Speculatives Recover To Register Gains In Late Rally

BSE REPORT

A late rally in key pivotals towards the fag end of the day saw the Sensex inching up to the 4100 mark. The Sensex closed at 4087.64, a gain of 62.23 points over the previous close of 4025.41.

The ITC scrip price witnessed a lot of volatility during intra-day trading. The scrip opened at Rs 476 and immediately plunged to Rs 463.50 on sustained selling pressure. However, the scrip recovered to Rs 500.75 at close, a gain of Rs 20 over the previous close. Marketmen attributed the volatility in the ITC counter to rampant speculation.

Among other key pivotals, SBI touched a 52-week high of Rs 340 during intra-day trading before closing lower at Rs 339.50, a gain of Rs 11.75 over the previous close, while Tisco gained Rs 7 over the previous lose to end the day at Rs 188. The Reliance scrip witnessed renewed buying interest and gained Rs 6 to close at Rs 323.

 

Leading brokers said that there was renewed FII interest at counters like Cadbury, Glaxo, Burroughs Welcome, Tisco, Castrol and MTNL. They also added that UTI had eased selling pressure in the Telco counter which resulted in the scrip price firming up by Rs 7.75 to end the day at Rs 437.

The scrips in the no-delivery period continued to witness hectic activity with Tata Tea, Bajaj Auto and Mahindra & Mahindra posting significant gains. Bajaj Auto closed at Rs 945, up Rs 31 over the previous close, while Tata Tea touched its 52-week high of Rs 392.50 during intra day trading before closing at Rs 392, a gain of Rs 18.75. The M&M scrip touched its 52-week of Rs 418, before closing slightly lower at Rs 417.50, a gain of Rs 21.25. Among the other notable gainers were HLL, which closed at Rs 1385.50 (+Rs 49.75), Lakme at Rs 458.50(+Rs 16.50) and ACC at Rs 1215.75, a gain of Rs 66.75 over the previous close.