The Hindu : Karnataka / Bangalore News : BSI registers rise of 1,194 points in January

Online edition of India's National Newspaper
Saturday, Feb 11, 2006

Karnataka

Karnataka - Bangalore

BSI registers rise of 1,194 points in January

Special Correspondent

Bangalore: There were portents of the Sensex climbing to the historic 10,000 points mark in the Bangalore Stock Index (BSI) of 25 companies headquartered and with an active presence here.

The Alliance Business Academy which tracks the BSI, said January ended with an increase of 1,194 points from December 2005. It was an increase of eight per cent compared to January 2005. Over the last year, Bangalore-based stocks are up sharply by almost 59 per cent.

Of the 25 individual companies that make up the BSI, 21 stocks were up during January and only four stocks went down. The five companies that showed the highest monthly percentage gains in January were: Bharat Earth Movers Ltd. 27.9 per cent, Astra-Zeneca Pharma 25.8 per cent, VXK Instruments 17.1 per cent and Sonata Infotech 15.5 per cent.

The only four Bangalore companies with a percentage loss in January were Infosys -1 per cent, Tata Elxsi -2.7 per cent, HMT -4.2 per cent and Subex Systems -41.5 per cent.

At the national level, BSE-30 Index increased by 5.6 per cent during January, compared to the eight per cent monthly increase for the BSI.

On an annual basis, the BSE-30 Index rose by 51 per cent over last year while the BSI went up by 55 per cent since January 2005.

Alliance Business Academy says the big push for stocks has come from foreign institutional investors and the announcement of liberal economic policies in New Delhi. Moreover, the enthusiasm of foreign institutional investors has encouraged domestic investors, especially small investors, to dabble in the stock market.

Several local stockbrokers corroborate this trend and explain that small investors are beginning to feel more optimistic because all pointers are towards economic liberalisation continuing at a faster pace.

Printer friendly page
Send this article to Friends by E-Mail