Blip On The Screen

The Daewoo Motors scrip witnessed a sudden surge in activity with 6.23 lakh shares changing hands on the NSE yesterday.

The price, too, appreciated sharply, closing at Rs 12.50, up Rs 4 or nearly 50 per cent over the previous close. Daewoo Motors has an equity of Rs 551 crore of which barely 6-7 per cent is held by the public.

Though 6 lakh shares constitutes less than one per cent of the equity, it is a significant volume for a counter where barely a few thousand shares are traded on an average everyday.

The HPCL scrip has steadied marginally over the past couple of trading sessions.

Players say that speculators who had gone short heavily at the counter are covering up their positions as sell orders at the counter seems to be over.

Frenzied buying interest was witnessed at the Silverline and HCL Infosystems counters yesterday. Trading in HCL was frozen on the BSE and NSE after there were no sellers at the counter. The Silverline scrip clocked a trading volume of over 21 lakh shares on the NSE yesterday.

A foreign fund is reported to be a buyer at both these counters. According to unconfirmed reports, close to 5 lakh shares of Silverline had been picked up by the fund yesterday.

Another software scrip which has caught the fancy of the market is Rolta which has been hitting the upper end of the filter circuit regularly for the past three trading sessions.

Trading in the scrip was frozen yesterday also after there were no sellers at the counter.

Both UTI and its offshore fund is reported to have made aggressive purchases at the counter.

A leading domestic institution is reported to have booked profits at the Zee Telefilms counter for the second consecutive day.

Though the exact quantity could not be confirmed, players said around 5-6 lakh shares of the scrip have been dumped over the past couple of trading sessions.

The fund is also reported to have made token purchases at the ITC counter during the same period.

A leading US-based fund is reported to be a regular seller at the Hindalco counter over the past few trading sessions.

The Reliance scrip continued to be battered mercilessly, touching a new 52-week low for the fifth consecutive trading day of the week.

A leading foreign fund with a large exposure at the counter is reportedly dumping 6-8 lakh shares of the scrip almost everyday.

After plumbing new depths, the M&M scrip has bee edging up over the past few trading sessions.

Players say that with the discount on its GDR issue having subsided, the scrip is witnessing renewed buying interest.