Markets at a glance

Return (%)

1 week1 month1 year BSE Sensex6346.571.57-1.677.1 S&P CNX Nifty1967.350.56-2.913.96 BSE-1003417.341.46-1.327.41 BSE-200847.780.76-1.556.67 BSE-5002690.770.97-0.8610.01 CNX Mid-cap 2002844.31.753.8257.1 CNX Nifty Junior4185.70.96-0.559.01 S&P CNX 5001742.150.89-0.939.62 FII Net inflows (Rs cr)*-231.1-811.9-1460.935819.6 MF Net inflows (Rs cr)*-17.33334.091412.811584.23 BSE turnover (Rs cr)@2086.651955.441989.692030.89 NSE turnover (Rs cr)@4391.94244.224248.414456.62 Sensex P/E@15.1714.9415.5119.68   BSE-Auto2639.742.560.62-1.67 BSE-Bankex3742.41-0.76-1.6313.54 BSE-Cap. Goods3369.044.075.6538.81 BSE-Cons Durable1622.988.619.9149.76 BSE-FMCG1080.481.124.6511.91 BSE-Healthcare2460.99-0.27-6.05-1.39 BSE-IT Sector2457.790.96-6.130.33 BSE-TECk1608.311.1-5.2725.91 CNX IT2639.2-1.16-7.5322.56 BSE-Metal5888.02-1.01-8.4923.03 BSE-Oil & Gas3046.431.87-0.89-10.53 BSE-PSU4161.680.32-1.18-3.91   Nasdaq1932.191.26-2.92-5.74 Dow Jones10157.710.7-2.85-3.01 MSCI World---- MSCI Emgerging Markets---- MSCI Emerging Asia---- Rs/$43.75-0.16-0.05-0.64 Brent Crude (spot)$/Bbl50.834.27-8.4850.56 * Figures for week, month and year are cumulative flows. @ Daily average turnover/Sensex P/E as on date, week-, month- and year-ago.  The advances among Sensex stocks outnumbered declines by a margin of 20 to 9, while HPCL remained unchanged. Two scrips with the highest weightage in the index, Reliance Industries and Infosys led the way.  While Infosys bounced back from last week's lows to gain 2.12 per cent to close at Rs 1,998.10, Reliance advanced 3.19 per cent to close at Rs 546.60. The gains in these two stocks contributed to 37 points to the overall index.  Technology scrips Satyam and Wipro were also among the big gainers following good quarterly numbers. These two scrips added more than 20 points to the index. Tata Motors and HDFC were the other notable gainers. The main losers were ICICI Bank (down 1.71 per cent at Rs 395.75) and Ranbaxy Labs (down 2.80 per cent at Rs 925.25).  Most indices surged last week with the markets recovering after two consecutive weeks of declines. The BSE Consumer Durable Index led the pack with a gain of 8.61 per cent, followed by the BSE Capital Goods Index.  The rise in the Consumer Durable Index was led by Titan Industries and Blue Star while the Capital Goods Index rose on the back of L&T, Bhel and Siemens.  The IT Index, too, recovered marginally (up 0.96 per cent) after slumping as a result of disappointing results from technology bellwethers Infosys and TCS.  However, the fall was steep enough to attract buying at the counter. BSE Metal Index remained down for the second consecutive week.  The recovery was not restricted to domestic markets. International indices, too, witnessed gains. Leading the pack was MSCI Emerging Markets which gained 2.13 per cent after seeing losses in the previous week. 
 

BULK DEALS
Date	Stock	Client	Deal Type	Quantity	Price (Rs)
18-Apr-05	Finolex Cables	Kotak Mahindra Midcap fund	Buy	198141	196
18-Apr-05	Infotech Enterprises	SBI Mutal fund	Buy	100000	266.37
18-Apr-05	Jaiprakash Hydro Power	India Capital fund	Sell	2600000	31.6
18-Apr-05	SB&T International	Founders Asset Management LLC	Sell	150700	97.17
19-Apr-05	Bharti Shipyard	Tata TD Waterhouse Trustee Co.	Buy	114000	149.96
19-Apr-05	Gateway Distriparks	HDFC Mutual Fund	Buy	636844	124.32
19-Apr-05	Jaiprakash Hydro Power	Merrill Lynch Capital Market Espana	Sell	3789170	30.89
19-Apr-05	Adlabs Films	Fidelity Fund Mauritius	Buy	134570	135.96
19-Apr-05	Himachal Futuristic	ABN Amro Asia Mauritius	Buy	2639268	16.86
20-Apr-05	KEI Industries	Sundaram mutual fund	Sell	50000	90.16
Source: NSE, BSE

 This was followed by MSCI Emerging Asia which gained 1.98 per cent. Brent crude once again resumed its upward journey as it ended 4.27 per cent higher at Rs 50.38. Oil continues to swing as marketmen are still debating whether the rise will continue or stabilise.  What to expect this week  Though the markets picked up pace towards the latter part of last week, the mood is expected to be cautious this week. With the Credit Policy set to be announced on April, 28, banking stocks could be in focus.  However, most debt fund managers are not expecting any rate hikes. Several leading corporates are set to announce their quarterly numbers this week. The April 2005 derivatives contracts will come to a close this week, which could lead to volatility.  

Stock of the week

Berger Paints
Last week's close (Rs)	47.55
Prev. week's close (Rs)	41.65
Week's high (Rs)	48.75
Week's low (Rs)	40.02
Last week's ave. daily turnover (Rs cr)	2.00
Prev. week's ave. daily turnover (Rs cr)	0.40
Futures close	NT
Number of up/down move	3/2

Berger Paints announced last week that it would consider a buy-back when its board meets later this week. The news had a positive impact on the stock as it ended the week with over 14 per cent jump in its price to levels of Rs 47.55.

The stock has been gaining steadily since the start of the year when its price was hovering around Rs 25. A buy-back is certainly welcome at this stage - not because the stock is undervalued, but given the market conditions, a buy-back offer would prove a respite to investors who want to exit.

Also, the pending merger of Berger Auto & Industrial Coatings (a 100 per cent subsidiary) with Berger Paints has finally gone through.