BOMBAY, 15 February 2004 — On Monday the BSE closed at 5,926.22.
In specific stocks, Mangalam Cements was up on reports that the B. K. Birla group is close to finalizing the deal to sell its 15 lakh-ton cement company.
On Tuesday, the BSE closed at 5,932.52.
In specific stocks, ICICI Bank was up after the bank’s board approved plans to raise Rs.30.00 billion-35.00 billion through a fresh capital issue.
Hindalco gained ground on the back of a firm trend in global aluminum prices.
UTI Bank also rose following the Foreign Investment Promotion Board (FIPB) approval to HSBC to acquire stake in the private sector bank.
On Wednesday, the BSE closed at 5,949.78.
Cement stocks like Grasim, ACC, L & T and Gujarat Ambuja Cements were the toast of the day on news that cement manufacturers in Bombay were hiking prices by Rs.15 per bag from the beginning of the next month due to rising demand.
On Thursday the BSE closed at 5,936.96. Profit-taking was conspicuous in IT heavyweights and Old Economy stocks.
On Friday the BSE closed at 6,011.66. ITC was up on sustained buying interest from market participants, including funds.
Sugar stocks were also up following talks that sugar output is expected to be lower in FY2003-04.
Pharma stocks surged on expectations of more bonus issues.
For the coming days, analysts say that till elections are over, the markets will remain volatile and trade in almost the same range.
Gold was at Rs.6,100- per 10 gms and silver was at Rs.10,115/- per kg.
US dollar was at Rs.45.39, pound sterling at Rs.85.42, euro at Rs.57.83, UAE dirham at Rs.12.28, Kuwaiti dinar at Rs.153.05, Bahraini dinar at Rs.119.70, Saudi riyal at Rs.12.03, Qatari riyal at Rs.12.39 and Omani riyal at Rs.117.22.
