BOMBAY, 22 June 2003 — On Monday the BSE closed at 3,336.64.
The only stock in the limelight was Reliance Industries. In its Annual General Meeting (AGM), the chairman told shareholders that the company intends to add 2 million tons of petrochemicals capacity per annum. He also announced that the company has found additional gas reserves at the Krishna Godavari basin and has struck oil in Yemen.On Tuesday the BSE closed at 3,431.03, Among the 30 Sensex stocks, only Zee and Colgate ended in the red. Grasim jumped to a new 52-week high after the Aditya Birla group revised its offer price to Rs.170 per share for L & T’s de-merged cement business.
On Wednesday, the BSE closed at 3,430.96. Gains in cement and select Old Economy sector stocks were offset by losses in auto, pharma and technology pivotals. Grasim touched a new 52-week high of Rs.477.70.
On Thursday, the markets ended at 3,454.6. The index was led up by Reliance Industries and State Bank of India (SBI). SBI’s net profit for the fourth quarter ended March 2003 rose 19.79 percent to Rs.7.37 billion and it will Rs.8.50 per share as dividend for 2002-03. The stock saw profit booking after the results were declared. The moods were also buoyed by news that offshore funds had added $80.2 million worth of Indian shares to their portfolios on Tuesday, the highest single-day net purchase this year. The latest foreign fund data takes total purchases in June to $301.3 million.
On Friday, the BSE closed at 3,499.50. The market mover of the day was Reliance Industries which reached a new 52-week high of Rs.333.30. The IPO of Maruti has been a huge success, getting oversubscribed by over 9 times and the stock is likely to be listed sometime between July 5 and July 10. The government has fixed the Maruti issue price at Rs.125.
Gold was at Rs.5,490/- per 10 gms and silver was at Rs.7,630/- per Kg.
US dollar was at Rs.47.36, pound sterling at Rs.77.46, euro at Rs.54.09, UAE dirham at Rs.12.64, Kuwaiti dinar at Rs.155.31, Bahraini dinar at Rs.123.13, Saudi riyal at Rs.12.38, Qatari riyal at Rs.12.76 and Omani riyal at Rs.120.59.