The GDRs from the steel makers, as a group, were the top gainers with a rise of 19.09 per cent, followed by fertilisers' 7.09 per cent and cables 6.44 per cent. The telecom GDRs were the top losers depreciating by 3.81 per cent, followed by a 3 per cent fall in the power sector.

According to Skindia Finance, during the week, both the bulls and the bears took their turns, and the index fluctuated between 785 points (June 18) and 821 points. During the beginning of the week, the bulls found enough opportunityto step in after the G-8 nations expressed their disapproval to Pakistan's acts of aggression on the Kargil front.

Thereafter, the news that the technology counters on the Nasdaq witnessed renewed buying interest provided another booster to bulls' buying interests. However, towards the end of the week trading sentiments were subdued as foreign institutional investors turned somewhat cautious as they feared an escalation of the Kargil conflict.

As the GDR market was ahead of the domestic market, the average premium during the week under review went up from 7.23 per cent the previous week to 7.60 per cent. The other reason for the increase in premium was the 17 paise fall in the Indian rupee against the US dollar.

Indian Rayon, with a rise of 32.14 per cent to $ 3.70 was the top gainer. The other prominent gainer was Indo Gulf with 23.52 per cent to $ 1.05. Among the top losers were SIV Inds (16.6 per cent), Indo Rama (10 per cent) and Flex Inds (9.09 per cent).