The turnover on the BSE set a new record on Tuesday at Rs 1,686.07 crore. Interestingly, NSDL also registered a record turnover of Rs 56.01 crore, with BSE's demat segment contributing over Rs 31 crore. SBI and Reliance accounted for over 80 per cent of the turnover in the demat segment of both the exchanges.

Reliance saw 1.01 crore shares valued at Rs 18.94 crore change hands in the demat segment of NSE. GE Shipping saw a huge negotiated deal of 40 lakh shares on Tuesday. The deal, which was executed at Rs 43.20, was conduced in the Trade-to-Trade segment of NSE. According to market sources, Jardine Fleming was rumoured to have been a buyer at this counter.

Brokers said local institutions like UTI and SBI Mutual Fundpicked up chunks of Reliance, Ingersoll Rand, SBI, L&T, ICICI and Usha India shares. The development reflected on the stock prices with SBI closing above the crucial barrier of Rs 300.

On the other hand, profit-booking in the shares of HPCL and BHEL saw these stocks move down to close at Rs 435 and Rs 409, respectively.

A change in the perception of fund managers with regard to India Cements saw the stock attract massive purchases, closing at the upper end of the price filter at Rs 69.45 on the BSE and Rs 69.65 on NSE. Videocon International moved up despite the special margin of Rs 24 on BSE.