BOMBAY, 3 June  — On Monday the BSE Sensex closed at 3,720.15 with the NSE Nifty Index at 1,191.85. Zee Telefilms up to Rs. 147.70 also saw sustained buying and the company announced that it has put on hold its plans of the ADR. BSES was up to Rs. 206.50. Infosys was up to Rs. 4,258.60 after the company announced that it had an order from the German BHF Bank. For the year ending 31 March 2001, IDBI posted a 27.03 percent drop in the net profit to Rs. 691 crore. Steel Authority of India, for the quarter ending 31 March 2001, posted a loss of Rs. 728.66 crore.

On Tuesday, the markets were in a steady mood with the BSE closing at 3,742.07 and the NSE at 1,174.90.

Tractor and utility vehicle major M&M, for the quarter ending March 31, 2001, posted, a 60.45 percent drop in its net profit to Rs. 29.29 crore on sales of Rs. 951.95 crore.

State Bank of India gained following reports that the government may take RBI’s 59.7 percent stake. The government may lower its stake to 33 percent.

For the quarter ending March 31, 2001, L&T posted a 61.10 percent rise in the net profit to Rs. 250.40 crore on sales of Rs. 2,479.68 crore. For the year ending March 31, 2001, the company posted a 7.77 percent drop in the net profit of Rs. 315.06 crore. Ashok Leyland gained after the company raised prices of trucks and buses up to 3 percent. For the year ending March 31, 2001, Bombay Dyeing posted a 58 percent drop in the net profit to Rs. 18.13 crore.

On Wednesday the BSE closed at 3,662 and the NSE at 1,177.55. An active stock was Dr. Reddy’s Laboratories after announcing that it had licensed its diabetes molecule to Swiss pharma MNC Novartis for $55 million (Rs. 258 crore).

For the quarter ending March 31, 2001, the company posted a 123.82 percent rise in the net profit to Rs. 39.73 crore. For the year ending March 31, 2001, ITC posted a 26.98 percent rise in the net profit to Rs. 1,006.26 crore.

On Thursday the BSE closed at 3,631.91 and the NSE at 1,668.80. Telecom services provider MTNL lost with reports of the company’s competitors planning to cut tariffs.

Saregama India lost ground after the company announced that a fund managed by Singapore-based investment advisors Arisaig Partners (Asia) Pte had acquired a 5.04 percent stake in the company.

On Friday the BSE closed at 3,557.64 and the NSE at 1148.90.

The global rating agency, Fitch, downgraded India from stable to negative. SEBI announced a decision to introduce a circuit breaker from July 2 that will halt trading if either the BSE or the NSE moved 10, 15, or 20 percent in either direction.

This did not go well with market sentiments.

Selling was seen in Reliance Industries, ITC, Hindustan Lever, State Bank of India and Reliance Petroleum.

Tech stocks such as NIIT, Satyam Computer and Infosys Technologies settled in the red after a steady opening.

Zee Telefilms posted its results on Thursday and for the quarter ending March 31, 2001, there was a net profit of Rs. 39.82 crore.

Tata Steel was subdued despite impressive FY 2001 results. For the year ending March 31, 2001, the company posted a net profit of Rs. 839.28 crore on sales of Rs. 6,893.5 crore.

BHEL also was up when the company bagged a NTPC order worth Rs. 2,800 crore.

Gold was at Rs. 4350/- per 10 gms and Silver was at Rs. 7500/- per Kg.

US$ was at Rs. 47.03, Pound Sterling at Rs. 66.67, Deustche Mark at Rs. 20.34, Euro at Rs. 39.78, UAE Dirham at Rs. 12.80, Kuwaiti Dinar at Rs. 152.61, Bahraini Dinar at Rs. 12.53, Saudi Riyal at Rs. 12.91, Qatari Riyal at Rs. 124.68 and Omani Riyal at Rs. 122.09.