Scrips Gain On Mnc Rally

The markets opened on a steady note and moved in a narrow range on the National Stock Exchange (NSE) yesterday. The 50-share NSE index opened firm at 988.95 dipped to a low of 988.95, touched a high of 1,001.10 points before closing at 997.55, a gain of 8.70 points over the previous close of 988.85.

The turnover at the exchange was Rs 1,149.82 crore, with close to 443.63 lakh shares changing hands. Market sources said there was good amount of buying in MNC stocks.

The Midcap index firmed up by 9.10 points at 1,106.15 points over its last close of 1,097.05 points. According to sources, the foreign funds and the domestic institutions were inactive. The market was generally driven by the operators.

 

The stocks that firmed up included M&M which closed at Rs 231.20 over its previous close of Rs 221.70, gaining 4.39 per cent. Nestle continued to move up on rumours of expected excellent results. The stock closed at Rs 330.25, gaining 3.88 per cent over its last close of 317.90.

ITC, which was extremely volatile on Wednesday, closed at Rs 625.80 over its last Rs 617. It had a trading turnover of Rs 479.25 crore. Tata Tea closed at Rs 422.85, a gain of 1.55 per cent. Its turnover was Rs 140.37 crore.

ABB closed at Rs 381.75 (Rs 317.90), a gain of 2.18 per cent. The scrip had been hammered down during the past few weeks in anticipation of a poor results.

It announced a 50 per cent drop in profits on Wednesday. HLL edged up to close at Rs 1,532,95 over its last close of Rs 1,525.05. It registered a turnover of Rs 33.32 crore.

Arvind Mills continued its free fall closing at Rs 50.95 from its last close of Rs 52.65. Hindalco closed at Rs 605.85, a loss of 1.43 per cent. The demat segment witnessed low trading turnover of Rs 2.30 crore.

Equity prices dipped further on sustained selling pressure at OTCEI. The composite index opened at 114.53 and closed at 114.39, showing a marginal decline of 0.14 points over the previous close of

114.53. The total turnover during the day was Rs 21.96 lakh, involving 2,52,450 shares and debentures.