BOMBAY, 3 November — On Monday, the BSE closed at 2,834.41. Hindustan Lever touched a new 52-week low of Rs. 152 as the market was not happy with its financial performance. Zee Telefilms was also a major loser of the day on reports that the Motion Pictures Association has decided to ban films of those producers who have sold satellite rights of some of their movies to television channels like Zee before a five-year moratorium. On the other hand, United Phosphorus zoomed up after when for Q2 it announced a net profit of Rs. 16.39 crore on sales of Rs. 221.50 crores.
On Tuesday the BSE closed at 2,885.83. The mid term credit policy was announced met market expectations but did not have any significant impact on the day’s trading as domestic mutual funds were seen buying. Reliance Industries was the star of the day. The company was in the news after it was learnt that it had struck gas in Andhra Pradesh’s Godavari basin, called KGB-6 and was said to have reserves to the tune of 40-50 m cubic meters per day. Hindustan Lever was also up following RBI’s decision to increase the FII limit from 24 percent to 49 percent in the company. FIIs currently own 11.3 percent of the equity. IPCL was up when for Q2 it posted a higher net profit of Rs. 45 crores.
On Wednesday the BSE closed at 2,888.59. The day’s loser was Zee Telefilms when for Q2 it posted a net profit of Rs. 16.13 crore (Rs. 29.59 crore) on total income of Rs. 88.03 crore (Rs. 104.60 crore). State Bank of India was down as was Telco despite a net profit of Rs. 58.80 crores. On the other hand, Tata Tea had disappointing Q2 numbers with a lower net profit of Rs. 30.78 crores.
On Thursday the BSE closed at 2,949.32. Reliance confirmed its gas find in excess of seven trillion cubic feet or 1.2 billion barrels of oil equivalent. It also announced its performance for Q2 with a net profit of Rs. 1,002 crore on total sales of Rs. 16,206 crores. For Q2, Tisco posted a net profit of Rs. 203.18 crores and Telco returned to the black in Q2 with a net profit of Rs. 58.80 crores. On Friday, the BSE closed at 2950.50. Of the 1,519 issues traded on the exchange, advances marginally outnumbered declines, with 695 gainers and 664 losers. 160 issues ended unchanged. Top gainers on the Sensex were HPCL, Zee and Bajaj Auto and top losers were Reliance, Nestle and BHEL.
Gold was at Rs. 5220/- per 10 gms and Silver was at Rs. 7850/- per Kg. US$ was at Rs. 48.26, Pound Sterling at Rs. 75.43, Euro at Rs. 48.06, UAE Dhm at Rs. 13.14, Kuwaiti Dinar at Rs. 159.91, Bahraini Dinar at Rs. 127.99, Saudi Riyal at Rs. 12.87, Qatari Riyal at Rs. 13.25 and Omani Riyal at Rs. 125.34.