Rumours Dampen Trading Sentiment

Pre-election rumours dampened trading sentiment at major bourses yesterday. There were all kinds of rumours floating, from prominent BJP leaders being assassinated to mosques being pulled down to the US launching an air strike on Iraq.

This did impact trading sentiment with stock indices yesterday closing lower than the previous close. Towards the end there were further rumours that FIIs were heavy sellers at the ITC counter. This pulled indices further downwards. The MTNL scrip gained ground on unconfirmed reports that a foreign fund had purchased a million shares through UBS Securities. The scrip gained Rs 9.70 on the BSE to close at Rs 234.80. On the NSE, it closed at Rs 234, up Rs 8 over the previous close.

 

Punjab Tractors saw a negotiated deal of 1 lakh shares on the BSE at Rs 510 per share .

The HDFC scrip witnessed a negotiated deal of 50,000 shares on the BSE at Rs 2,735 levels.

Lakme continued to attract the lower end of the circuit filter on sustained selling pressure. The scrip closed on the BSE at Rs 189 and at Rs 184 on the NSE, both new 52-week lows for the scrip.

The Gujarat Ambuja scrip shed gains had posted on Tuesday. The company will be declaring its annual results today.

SmithKline Pharma witnessed sharp volatility at the bourses following announcement of its annual results. The scrip touched new 52-week highs of Rs 625 and Rs 630 on the BSE and NSE respectively. However the scrip came under profit-booking towards close to end at Rs 599 levels (+Rs 12) on the BSE and Rs 602 (+Rs 14) on the NSE.

Nedungadi flared up to new 52-week highs on the BSE and NSE during intra-day trading on buoyant trading interest.

LML continued to head northwards on sustained buying interest from foreign funds. The scrip clocked a trading volume of 35.67 lakh shares on the NSE. It closed at Rs 108.60 after touching a new 52-week high of Rs 110.60. Marketmen said the Government of Singapore has been an aggressive buyer at the counter over the past few trading sessions.

Trading in Merind was frozen at Rs 158.20 on the BSE after there were only buyers at the counter.

On the NSE, trading in the scrip was frozen at Rs 155.35.