Sentiments Improve On Positive Cac Report

The trading sentiment at the National Stock Exchange (NSE) improved yesterday on the first day of the current settlement. The NSE-50 index closed 12.00 points higher at 1085.75 as against the previous close of 1073.75. The midcap index closed at 1127.15, a gain of 10.25 points, against the previous close of 1116.90 points. According to sources, the market reacted positively to the report on capital account convertibility which firmed up the prices of all Fera scrips. Market sources also informed that FIIs have started buying in select A and B1 groups.

The rally was lead by ACC which closed at Rs 1185.30 as against the previous close of Rs 1109.25, a gain of 6.86 per cent over the previous close. The total traded turnover at the exchange touched Rs 1,514 crore, with nearly 5.74 crore shares changing hands.

The top five gainers during yesterday's trading were ACC which closed at Rs 1185.30 as against the previous close of Rs 1109.25, Tata Tea which closed at Rs 388.25 against the previous close of Rs 318.20, IFCI which closed at Rs 26.30 against the previous close of Rs 24.85, Nestle which closed at Rs 281.30 against the previous close of Rs 266.20 and Castrol which closed at Rs 467.65 as against the previous close of Rs 444.30.

The top five losers during yesterday's trading were MTNL which closed at Rs 281.55 against the previous close Rs 291.75, Tata Chemicals which closed at

Rs 156.85 as against the previous close of Rs 159.30, ITC which closed at Rs 477.95 as against the previous close of Rs 483.55, BSES which closed at Rs 238.05 against the previous close of Rs 240.15 and Tisco which closed at Rs 173.95 against the previous close

of Rs 175.05. According to market sources, term lending institutions are likely to gain the most if

the Tarapore committee recommendations are accepted.