27 - June - 2005

The Indian stockmarkets was strong today at the outset. However,profit booking took its toll on the indices as selling pressure intensified in the final hour of trade today, forcing the indices to give up almost all of their gains which they had notched up through out the day.

The BSE Sensex closed at 7,151 (up 2 points) and the NSE Nifty closed at 2,295 (up 1 point) and the June futures still traded at a heavy discount to the spot. The rupee was trading at 43.52 to the dollar.

In the day, both the benchmark indices, Sensex and Nifty, achieved new lifetime intra-day highs. The CNX mid-cap 200 index largely mirrored the move of the benchmark indices, albeit closing in the negative. As far as the market breadth was concerned, considering both the BSE and the NSE combined, there were 3 declining stocks for every 2 stocks in the positive.

Bharat Forge, Sundaram Clayton and FAG Bearings closed 2% higher. As per a leading business daily, Bharat Forge, which is a global player in the auto ancillary sector, has acquired the US-based Federal Forge Inc for US$ 9.1 m in an all cash deal.This move will enable the company to enhance its continuous thrust on expanding its geographical reach as it will enable Bharat Forge to establish a footprint in the US, which is one of its largest markets.

According to sources, FMCG major HLL is planning a new strategy to regain its lost ground. It should be noted that recently, due to price war in the industry, the company was not only losing market share but its bottomline was also significantly affected, which was clearly reflected in the lackadaisical interest towards the stock.However, the stock has gained substantial ground in the past few trading sessions.However, the markets did not seem to be enthused by this as the stock closed with 1% losses while other FMCG stocks were in the positive with Marico (up by 4%) and Dabur (3%) among the major gainers.



Top Gainers

IPCL 175.50 5.00%
DABUR 134.75 3.34%
ITC 1,650.00 2.94%
HDFC BANK 599.00 2.84%
BHEL 872.30 2.73%

Top Losers

VSNL 224.75 -3.10%
HERO HONDA 583.50 -3.07%
SAIL 50.55 -2.98%
ZEE TELE 148.55 -2.53%
NALCO 140.90 -2.22%

END OF DAILY UPDATE : 27-JUNE-2005

27 - June - 2005

The Indian stockmarkets was strong today at the outset. However,profit booking took its toll on the indices as selling pressure intensified in the final hour of trade today, forcing the indices to give up almost all of their gains which they had notched up through out the day.

The BSE Sensex closed at 7,151 (up 2 points) and the NSE Nifty closed at 2,295 (up 1 point) and the June futures still traded at a heavy discount to the spot. The rupee was trading at 43.52 to the dollar.

In the day, both the benchmark indices, Sensex and Nifty, achieved new lifetime intra-day highs. The CNX mid-cap 200 index largely mirrored the move of the benchmark indices, albeit closing in the negative. As far as the market breadth was concerned, considering both the BSE and the NSE combined, there were 3 declining stocks for every 2 stocks in the positive.

Bharat Forge, Sundaram Clayton and FAG Bearings closed 2% higher. As per a leading business daily, Bharat Forge, which is a global player in the auto ancillary sector, has acquired the US-based Federal Forge Inc for US$ 9.1 m in an all cash deal.This move will enable the company to enhance its continuous thrust on expanding its geographical reach as it will enable Bharat Forge to establish a footprint
in the US, which is one of its largest markets.

According to sources, FMCG major HLL is planning a new strategy to regain its lost ground. It should be noted that recently, due to price war in the industry, the company was not only losing market share but its bottomline was also significantly affected, which was clearly reflected in the lackadaisical interest towards the stock.However, the stock has gained substantial ground in the past few trading sessions.However, the markets did not seem to be enthused by this as the stock closed with 1% losses while other FMCG stocks were in the positive with Marico (up by 4%) and Dabur (3%) among the major gainers.



Top Gainers

IPCL 175.50 5.00%
DABUR 134.75 3.34%
ITC 1,650.00 2.94%
HDFC BANK 599.00 2.84%
BHEL 872.30 2.73%

Top Losers

VSNL 224.75 -3.10%
HERO HONDA 583.50 -3.07%
SAIL 50.55 -2.98%
ZEE TELE 148.55 -2.53%
NALCO 140.90 -2.22%

END OF DAILY UPDATE : 27-JUNE-2005