Sell Offers Swamp Nse Auctions

All key pivotals were auctioned at prices lower than the closing ones at the weekly auction at the National Stock Exchange.

Shares of ITC auctioned at an average price of Rs 417.25 whereas the closing price on NSE was Rs 418.85.

ACC was auctioned at Rs 1,483.20 against the closing price of Rs 1,490.75, Larsen & Toubro auctioned at Rs 242.65 with closing price at Rs 244.10, Tisco auctioned at Rs 192.90 with closing at Rs 194.35 and SBI auctioned at Rs 287.90 whereas closing was at Rs 289.80.

Reliance too auctioned below the closing price of Rs 272.85 at Rs 271.45. Auctioned volumes of these scrips were: 12,400 shares of ITC, 2,275 shares of ACC, 3,250 shares of Larsen & Toubro, 21,800 shares of Tisco, 66,000 shares of Reliance and 4,900 shares of State Bank of India.

 

Auction prices are generally higher than the days closing price of a scrip especially if large volumes are auctioned.

Brokers said that the unusual situation of lower auction prices was because of the huge volumes of sell offers.

A prominent broker on NSE said, Very often market players buy shares from the market and maintain a plus position in anticipation of large volumes in the auction.