October 10, 1997
COMMENTARY
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NSE sees record business; Nifty rises 29 points
Record business volumes were registered on the National Stock Exchange on Friday with the
market players and speculators concentrating on the Reliance
counter, resulting in a sharp rally on the country's largest bourse.
Mirroring the bullish trend, the Nifty opened at
1135.30 points, touched the day's high of 1166.05 and declined to
touch the day's low of 1133.60 points before closing at 1163.55
points, a gain of 29.00 points over the previous close of 1134.55 points.
Similarly, the Midcap Index drifted higher by 16.55 points to
1276.70 points as against 1260.15 points.
Being the last day before settlement on the BSE, speculators were seen taking
new positions on the NSE, causing a record business volume of Rs
29.6 billion. Reliance topped the list of turnover with Rs
12.6 billion, followed by ITC Rs 8.8 billion, SBI Rs 2.5 billion,
Tata Tea Rs 1.5 billion, and Castrol Rs 687.6 million.
The textile giant, Reliance, gained by Rs 38.15 or 9 per cent
to Rs 421.50 over the previous close of Rs 383.35.
Other counter which had hectic trading were TISCO (Rs 586.5
million), TELCO (Rs 338.5 million), ACC (Rs 310.3 million), Bajaj Auto (Rs 226.4
million), ICICI (Rs 184.2 million), Infosys Tech (Rs 174.2 million), MTNL
(Rs 174 million), L and T (Rs 157.8 million), Hind Lever (Rs 147.8 million),
Colgate (Rs 97.4 million), BHEL (Rs 96.6 million), BSES (Rs 93.7 million),
HDFC (Rs 88.8 million), Rel Capital (Rs 77.9 million), ICICI Bank
(Rs 53 million), Satyam Comp (Rs 52.2 million), Dr Reddy (Rs 36.9 million),
LML (Rs 29.2 million), HPCL (Rs 28.2 million) and IPCL (Rs 25.1
million).
The top gainers were Rel Capital by Rs 5.25 to Rs 70.30, Rel Petro
by Rs 01.40 to Rs 20.25, ITC Rs 39.10 to Rs 622.55 and
BSES by Rs 11.55 to Rs 207.80. However losers were Tata Chem
by Rs 1.15 to Rs 159.20, HDFC by Rs 23.25 to Rs 3311.10,
Ind Rayon by Rs 1.65 to Rs 243.50, ABB Rs 1.50 to Rs 605 and
Asian Paints by Rs 0.45 to Rs 301.50.
UNI
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