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Markets: Setting it up for the budget - Sensex crosses 6500
Mumbai: The BSE benchmark index shot up nearly 137 points to close at 6,555.94 while the Nifty notched 48.75 points to 2,057.05 at close. The stage is now set for a pre-budget rally. The rally at this stage is being led by the tech and banking sector. The infotech sector is also contributing to the bullish sentiment. Trading is also bolstered by the government's decision to allow non-government provident funds to invest five per cent of their holdings in stocks.

International Markets
Gain (+) / Loss (-)
Current
Change
NASDAQ 2,062.41 +26.58
FTSE 4,852.30 +0.00
Dow 10,489.94 +62.74
Nikkei 11,356.46 -31.13
CAC 3,913.69 +0.00
HangSeng 13,620.28 -101.41
DAX 4,254.85 +0.00

Last Update : 1 February, 2005, 10:15:09 AM

National Markets
SENSEX
6,555.94
+136.85
NIFTY
2,057.60
+49.30
Last Update : 31 January, 2005, 16:08 PM

Market Counters
Figures in Rupees

BSE 30
Scrip Name Open High Low Last Price
RELIANCE ENR* 525.00 555.00 525.00 550.55
BHARTI TELE 222.45 235.95 222.45 230.35
HDFC BANK LT 541.00 570.00 537.00 564.40
HINDUSTAN LEVER LTD. 158.20 160.30 153.00 159.85
LARSEN & TOUBRO LTD. 965.70 1,010.00 965.70 1,005.30
CIPLA LTD. 278.70 289.25 277.05 286.75
SATYAM COMP 401.10 417.00 400.00 414.30
ZEE TELEF LT 150.00 158.50 149.00 154.95
BHEL 729.55 763.80 729.00 750.70
HINDUSTAN PETROLEUM CORP. LTD. 353.00 367.90 351.60 363.00
ICICI BANK L 350.00 362.50 348.15 360.60
HOUSING DEVELOPMENT FINANCE CO 764.90 785.05 758.00 777.80
STATE BANK OF INDIA 630.00 646.15 627.10 642.80
ONG CORP LTD 801.10 827.00 801.10 818.90
TATA MOTORS 499.90 507.90 493.90 504.75
TATA POWER 376.80 388.00 376.80 385.00
ASSOCIATED CEMENT COMPANIES LT 354.70 360.55 352.20 357.35
RELIANCE* 523.50 534.80 522.50 532.65
TATA IRON AND STEEL CO. LTD. 384.00 388.35 382.00 386.00
INFOSYS TECHNOLOGIES LTD.-ORDI 2,050.00 2,096.00 2,031.00 2,067.25
Dr. Reddys Laboratories 736.20
Grasim Industries 1,328.20
Gujarat Ambuja 449.20
Hero Honda Motors 536.75
Hindalco Industries Limited 1,300.50
Maruti Udyog 451.95
Ranbaxy Labs 1,084.95
I T C LTD 1,410.00 1,410.00 1,340.00 1,361.85
DR.REDDY'S LABORATORIES LTD. 746.00 769.90 732.05 736.20
BAJAJ AUTO 1,050.00 1,050.00 1,035.00 1,037.80
Last Update : 31 January, 2005, 16:38 PM

