Share Prices Lose Marginally

Lacklustre trading prevailed on the National Stock Exchange (NSE) yesterday, with the 50-share index closing marginally lower at 975.25, a loss of 1.35 points.

The Midcap index closed at 1,100, witnessing a loss of 12.30 points over its previous close of 1,112.90 points. According to market sources prices propped up due to short covering as it was the last day of the current settlement. This apart, there was some amount of buying by the domestic and foreign institutional investors (FIIs) at the lower levels, said a dealer with an institutional brokerage.

The exchange clocked a trading turnover of Rs 12,265.54 crore with over 4.73 crore changing hands. The Nifty opened at 977.05, touched a high of 979.55, dipped to a low of 967.85 before closing at 975.25 points.

 

During the intra-day trading 60 securities hit the price filter. The merger news saw the Glaxo scrip soaring. It closed at Rs 385.65 over its previous close of Rs 358.35, a gain of 7.62 per cent.

The HPCL scrip was among the other the other losers. Key index stocks moved in a narrow range with the exception of Bajaj Auto and Telco, both which saw a fresh bout of selling pressure.

The Bajaj Auto scrip closed at Rs 468, down 5 per cent over the previous close. The Telco scrip closed at Rs 222.50, down 4 per cent. Other scrips which figured on the losing side were East India Hotels at Rs 315 and Digital Equipment at Rs 118.50, both hitting the lower end of the filter circuit.

The significant gainers of the day were Glaxo at Rs 384, up 6.4 per cent and Burrough Wellcome at Rs 320, up 2 per cent. The EIH Hotels came down crashing, with the scrip closing at Rs 321.25 over its previous close of Rs 350, a drop of 8.21 per cent.

The Indian Rayon scrip closed at Rs 153.85 a drop of 4.29 per cent. ITC clocked a trading turnover of Rs 461.65 crore and the scrip closed at Rs 582.25, a gain of 1.84 per cent.

Meanwhile, in dull trading, equity prices ended marginally lower on the OTCEI. The composite index opened at 113.92 and closed at the days low of 113.84, showing a decline of 0.08 over the previous close of 113.92. Our Financial Bureau