Heavy Fii Sales In Itc In Late Trade

The ITC counter was in the limelight yesterday with 44.35 lakh shares changing hands in the last hour of trading on the National Stock Exchange.

The scrip, which hit an intra-day high of Rs 633, crashed to Rs 610 during this time. Sources said the fall was triggered by a delivery-based sale of nearly 5 lakh shares by a foreign fund. Jardine Fleming and Morgan Stanley were named among the big sellers, though this could not be confirmed.

Another section of the market believes this was triggered by short-covering by a BSE operator following rumours that war had broken out in the Gulf.

 

On the NSE, 1.03 crore ITC shares worth Rs 645.69 crore changed hands. The scrip opened at Rs 629.45, touched a high of Rs 633, and crashed to a low of Rs 610 before closing at Rs 617, against its previous close of Rs 625.

On the BSE, 68.6 lakh shares worth Rs 428.48 crore changed hands. ITC opened at Rs 625, touched a high of Rs 633.50 and dipped to a low of Rs 611 before closing at Rs 615.50.