Key Pivotals Gain Marginally On Subdued Trading
Trading on the National Stock Exchange (NSE) remained relatively subdued on the first day of trading of the new settlement cycle. There was a marginal improvement in prices of key pivotals.
The NSE 50 Index, which opened at 967.98, touched a high of 981.75 and closed at 971.29 gaining 2.38 points over the previous close of 968.91.
The net traded value was Rs 734.61 crore. The net traded quantity of shares was 438.12 lakh and the number of trades were 78,271.
Hectic activity was once again seen in the stocks of State Bank of India, Reliance and Tisco.
The SBI stock witnessed a traded turnover of Rs 328.53 crore, while Reliance recorded a turnover of Rs 105.25 crore.
According to dealers, the trading sentiment remained weak mainly on account of the poor market conditions. The market is, however, likely to witness dull trading over the coming days and a sideways movement in indices is expected. Trading volumes are, however, likely to remain steady at lower levels, marketmen said.
The SBI stock fluctuated widely after opening higher at Rs 264.90 (Rs 260.05 at Tuesdays close). The stock touched Rs 278 before closing at Rs 264.25.
The Reliance stock crossed the Rs 201 mark after several days after opening at Rs 197.90. It closed at 197.20, against a previous close of Rs 195.80.
Bombay Dyeing, Ashok Leyland, Colgate, HDFC, Indo-Gulf and MTNL recorded marginal gains during intra-day trading and closed just above their previous levels.
Hectic trading was also witnessed in ITC, ACC, Larsen & Toubro, Tisco, Bank of Rajasthan, Reliance Petroleum, MTNL, BSES, IPCL, Gujarat Ambuja Cement, Bajaj Auto, Oriental Bank and Telco. - #include virtual="/incs/right.asp"-->