BOMBAY, 17 October 2004 — On Monday the BSE closed at 5,720.18. Automobile stocks slipped into negative territory amid worries over rising oil prices. However, cement pivotals bucked the trends and moved higher amid value buying interest.
Wockhardt ended higher when it was learnt that the company has almost closed in on yet another acquisition target in Europe. Nocil was up on reports that Reliance would pay around 80 percent of the dues which currently stands at Rs.3.50 billion while the rest would be paid by Nocil.
On Tuesday, the BSE closed at 5,676.73. Infosys Technologies for the quarter ended Sept. 30, 2004 reported a 49 percent increase in consolidate net profit. It has recommended an interim dividend of 100 percent - Rs.5 per share.
Patni Computer Systems, the country’s sixth-biggest software services exporter, was up on news that it had agreed to buy Cymbal Corporation for $68 million in cash.
Reliance Industries closed lower though the company announced that it would be investing with its Canadian partner Niko Resources. Amara Raja Batteries was the “star” of the day. It signed an agreement with Maruti Udyog to supply it with 100,000 batteries in the next 12 months.
Stock, bond, forex and commodity markets in the financial center of Mumbai were closed on Wednesday.
On Thursday the BSE closed at 5,713.1.
Metal stocks lost ground amid concerns that metal companies may be forced to cut prices following a sudden fall in global metal prices.
On Friday the BSE closed at 5,686.73. The mood in the market appeared uncertain, as reflected in the volatile trade. The breadth of the market remained negative, with 1,030 losers and 592 gainers.
Meanwhile, for the week ended Oct.2, the wholesale price inflation eased to 7.20 percent, down from 7.38 percent a week earlier.
Gold was at Rs.6,335/- per 10 gms and silver was at Rs.11,335/- per kg.
US dollar was at Rs.45.88, pound sterling at Rs.81.92, euro at Rs.56.64, UAE dirham at Rs.12.50, Kuwaiti dinar at Rs.152.93, Bahraini dinar at Rs.120.74, Saudi riyal at Rs.12.23, Qatari riyal at Rs.12.60 and Omani riyal at Rs. 117.64.