Markets at a glance

Return (%)

1 week1 month1 year BSE Sensex6569.72-0.226.6018.01 S&P CNX Nifty2060.900.266.6816.71 BSE-1003542.43-0.246.6523.44 BSE-200883.280.157.5823.91 BSE-5002781.410.067.8526.85 CNX Mid-cap 2002730.50-0.1810.1967.29 CNX Nifty Junior4305.75-0.295.4529.98 S&P CNX 5001796.300.127.4026.51 FII Net inflows (Rs cr)*41.50807.008742.5041294.60 MF Net inflows (Rs cr)*239.69191.66-50.90-782.99 BSE turnover (Rs cr)@2191.962270.732462.692016.30 NSE turnover (Rs cr)@4941.144468.605064.334473.72 Sensex P/E@15.7615.7015.2917.90   BSE-Cap. Goods3349.972.5421.0553.55 BSE-PSU4385.281.158.9323.27 BSE-Oil & Gas3106.691.017.327.64 BSE-Bankex3768.110.199.5736.88 BSE-Metal6481.65-0.1711.9236.39 BSE-IT Sector2636.91-0.369.8450.65 BSE-TECk1729.02-0.428.7949.81 BSE-Healthcare2603.48-0.681.2410.52 BSE-FMCG1052.87-1.01-3.443.36 BSE-Auto2743.78-1.203.089.10 CNX IT2854.70-1.237.18-85.67 BSE-Cons. Durable1500.76-4.668.1339.14   Nasdaq2065.400.340.611.28 Dow Jones10841.600.522.731.94 MSCI World1177.140.684.2910.26 MSCI Emgerging Markets581.732.6710.2123.52 MSCI Emerging Asia247.191.647.9212.19 Rs/$43.72-0.27-0.16-3.38 Brent Crude (spot)$/bbl49.077.237.6850.75 * Figures for week, month and year are cumulative flows. @ Daily average turnover/Sensex P/E as on date, week-, month- and year-ago.  However, only 11 Sensex stocks ended with gains. ICICI Bank proved to the biggest drag on the index. The scrip declined 3.80 per cent last week to close at Rs 367.25, shaving off 18.09 points from the index.  BSE Capital Goods Index was the biggest gainer, rising 2.54 per cent, followed by BSE PSU Index and BSE Oil & Gas Index. Banking Index also closed with gains.  Crompton Greaves was among gainers in the capital goods segment and surged on the back of the acquisition of the transformer business of Belgium-based Pauwels group. ONGC, which was the biggest gainer among Sensex stocks, also pushed BSE PSU Index up along with PSU banking stocks.  While losses in Blue Star and BPL dragged down BSE Consumer Goods Index, declines in Infosys, TCS and Wipro pulled CNX IT Index down.  The US markets picked up steam. Good economic news and merger talks boosted sentiment. On Friday, the Commerce Department revised GDP for Q4 to 3.8 per cent, up from the 3.1 per cent a month ago.  Oil stocks gained when a Prudential analyst upgraded the sector to favourable from neutral, saying it will benefit from higher fuel prices over the long run.  What to expect this week  The market is not giving any clear signals at the moment, with the Budget expected to provide the next trigger.  Analysts are advising caution as they expect markets to witness volatility and large price swings on low volumes. FII money has been flowing in steadily and the trend is expected to continue unabated - that is, if the Budget permits it.   

Stock of the week
 

Larsen & Toubro
Last week's close (Rs)	1,082.10
Prev. week's close (Rs)	1,024.88
Week's high (Rs)	1,103.30
Week's low (Rs)	1,012.50
Last week's ave. daily turnover (Rs cr)	69.78
Prev. week's ave. daily turnover (Rs cr)	52.49
Futures close	NT
Number of up/down move	3/2

Engineering and construction major L&T was among the biggest gainers last week. The scrip rose 5.58 per cent to close the week at Rs 1,082.10, while it achieved its all-time closing high of Rs 1,103.30 earlier in the week. The scrip has gained nearly 75 per cent in the last eight months.

The counter has been witnessing buying interest on the back of a strong order-book position and government's thrust on infrastructure development. Recently the company won an order worth Rs 130 crore from Kuwait.

The order is to supply a tubular reactor system to Kuwait Olefins Company. The company currently has an order backlog of Rs 17,021 crore (as on December 2004). It reported a 30 per cent growth in its third-quarter net profit to Rs 132.35 crore, while net sales rose 36 per cent to Rs 3230.49 crore.