Pivotals Progress Marginally

Pivotal prices moved further marginally on buying support from financial institutions and investors on the National Stock Exchange (NSE) yesterday.

The NSE-50 Index opened at 998.45 points, touched the days high of 1005.10 points, low of 995.35 and closed at 1002.15.

It was against its previous close of 1001.00 points, showing a gain of 1.15 points. The Midcap Index closed at 1073.74 points over the previous level of 1071.88 points, gaining 1.86.

The total turnover on NSE was Rs 980.67 crore, involving 392.55 lakh shares.

Market is badly in need of some sop for the capital market. If the Budget fails to live up to the expectations then the index will slump, said a leading broker. Tomorrow being the last day of settlement on the BSE, there should some activity and the index should go up, said the broker.

 

However, the general mood in the market was dull and the players were not willing to take up fresh positions.

It is basically speculators who are active in the market, and till the Budget the market will move in a narrow range, said another NSE broker.

Hectic trading were observed at ITC (Rs 341.83 crore), State Bank of India (Rs 232.14 crore), Reliance Industries (Rs 197.07 crore), Tisco (Rs 43.25 crore), ACC (Rs 22.65 crore), Telco (Rs 17.99 crore), Larsen and Toubro (Rs 17.5 crore), MTNL (Rs 14.2 crore), OBC (Rs 10.95 crore), BSES (Rs 10.31 crore), M&M (Rs 6.84 crore), BPCL (Rs 6.82 crore), Gujrat Ambuja Cement (Rs 5.21 crore), Bajaj Auto (Rs 4.64 crore), ICIC (Rs 3.65 crore), Tata Power (Rs 3.36 crore), Hindustan Lever (Rs 2.93 crore), Colgate Palmolive (Rs 2.15 crore), IPCL (Rs 1.53 crore), Arvind Mills (Rs 1.22 crore), GE Shipping (Rs 1.16 crore), HPCL (Rs 1.15 crore), TVS Suzuki (Rs 0.85 crore), Marico Industries (Rs 0.85 crore), Cipla (Rs 0.82 crore) counters.

Some of the gainers were AKG Acoustics, Nirlon, Eastern Mining and Vatsa Corporation while some of the losers were Agro Dutch Foods, Kanakdhara Steel, Hindustan Nitroprod, Northland Sugar and Shukra Diamonds Exports.