The LML scrip saw a fresh wave of buying interest touching new 52-week highs on the BSE and the NSE. On the Bombay Stock Exchange, the scrip touched a new 52-week high of Rs 97.25, before slipping to Rs 96.50 at close. On the NSE, the share saw a new high of Rs 97 before closing at Rs 96.30. The scrip clocked massive volumes of 22.60 lakh shares on the NSE and 3.67 lakh on the BSE. Marketmen said a leading BSE broker was accumulating huge chunks of LML shares.
Operators ran the show at the major bourses as most of the institutions preferred to keep away from the market in view of year-end holidays.
The BSE Sensex shed 92 points early on in the day on speculative unwinding of long positions. The turmoil in South Korea acted as a trigger while lack of fresh buying support from institutions further aggravated the situation.
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However select buying interest from domestic institutions towards close, and short coverings to some extent, helped prop trading sentiment.
The Container Corporation scrip witnessed negotiated deals of 85,000 and 75,000 shares on the BSE and NSE respectively at a price of Rs 420 per share. Marketmen said that the deals were part of inter-fund transfers.
The HDFC scrip witnessed a negotiated deal of 50,000 shares on the BSE at a rate of Rs 3,065 per share. This was about Rs 26 higher than the intra-day high of Rs 3,039 on the BSE for the scrip on Tuesday. Marketmen said both players involved in the deal were FIIs.
The Hero Honda scrip saw a negotiated deal of one lakh shares on the BSE at around Rs 890. Marketmen said the deal could probably have been an inter-fund transfer.
The Dabur scrip has been witnessing a downtrend at the major bourses since the past week. It has been consistently hitting new 52-week lows everyday.Yesterday the scrip touched a new 52-week low of Rs 180 during intra-day trading. The scrip, however, managed to edge up to Rs 184.75 on the BSE and Rs 182.35 on the NSE at close, a loss of Rs 6 and Rs 12.60 respectively. Marketmen said a fund has placed a sell order for a large chunk of its shares.
The Burroughs Wellcome and Glaxo scrips, currently in their no delivery period on both exchanges, continued to witness hectic activity with both of them posting handsome gains on speculative buying.
The Burroughs scrip closed at Rs 340.50 on the BSE (+Rs 17.25) while the Glaxo scrip closed at Rs 413 on the BSE, up Rs 9 over the previous close.
Trading in ICI was frozen on the BSE after there were no sellers at the counter. Earlier a large chunk of shares had changed hands in a negotiated deal at the rate of Rs 174 per share, which was Rs 12 lower than the previous day's closing price.