (up 12 points). The June
futures closed at 2084. The rupee was trading at 43.66 to the dollar.
Markets surged ahead during the final hour of trade.Major stocks in
the in the banking, energy, FMCG and software sectors powered the
markets up today.

Markets opened on a rather subdued note this morning, as caution
appeared to be the buzzword, continuing from the weak close on Friday.
They fell further into the red as trading progressed, led by continued
selling, as investors appeared
apprehensive of buying at the higher levels. However, sentiment soon
turned positive at around noon, as investors shrugged off the cautious
start to the day and went on a buying spree. From then on, it was all
a one-way rally upwards. As far as the market breadth is concerned, on
the Sensex, there were 19 gainers and 11 losers. On the Nifty,
however, it was almost even, as 26 stocks out of the fifty gained. In
the overall markets, the breadth was positive, as there were 1,396
gainers and 948 losers. 52 stocks remained unchanged.

A leading business daily reported that Tisco has entered into a joint
venture agreement with an Iranian company, IMIDRO, for setting up 3
steel plants in Iran. This JV with the Iranian company is a positive
move to increase its international presence going forward. The
stock...however closed 1% lower.

Geometric Software's stock witnessed a hammering today and ended down
by as much as 9%. This is on the back of the company reporting a
downward revision to its FY06 revenue and net profit guidance. Most of
the other software stocks ended mixed, with major gains seen in
MphasiS (5%), Satyam (2%) and HCL Tech (1%).

FMCG stocks traded firm today. Gillette (1%), Colgate (3%) and HLL
(3%), all ended in the black. As per a leading business daily,

Top Gainers

L&T 1,152.00 4.63%
ICICI BANK 424.45 3.88%
VSNL 235.80 3.19%
M&M 546.80 2.94%
COLGATE 237.50 2.77%

Top Losers

SHIP. CORP. 152.35 -5.31%
NALCO 145.30 -2.94%
TATA CHEM 178.85 -1.84%
DABUR 126.75 -1.67%
BAJAJ AUTO 1,222.00 -1.42%

END OF DAILY MARKET UPDATE : 13-JUNE-2005

I have received feedback that this daily update should include market
facts and opinions and other market notes. While I will refrain from
giving off hand tips on this blog, I will enhance its scope beyond the
"daily market update" with ramblings from Dalal Street and
"Wealth Management" topics.