Markets: Weekly Round Up
Mumbai: The BSE Sensex, which touched a high of 6044.55 in intra-day trades on Friday, the 19th November, ended the week at 5961.71, netting a minor loss of 2.30 points.

On the National Stock Exchange, the 50 stock Nifty index ended the week with a slender loss of 0.60 points at 1872.35.
The foreign institutional investors (FIIs) recorded net purchases of Rs730.9 crore ($159.7 million) in equities for the trading week ended November 19 while mutual funds (MFs) were net sellers at Rs127.79 crore.

The foreign funds were net purchasers at Rs608.1 crore ($132.9 million) in the debt market for the period under review, according to the data available with the Securities and Exchange Board of India (Sebi) here. The mutual funds were net purchasers in the debt market at Rs 0.11 crore.

A sharp fall on Friday was triggered by index heavyweight Reliance Industries, which fell more than 3.35 per cent, after Mukesh Ambani admitted to differences with his brother Anil over ownership issues. This triggered off sales in stocks of Reliance Industries, IPCL, Reliance Infrastructure and Reliance Capital.

Sustained inflow of funds from foreign institutional investors and easing global crude oil prices contributed to the market's firm trend on the first three days of a shortened week. The week also saw most of the mid cap scrips closing near or at their all time highs.

Bank stocks hogged the limelight thanks to reports of a hike in rates. State Bank of India, ICICI Bank and HDFC Bank counters moved up around 3.7, 3.5 and 3.1 per cent respectively. Non-Sensex bank stocks Centurion Bank, Dena Bank and Punjab National Bank closed with gains of around 25 per cent each. UCO Bank recorded a gain of over 20 per cent while Bank of India surged nearly 18 per cent. Kotak Bank, Oriental Bank of Commerce, Union Bank of India, Andhra Bank, syndicate Bank, Vijaya Bank and IndusInd Bank moved up by around 10 - 15 per cent. Bank of Maharashtra, J&K Bank, Indian Overseas Bank, Corporation Bank, Canara Bank, Bank of Baroda, IDBI Bank, Allahabad Bank, Federal Bank, Karur Vysya Bank and Bank of Rajasthan all posted impressive gains.

Software major Satyam Computers ended the week with a handsome gain of 4.5 per cent. Wipro and Infosys Technologies notched up gains of 2.8 per cent and 1.5 per cent respectively.

Housing finance major HDFC, media giant Zee Telefilms, cement stock ACC, automobile major Tata Motors, drug maker Dr. Reddy's Laboratories and power utility player Tata Power scored sharp gains.

Ranbaxy Laboratories finished the week with a sharp loss of 5.6 per cent. Cipla went down by around 5 per cent on selling pressure. ONGC, Reliance Industries and Bharti Tele-Ventures shed 3.5, 3.3 and 2.1 per cent respectively, Reliance Energy, BHEL, Larsen & Toubro, Grasim Industries and Hindalco posted notable losses.

Automobile stocks Escorts, Eicher Motors, Mahindra & Mahindra, Ashok Leyland, LML and TVS Motors closed with sharp to moderate gains. Kinetic Honda Motors was down a sharp 8.4 per cent as was Bajaj Tempo.

Among energy stocks, Castrol India and Mangalore Refineries scored gains as did Indraprastha Gas and Bharat Petroleum Corporation. Gujarat Gas, IBP and Chennai Petro ended flat, while Petronet LNG, GAIL India, Kochi Refineries, Indian Oil Corporation and Bongaigaon Refinery closed sharply lower.

Among metal stocks, Jindal Iron, Sesa Goa, Jindal Stainless and Gujarat Minerals slipped sharply while Saw Pipes, Ispat Industries, Essar Steel, Jindal Steel, Welspun Gujarat and Hindustan Zinc moved up smartly. SAIL ended with a minor gain.
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ADRs - Indian companies as of November 19, 2004
US Index Report
Date Nov 19 2004

DJIA	Dow Jones Industrial Average	10456.91	-115.64
NASDAQ	Nasdaq Composite	2070.63	-33.65

INDIAN ADRS on NASDAQ and NYSE
Date Nov 19 2004

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Angel Broking sets up office in Hyderabad
Hyderabad: Angel Broking Ltd, one of the top-five retail stockbroking houses in the country, has opened its first branch in the South here. Apart from having membership of BSE, NSE as well as the two leading commodity exchanges in the country, the company is also registered as a depository participant with CDSL.

It currently has a team of 60 professionals and 200 support staff working for a nationwide network comprising 19 branches, over 250 sub-brokers, 500 business associates and 600 terminals.
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