Mirroring the lacklustre sentiment at the GDR markets, where most of the blue chips quoted at discount to the local prices, the underlying shares continued to move in a listless manner. Reliance hogged the limelight for the third consecutive day, with the stock trading with a wide price spread of over Rs 4. Volumes at the counter once again hit a phenomenal level of 1.21 crore shares on BSE. According to market sources, Thursday being the last day of trading account on CSE, online operators have shifted a significant portion of their positions to the BSE and NSE. SSKI was rumoured to havecontinued its buying spree at the Reliance counter for the fourth consecutive day. However, the buying was reported to have been done on an FII account. Reliance shares traded in the price band of Rs 116 and Rs 121, but finally closed at Rs 119.80. The Reliance GDR is currently quoted at a premium of over 4 per cent at $ 6. The bid and receive was at $ 5.35 and $ 5.45, respectively. Another prominent feature of the day was Hindustan Lever, which registered a huge volume of 1.58 lakh shares.

Mixed reaction to India Foils: The news of Hindalco taking a stake in India foils led to a series of reactions at the counter. The mixed reaction was on account of the wide price discrepancy between the closing price of the stock on BSE and NSE. The stock was locked on the upper limit of the price band on NSE at Rs 37.30, however no trades were executed at this level. On BSE, where the stock was trading at a premium of over Rs 18, hit the lower end of the price band and was locked at Rs 55 with only sell bids pressedat the counter. According to market sources, while the equity would be issued at a price of Rs 45 (premium of Rs 35) the current market price of Rs 55 looks unattractive, hence, the huge liquidation by local and foreign players.