Return
to Story Page
To print: Select File and then Print from your
browser's menu
Our Market Bureau
Mumbai, Dec 2: Amidst thin volumes and lacklustre trading environment, Reliance Industries once again shot back to glory with a significant rise in volumes. While market pundits analyse the development as a mere concidence with yet another Wednesday, the first day of trading session on the NSE, they also explained that this should follow with erractic movement in the price of the stock, as speculators had a field day at the counter.
The Reliance counter today clocked a phenomenal volume of 86.75 lakh shares on the BSE and over 1 crore shares on the NSE. The stock moved from 112.20 and Rs 115.20, to finally close at Rs 112.90, registering a net gain of 0.8 per cent. However, it is learnt that FIIs placed buy orders this counter at the lower levels which saw the stock register a substantial jump in its volumes, along with huge arbitrage conducted between the two exchanges, since today was the first day of trading on the NSE.
The BSE-30 share sensitive index continued to remain range bound to close at2,816.59 points registering a net gain of 12.56 points. Interestingly, institutional players were net buyers on the BSE. FIIs were net buyers to the tune of Rs 7 crore, while domestic institutions bought stocks worth Rs 21 crore and sold stocks worth Rs 10 crore. However, on the NSE, both local and foreign institutions were net sellers, to the tune of Rs 2 and Rs 6 crore respectively. Market was agog with rumours that FIIs placed buy orders for demat stocks of Castrol, ICICI, Satyam Computers, MTNL, Tisco and Smithkline Beecham.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
------------------------------------------------------------
This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
------------------------------------------------------------