8.5 Lakh Sbi Scrips Traded In Demat

The SBI scrip witnessed a trade of 8.57 lakh shares in the demat segment yesterday. This also included a negotiated deal of nearly 8 lakh shares at an average price of Rs 242.50 per share which was at a negligible premium to the prevailing market price.

Though the identity of the buyer and seller could not be confirmed, marketmen said the transaction had taken place between two FIIs.

This is a significant move considering the fact that there was a seller for the huge block of shares at a nominal premium to the market price. Since buyers can get electronic shares at almost the market price, more players will prefer to trade in the dematerialised mode, said a dealer at an institutional brokerage. The demat segment witnessed healthy trading volumes with seven of the eight stocks shortlisted for compulsory demat trading by institutions being traded yesterday.

 

In all, 13 stocks were traded in the demat segment yesterday.

The Satyam Computer and Aptech scrips bucked the general trend yesterday with both the scrips posting significant gains. Marketmen said there was institutional demand at both the counters. On the BSE, trading in the Aptech scrip was frozen at Rs 564.25 after the scrip price hit the upper end of the circuit filter.

On the NSE, the scrip opened on a weak note but soon hit the upper end of the 10 per cent band at Rs 575.85 on frenzied buying with 57,700 shares changing hands. It finally closed at Rs 575.70, a gain of Rs 52 over the previous close.

The Satyam Computer scrip witnessed sharp buying interest in a falling market yesterday with 2.36 lakh share being traded on the NSE. The scrip gained 5.6 per cent over the previous close to end the day at Rs 171.80.

In the specified group on the BSE, Wartsila Diesel, Indian Rayon and M&M were the major casualties of the day on sell orders from funds. Both the scrips crashed to new 52-week lows during intra day trading. The Nestle scrip remained relatively firm but slipped marginally towards the close of trading session. Marketmen said that the scrip has been witnessing buying interest on expectations of excellent results from the company. With the rupee appreciating, FIIs are finding a good exit opportunity. On top of it, the rise in rupee value has forced many foreign funds to temporarily put their investment plans on hold, said a source at an FII brokerage.

The ICICI scrip crashed to Rs 79.60 on the NSE yesterday, a loss of Rs 3 over the previous close. This was despite the institution posting a 71 per cent rise in PAT over the previous quarter.

Marketmen said that the profits was already factored in well before the declaration of results.