Steady Trend Prevails, Volumes Cross Rs 900cr Level

Trading on the National Stock Exchange (NSE) on the last day of the current settlement yesterday was steady, with the NSE 50 Index gaining 0.07 points over the previous close. The exchange, however, witnessed higher trading volumes just above the Rs 900 crore level.

The State Bank of India stock saw hectic trading activity. The selling pressure had pulled down the SBI stock price at around the Rs 250 levels during intra-day trading. The price volatility in the SBI stock has increased over the past 5 to 10 days, with the pricing for the $400 million GDR set to take place next week.

 

The Nifty opened at 968.91, touched a high of 972.74, before reaching a low of 965.69. It closed at 968.91, up marginally over the previous close of 968.84. The net traded value was Rs 912.90 crore, while the net traded quantity was 478 lakh shares and the number of trades were 1,01,222.

Most of the key pivotals moved in a narrow range during intra-day trading and stocks like Bombay Dyeing, G E Shipping and Indo Gulf Fertilisers recorded their new 52-week lows on the NSE. The SBI stock price opened at Rs 261.65 and closed at Rs 260.05 after touching an intra-day low of Rs 258.25. Reliance also moved in a narrow range on the NSE, closing at Rs 195.80 against the previous close of Rs 194.30.

Hectic activity was witnessed in the SBI stock, totalling Rs 390 crore, followed by ITC (Rs 165.08 crore), Reliance Industries (Rs 92.24 crore), Tisco (Rs 85.50 crore) and Bank of Rajasthan (Rs 20.77 crore). The Tisco stock moved up marginally from Rs 170.70 on Monday to close at Rs 173.05 against an opening of Rs 170.75.

The top gainers included Growmore Solvent (11.11 per cent), Leena Textiles (10 per cent), Optel Telecom (10 per cent), Sabero Organics (10 per cent) and Parry Agro Industries (9.88 per cent).