S&P CNX Nifty
Symbol Open High Low Last Price
SAIL 61.10 64.30 59.80 63.95
RELIANCE 525.00 534.50 522.70 532.30
ONGC 810.00 825.55 805.00 818.60
INFOSYSTCH 2061.00 2097.70 2032.00 2068.65
SBIN 626.00 646.40 626.00 643.00
SATYAMCOMP 401.00 415.40 401.00 413.20
TATAMOTORS 498.00 507.90 494.00 504.40
ITC 1380.00 1405.00 1335.00 1361.50
TISCO 383.00 388.65 382.00 386.45
BHARTI 221.30 236.25 221.00 230.50
PNB 384.85 413.40 384.85 411.05
RANBAXY 1099.95 1104.00 1078.00 1083.35
MARUTI 452.00 455.50 448.55 453.75
ACC 352.00 360.30 352.00 357.30
MTNL 138.20 143.80 135.15 142.05
LT 970.00 1010.00 965.85 1005.25
GUJAMBCEM 449.00 468.00 447.00 449.25
GAIL 223.00 233.00 222.50 230.55
ZEETELE 148.00 158.70 148.00 154.75
HINDPETRO 352.00 367.10 352.00 362.00
WIPRO 710.10 712.00 692.00 705.35
ORIENTBANK 326.50 331.90 317.00 318.80
HINDLEVER 154.00 160.10 153.15 159.80
CIPLA 277.00 288.90 276.05 286.55
GRASIM 1315.00 1342.40 1315.00 1329.70
M&M 536.50 549.40 536.05 540.10
DRREDDY 735.00 768.75 731.15 736.45
BHEL 729.00 764.90 729.00 752.30
REL 534.00 554.80 527.50 552.95
HDFC 764.95 787.90 757.10 778.10
HINDALC0 1348.00 1348.00 1295.25 1301.00
HDFCBANK 536.50 570.00 535.00 564.60
SCI 160.25 165.35 159.95 164.30
IPCL 173.00 177.50 172.50 176.95
NATIONALUM 177.00 179.00 176.00 177.65
TATAPOWER 378.00 389.00 378.00 385.05
ICICIBANK 350.00 362.90 347.25 360.90
BPCL 419.80 428.80 415.50 424.85
HEROHONDA 544.40 545.00 530.00 538.10
SUNPHARMA 493.00 513.50 488.00 496.85
VSNL 212.45 238.00 212.10 229.85
DABUR 98.50 102.00 96.10 101.35
TATATEA 488.50 494.00 485.35 489.50
BAJAJAUTO 1055.00 1068.90 1035.00 1039.20
TATACHEM 161.00 161.50 155.40 157.85
GLAXO 695.00 715.00 695.00 705.50
HCLTECH 330.00 333.00 327.00 330.65
ABB 974.00 987.00 955.10 974.70
INDHOTEL 543.00 558.80 535.00 554.00
COLGATE 184.70 187.00 181.10 186.25
Last Update : 31 January, 2005, 16:08 PM
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ICRA Online MF awards
Mumbai: The ICRA Online Mutual Fund Rankings Awards were given away at a function held here on Monday.

Under the one-year performance category of 'long-term debt', the Tata Dynamic Bond Fund was awarded the gold, while Reliance Income Fund and Deutsche DBF tied in for the silver. In the short-term debt category, the gold award went to Principal Income Fund-STP while the silver went to Prudential ICICI-STP.

The Kotak Bond Deposit scheme won the gold under the three-year performance category of `long-term debt', while Birla Income Plus won the silver. Under the long-term gilt category, Tata Gilt Securities Fund won the gold while the silver went to Templeton India GSF-LTP.

ICRA Online Mutual Fund (MF) Rankings seek to inform investors and intermediaries of the category-wise relative performance of MF schemes. The schemes are ranked using the methodology developed jointly by ICRA Ltd and ICRA online Ltd.
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Elder Pharma: Preferential allotment for Citigroup
Mumbai: The board of directors of Elder Pharmaceuticals has approved a preferential allotment to Citigroup Venture Capital International (CVCI).

The company has decided to issue 12,80,000, or eight per cent, equity shares at a price of Rs180 per share to CVCI, acting through Citicorp International Finance Corporation, the company has informed the BSE last week.

Similar clearances have also been given for Italy's Acraf SpA and Bahrain's TAIB Bank. Together with CVCI, the three organisations will be picking up over 10 per cent in Elder Pharma.

The deal is expected to add Rs26 crore to Elder's kitty and company officials said that Elder would partly utilise this to finance its new production facilities in Uttaranchal and Himachal Pradesh. Part of the funds would also be to create a war chest to support acquisition plans.

The deal would be put forward for shareholder clearance at an extraordinary general meeting scheduled to be held later next month
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domain-B : Indian business : News Review : 1 February 2005 : markets