14 - June - 2005

The BSE Sensex surged in the last one hour of trade to touch an
intraday high of 6865.18 and finally finishing the day on a positive
note at 6860.18, up 27.50 points and the NSE Nifty closed at 2,112 (up
9 points). The June Futures closed the day at 2094.The rupee was
trading at 43.62 to the dollar.
Markets gained some strength during the final hour of trade, as
investors resorted to buying after caution had largely prevailed since
the start of trade today. The markets, like yesterday, opened on a
subdued note.

The markets were highly volatile today on account of delay in monsoon
and rising crude oil prices. The market breadth was positive with
gainers at 1340 and losers at 1200. Out of 2603 stocks, 63 remained
unchanged. As per a leading business daily, Maruti has announced a
price cut for its flagship 'Maruti 800 model' by Rs 16,000. It must be
noted that the sales of the 800 model have been pretty dismal so far
in FY06 and the price cut is expected to boost revenues.
The stock ended 2% lower, while others in the sector like Bajaj Auto
(up 1%) ended in the positive. Mahindra & Mahindra Ltd`s board has
recommended issue of bonus shares to the equity shareholders in the
ratio of one bonus share for every ordinary share held by the
shareholders of the company, subject to the approval of the
shareholders. Mah &Mah closed at Rs 548.60, up 0.42 per cent.

Telecom gainers included Bharti Tele (2%) and MTNL (1%) .VSNL, on the
other hand, ended lower by 3%.
The BANKEX traded firm today, gaining 54 points to close at 4063.45.

Among the major losers on the BSE Sensex, NTPC lost 2.41 per cent,
Maruti was down 2.23 per cent and HLL fell by 1.10 per cent.

Top Gainers

DABUR 131.45 3.38%
ICICI BANK 433.95 2.41%
BHARTI TELE 227.45 2.39%
HDFC BANK 593.50 1.92%
REL. ENERGY 583.15 1.85%

Top Losers

VSNL 227.90 -3.00%
ZEE TELE 145.75 -2.35%
SHIP. CORP. 149.15 -2.20%
MARUTI 435.50 -2.18%
BPCL 367.95 -1.59%

END OF DAILY UPDATE : 14-JUNE-2005