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Casting, infotech indices posted handsome gains in Samvat 2055

The S&P CNX Casting/Forging Industry Index topped among the gainers in various industry indices of the India Index Services and Products Limited at the National Stock Exchange during the Samvat year 2055 that ended on November 5, 1999.

Textile industry topped the losers list followed by oil exploration, machine tools, hotels, shipping and power.

According to movements of S&P CNX industry indices of ISSL, Casting Forging Industry Index registered a whopping gain of 471.34 per cent to 1448.29 points from 253.40 points during the period October 19, 1998 to November 5, 1999.

The S&P CNX Telecommunications (Equipment) Index too recorded a handsome gain of 445.10 per cent to 669.22 points from 122.77 points.

The S&P CNX Computers (Software) Industry Index posted a gain of 285.25 per cent to 25835.93 points from 6706.34 points.

The S&P CNX Computer (Hardware) Industry Index gained by 262.07 per cent to 4398.55 points as against 1214.83 points. The Cables Telecom Index rose by 221.30 per cent to 1061.98 points from 330.53 points.

The industry indices which posted over 100 per cent gain during the year were trading, chemicals (organic), cement and cement products, electronics (industrial), pharmaceuticals, paper and paper products, metals, packaging, tyres, petrochemicals, automobiles (4-wheelers), transmission towers and photographic products.

The S&P CNX Texile Industry Index recorded a loss of 38.83 per cent to 381.06 points from 622.99 per cent during Samvat 2055 whereas the Oil Exploration (Production) Industry Index moved down by 25.97 per cent to 498.71 points from 673.65 points.

The Machine Tools Industry Index eased by 18.81 per cent to 777.43 points from 957.49 points. The Hotels Index is down by 8.23 per cent to 575.41 points from 626.99 points. The Shipping Index was down by 2.26 per cent to 240.08 points from 245.62 points, the Power Index by 1.65 per cent to 492.29 points from 500.53 points.

The scrip-wise movement on the NSE during Samvat 2055 revealed that infotech shares unprecedented gains of more than 500 per cent.

Infosys Technologies registered a gain of 562.63 per cent to Rs 7,600 from Rs 1,146 during Samvat 2055. It was followed by Satyam Computer Services, up by 442.12 per cent to Rs 1,485 from Rs 274, Cipla by 323 per cent to Rs 1,265 from Rs 299, Grasim Rs 453 from Rs 139.95, Ranbaxy Rs 914.1 from Rs 285, Gujarat Ambuja up by 208.06 per cent to Rs 573 from Rs 186 and Reliance Petroleum by 203.58 per cent to Rs 55.1 from Rs 18.15.

Scrips that posted gains over 100 per cent were NIIT, L&T, ACC, IPCL, Mahindra & Mahindra, Telco, Reliance, Dr Reddy's, Hero Honda and Tata Tea.

The top losers were Tata Chemicals which lost by 28.75 per cent to Rs 58 from Rs 81.40, Bajaj Auto is down by 26.58 per cent to Rs 435 from Rs 592.50, ABB eased by 25.46 per cent to Rs 388.35 from Rs 521, Indian Hotels moved down by 13.51 per cent to Rs 345 from Rs 398.90, Tata Power dropped by 13.43 per cent to Rs 72.50 from Rs 83.75 and Bank of India went down by 11.61 per cent to Rs 20.55 from Rs 23.25.

The S&P CNX Nifty Index at the NSE too registered a phenomenal rise by 60.41 per cent to 1364.55 points during the year. The rise in the index also reflected in the growth of market capitalisation at the country s largest bourse during the same period. The total market capitalisation at the NSE registered an increase of Rs 2.70 trillion to Rs 6.66 trillion from Rs 3.95 trillion.

UNI

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