24 - June - 2005

The markets opened weak in the first hour of the day...but gained strength immediately after the initial weakness and the indices moved into the black post-noon. . The NSE NIFTY closed the day at 2194 (up by 11 points) and the June Futures closed at 2177. The BSE Sensex closed at 7,148 (up 28 points).The rupee was trading at 43.52 to the dollar.

The markets remained strong through out the day but lost ground during the final hour of trade today, The Sensex has gained as much as 241 points (3.5%) during the week while the Nifty has surged 60 points or 2.8%.

The Reliance groups stocks have been the major reason for the strong gains. Gas transmission major, GAIL, is envisaging an ambitious capex plan to the tune of Rs 200 bn over the next 5 years. The stock ended marginally up. Other energy majors like ONGC (up 1%) and Gujarat Gas (3%) also ended higher. Cipla (1%) and Wockhardt (3%) ended higher, while Biocon and Dr Reddy's (down 1% each) ended weak.

MTNL ended higher by 1% while Tata Teleservices Maharashtra also finished up 1%.

Top Gainers

TATA TEA 624.55 5.20%
HLL 163.20 5.05%
HERO HONDA 601.95 3.64%
COLGATE 234.65 2.29%
HCL TECH. 395.20 2.00%

Top Losers

GUJ.AMBUJA 62.70 -2.87%
SATYAM 498.05 -2.26%
SHIP. CORP. 142.55 -1.96%
INFOSYS 2,313.05 -1.33%
HDFC 849.85 -1.19%

END OF DAILY UPDATE : 24-JUNE-2005