ADRs - Indian companies as of December 31, 2004
US Index Report

DJIA	Dow Jones Industrial Average	10783.01	- 17.29
NASDAQ	Nasdaq Composite	2175.44	- 2.90

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Markets weekly report: At historic highs
Mumbai: The markets signed off the year 2004 in style, recording a new closing high of 6602.69 with a handsome gain of 104.63 points for the week ended 31 December 2004.

On the National Stock Exchange, the 50 stock Nifty index recorded a gain of 17.10 points ending at 2080.50, a new closing high as well.

The inflow of funds from FIIs in December was impressive at over Rs6,683 crore (till 30 December). During the year 2004, the FIIs brought in a whopping Rs38,965.10 crore (till 30 December).

Metal stocks Tisco and Hindalco were among the top gainers of the week. Nalco, Ispat Industries, Hindustan Zinc, Welspun Gujarat, SAIL, Essar Steel, Saw Pipes, Jindal Steel and Sesa Goa were the other prominent gainers in the metal sector.

The banking sector went up sharply as well. The State Bank of India, HDFC Bank, UCO Bank, Centurion Bank, IDBI Bank, Dena Bank, Bank of Maharashtra and Allahabad Bank all moved up. Vijaya Bank, Punjab National Bank, Andhra Bank, Bank of Baroda, Indian Overseas Bank, Canara Bank, Syndicate Bank, Federal Bank, J&K Bank, Kotak Bank, Oriental Bank of Commerce, Karur Vysya Bank, Bank of India, IndusInd Bank, Corporation Bank and UTI Bank were all up impressively.

Cement stocks gained with ACC, Grasim Industries and Gujarat Ambuja Cement all moving up along with Dalmia Cement, Ultratech Cemco and Prism Cement.

Pharma stocks surged as well with Cipla, Dr. Reddy's Laboratories and Ranbaxy Laboratories climbing up along with Glenmark Pharma, Nicholas Piramal, Matrix Laboratories, Orchid Chemicals, Dabur Pharma, J.B. Chemicals, Kopran, Cadila Healthcare, Sun Pharma, Biocon, Merck and IPCA Laboratories.

Automobile sector had a mixed turn out with Hero Honda, Bajaj Auto, LML, Eicher Motors, Escorts, Ashok Leyland, Kinetic Motors and Mahindra & Mahindra closing with sharp to moderate gains. Bajaj Tempo, Punjab Tractors and TVS Motors on the other hand turned negative. Auto ancillaries attracted profit taking and came off their higher levels during the week.

Reliance Industries, amid alternate bouts of buying and selling, ended the week with a handsome gain of 1.9%.

Bharti Tele-Ventures, BHEL, Hindustan Petroleum Corporation, Tata Power and Infosys Technologies all posted sharp gains. ITC, HDFC, Larsen & Toubro, Satyam Computers, ended the week with marginal gains while ICICI Bank, Hindustan Lever and Zee Telefilms closed with minor losses. Along with ONGC, Maruti Udyog, Tata Motors, Wipro and Reliance Energy too faced losses.

Tata Consultancy Services registered a sharp gain along with GTL, CMC, NIIT and I-Flex Solutions. PSI Data, Rolta India, Mphasis BFL and Visualsoft posted marginal gains while Mastek, Hexaware Technologies, NIIT Technologies, Patni Computers, Ramco Systems, Tata Infotech, Hughes Software, SSI and HCL Technologies all closed with marked losses.
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FII investment crosses $9 billion for 2004
Mumbai: FII investments in the country crossed $9 billion in 2004, being the highest in the history of the Indian capital markets.

The total net FII investments for the year up to December 29 stood at $9,072 million while foreign investors pumped in about $2,113 million in December-the highest inflow in the last twelve months, according to the Securities and Exchange Board of India (SEBI) data.

The markets witnessed a historic crash on May 17 when the Sensex fell by 786 points due to across the board selling by domestic and foreign institutional investors. The growing attractiveness of India vis-a-vis other emerging markets saw a deluge in the FII investment which almost quadrupled over previous months to $1,783 million in November and touched a record height in December at $2,113 million.
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