Mumbai, April 27: Reliance's results brought cheer to the market on Monday, pushing the BSE 30-share Sensitive Index above the crucial barrier of 4,100 points to touch an intra-day high of 4,138.21 points. The Sensex finally closed at 4,082.83, registering a net gain of 31.85 points over the previous close.The Nifty Index, however, dipped by 9.45 points to close at 1,164.35 points with the turnover touching a high of Rs 1,170.42 crore.
The BSE's turnover fell sharply by over 35 per cent to Rs 987.92 crore, with the Reliance counter contributing over 30 per cent to the total turnover registered on the exchange.
Reliance saw over 2.25 crore shares changing hands on the local bourses, with the stock price falling by over 1.8 per cent on the NSE. However, on the BSE the stock closed at Rs 197.30, up four per cent on account of book-bandh badla of Rs 10 and shortcovering.
According to market sources, a pruned trading cycle on the BSE this week has prompted market participants to refrain from buildingfresh positions in most counters. The exchange will remain closed on April 28 and May 1 for public holidays.
Among the non-specified group stocks, Nocil and Hindustan Oil Exploration continued to hog the limelight. Nocil was locked at the upper end of the price band at Rs 54.05 on the BSE with a phenomenal volume of 25 lakh shares.
Hindustan Oil Exploration surged by over 9.9 per cent to close at Rs 62, the upper end of the price band on the first day of the trading cycle on the BSE. Tisco, which entered the no-delivery period on the BSE on Monday, closed with a gain of Rs 4 at Rs 155.10. However, on the NSE the stock closed lower at Rs 148.75, registering a loss of 2.59 per cent.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
