Share Volatile On Bourses, Plummets In Kerb Trade

The ITC stock dominated trading at the major bourses across the country yesterday. Selling pressure was strong towards the end of the closing session at the Bombay Stock Exchange and National Stock Exchange. At the London markets, the ITC global depository receipt slid marginally.

The stock opened on BSE at Rs 449.50 and touched an intra-day high of Rs 453.5, but slipped to close at Rs 439.50, down Rs 9 from the previous close of Rs 448.50. At NSE, it opened at Rs 451.80, but lost ground by mid-afternoon to close at Rs 446.95, against the previous close of Rs 449.60.

 

In late evening kerb trade, the stock plummeted to Rs 433, sources said. The stock accounted for 46.77 per cent of the traded volume at NSE. It was the most actively traded stock, with 1.28 crore shares traded for a value of Rs 579.17 crore. The total NSE turnover was Rs 1,238.13 crore. At BSE, 46.64 lakh ITC shares worth Rs 208.40 crore were traded.

The ITC GDR at 18:00 IST witnessed a bid price of $14.50 while the offer price was $15.13, against yesterdays close of $15.75. ITC crashed by Rs 6 in the last two minutes of trading at NSE, largely on account of squaring-off by brokers on the last day of the settlement cycle at the exchange and speculators pulling out of the stock.