Scrips Fall On Lack Of Support

Equities declined further on the National Stock Exchange (NSE) due to speculative selling pressure coupled with lack of buying support from institutional investors.

Reflecting the trend the NSE-50 index opened at 1047.50, touched the day's high of 1049.70, declined to a low of 1040.55 and closed at 1042.00, showing a net loss of 8.85 points over the previous close of 1050.85. Similarly, the Midcap index moved down by 8.55 points to 1137.50 against the previous close of 1133.95. The total turnover on NSE during the day was Rs 1205.86 crore.

The ITC scrip stood first in the list of turnover registering the highest of Rs 453.80 crore, followed by SBI Rs 208.50 crore, Reliance Rs 161.12 crore, Tisco Rs 84.50 crore, and Telco Rs 65.91 crore. Hectic activity was also observed in counters like ACC Rs 28.61 crore, Bajaj Auto Rs 25.69 crore, OBC Rs 28.61 crore, BPCL Rs 11.51 crore, BSES Rs 10.42 crore, L&T Rs 9.90 crore, Tata Tea Rs 8.75 crore, IPCL Rs 7.62 crore, Cipla Rs 6.66 crore, Bata Rs 6.01 crore, Bank of India Rs 5.99 crore, Colgate 5.57 crore, Bhel Rs 4.71 crore, Grasim Rs 3.64 crore, Lakme Rs 3.47 crore, Glaxo Rs 3.42 crore, VSNL Rs 3.24 crore, MTNL Rs 3.17 crore, Exide Rs 3.10 crore and Castrol Rs 2.89 crore.

 

The top five NSE-50 gainers were OBC Rs 6.93 crore, MRPL Rs 3.33 crore, Grasim Rs 2.81 crore, IDBI Rs 2.69 crore, and Ashok Leyland Rs 1.91 crore. The top five losers were IPCL, ITC, BSES, GE Shipping and TVS Suzuki.

Meanwhile pivotals dropped further on sustained selling pressure from speculators on the Over the Counter Exchange of India (Otcei). The OTC composite index opened lower at 83.70 and in narrow movements closed at 83.72, showing a fall of 0.33 from the previous close of Rs 29.63 lakh involving 75,115 shares and debentures.

Listed debentures contributed Rs 17.50 lakh from 16,590 debentures while listed equity contributed Rs 10.53 lakh from 58,000 shares. Active trading was witnessed in Indfrag Ltd where 34,000 shares valued at Rs 6.97 lakh were traded.