Mirroring the rising participation of local punters, the Satyam Computers counter clocked a phenomenal auction volume of over 52,400 shares on NSE. While the stock closed at a low of Rs 727.50, the stocks were auctioned at premium of over 9 per cent at a high of Rs 797, reflecting the shortage of stocks in the system. The weighted average price at the auction was pegged at Rs 757. During the day, the stock traded in a band of Rs 725 to Rs 752, the intra-day's low and a new 52-week high respectively.

ITC also witnessed a steep fall withbears taking charge at the counter. In the absence of institutional support, ITC fell to the day's low of Rs 745, before closing at Rs 750, registering a net loss of 3.6 per cent over its previous day's close. According to market sources, FIIs like Jardine Broking and CSFB placed sell orders at counters of Reliance, ITC, Larsen and Gujarat Ambuja.

The negotiated segment of the BSE registered phenomenal volumes at counters of IDBI, LIC Housing Finance, Reliance and SBI. While Reliance witnessed two cross deals (aggregating 62,000 shares), the deals were reported in the price band of Rs 120-122. Similarly, SBI also registered two cross deals of 10,000 shares each at Rs 162.

LIC Housing saw a steep rise in volumes, with the counter witnessing three cross deals of 71,900 shares and 75,000 shares, priced at Rs 35.17.While the boom in the banking stocks proved shortlived, pharma stocks bounced back with fresh vigour. Banking stocks registered losses to the tune of 3 per cent on an average, with SBI closing ata low of Rs 157.10. Telco continued its southward move for the second consecutive day, with the counter clocking a low of Rs 160.30, before closing at Rs 163 on the BSE.Pivotals were marked lower at the kerb. SBI, ITC and Satyam were quoted at a discount of over 2 per cent at the kerb.