Shares Recover On Short Covering By Bears

Pivotal prices recovered on good investment by the foreign institutional investors (FIIs) short covering by the bear operators on the National Stock Exchange (NSE) yesterday.

The NSE-50 index opened nearly steady at 1,138.45 points touched days high of 1,152.65 points, low of 1,138.45 points before closing at 1,150.45 points showing a net gain of 12.55 points as against its previous close of 1,137.90 points.

The Midcap index finished at 1,269.85 points over the last trading days close of 1,254.60 points gaining 15.25 points.

The total turnover on the exchange was Rs 1,540.37 crore involving 506.90 lakh shares. The debentures traded value was Rs 59.16 lakh. Top gainers were Reliance Petro,Industrial Credit & Investment Corporation of India, Reliance Capital, Tisco and Tata Tea and losers were Ind Rayon, Bajaj Auto, Mahanagar Telephone Nigam Limited, Hindustan Lever and Indo Gulf Fert.

The volume of the business was led by textile giants Reliance with turnover of Rs 582.62 core, ITC Rs 315.28 crore, Tata Tea Rs 193.47 crore, Tisco Rs 97.81 crore, State Bank of India-N Rs 75.94 crore, Associated Cement Company Rs 43.76 crore, , Industrial Credit & Investment Corporation of India Rs 30.89 crore, Telco Rs 20.39 and Infosystch Rs 19.02 cr, Mahanagar Telephone Nigam Limited Rs 18.36 crore, Castrol Rs 15.45 crore, Hindustan Lever Rs 8.22 crore, Ranbaxy Rs 7.08 crore, Bombay Suburban Electric Supply Rs 7.07 crore, Bharat Heavy Electricals Limited Rs 6.5 crore, Bajaj Auto Rs 5.93 crore, TVS Suzuki Rs 5.84 crore, Larsen & Toubro Rs 5.29 crore, Reliance Capital Rs 5.07 crore, Industrial Credit & Investment Corporation of India Bank Rs 4.66 crore, BPLC Rs 4.52 crore, Satyam Comp Rs 3.58 crore, Reliance Petrol Rs 3.28 crore, LML Rs 2.99 cr and Colgate Rs 2.52 crore. - UNI