Index Moves In Narrow Range On Low Sentiment

The trading sentiment at the National Stock Exchange (NSE) took a beating during yesterdays trading with the NSE-50 index closing the day 6.60 points lower. The index moved in a narrow range and closed at 1129.70 against the previous close of 1136.30.

The Midcap index closed at 1166.05 points against the previous close of 1181.50 points, a loss of 15.45 points. According to sources, the market witnessed a minor correction during yesterdays trading since the previous week had witnessed more then expected jump in the indices. The market is likely to remain less volatile during this week, said an NSE dealer.

 

The ITC scrip witnessed a major slump and the scrip closed at Rs 496.80 against the previous close

of Rs 534.15, a loss of 6.99 per cent. The punter were very active at this counter and the lack of floating stock had pushed up the prices in the past several weeks, informed another NSE dealer.

The total traded turnover on the exchange touched Rs 1,815.90 crore with nearly 6.18 crore shares changing hands. Among the top five gainers of the day were, MTNL which closed at Rs 314.25 against the previous close of Rs 297.80, Mahindra & Mahindra at Rs 395.10 (Rs 395.10), Hindustan Lever at Rs 1352.05 (Rs 1308.05), Tata Tea at Rs 360.45 (Rs 350.80) and Arvind Mills at Rs 130.75 (Rs 127.45).

The Reliance scrip also slumped and the scrip closed at Rs 315.35 against the previous close of Rs 322.90. The total traded turnover in this counter touched Rs 304.69 crore.

Among the top five losers were, ITC which lost nearly 7 per cent, Cochin Refineries at Rs 157.50 (Rs 169.10), MRPL at Rs 18.60 (Rs 19.75), ACC at Rs 1141.20 (Rs 1194.10) and Reliance Petroleum at Rs 16.20 (Rs 16.90).