National Aluminium Corporation (Nalco) witnessed large volumes on the bourses yesterday. The combined trading volumes soared to an all-time high of 1.02 crore shares on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Volumes were up 5600 per cent in a single day over the volume of 1.78 lakh shares on the previous day.
The stock opened marginal higher at Rs 99 on the BSE over its previous day's close of Rs 96.95.
Operators' interest in Nalco increased as volumes rose. The stock touched a high of Rs 109.45 before closing at Rs 105.75, up 9.1 per cent.
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On the NSE, it opened at Rs 98.90 and moved up to Rs 109.25 on healthy volumes. It closed at Rs 105.25, gaining 9.9 per cent over the previous day's closing of Rs 96.40. Of the 16.12 lakh shares (up from an average trading volume of around 2-4 lakh shares) traded on the NSE, around 8.60 lakh shares were taken for delivery.
According to market grapevine, a foreign buyer has picked up huge quantity of Nalco shares on the BSE. There was a rumour spreading in the market that private sector aluminium giant has lifted around 80 lakh shares from the market.
The BSE had hefty volume of 86.14 lakh shares compared to an average of around one lakh shares in the last one month.
The trading interest saw Nalco moving up to a month's high of Rs 109.45 yesterday. The stock has gained around 10 per cent in the last one month. It has appreciated by 105.34 per cent in last six months and 74.50 per cent in a year.