Scrips Firm On Fi Support

NSE REPORT

On the first day of the current settlement on the National Stock Exchange (NSE), the trading settlement firmed up on account of support from domestic institutions. The 50-share NSE index closed at 1,134.70 points, witnessing a gain of 17.55 points over the previous close of 1,117.15.

The Nifty opened on a firm note at 1,118.45, touched a high of 1,145.40, dipped to a low of 1118.45, before closing at 1134.70 points. According to market sources, the foreign institutional investors (FIIs) considerably slowed down their selling spree which indirectly lent support to the market. Also, there was good amount of buying from the local institutional investors which propped up prices of key pivotals.

The market is now looking for the rupee to firm up which will further boost sentiment. As of now the FIIs are waiting for the government to come out with a statement on the rupee devaluation, in absence of which there will be still some uncertainty in the market, said an NSE dealer. Being the first day of the fresh settlement, operators were willing to take fresh position. The market opened on a very firm note and the first hour witnessed hectic buying.

The total trading turnover at the exchange touched Rs 1,978.99 crore with over 6.66 crore shares changing hands. The Midcap index closed at 1,268.45, registering a gain of 14.25 over the previous close of 1254.20 points. The scrips which witnessed an uptrend were, MRPL, which closed at Rs 22.70 (previous close of Rs 21.20), Glaxo at Rs 426.55 (Rs 400.45), MTNL at Rs 259.60 (Rs 246.10), BSES at Rs 193.05 (Rs 183.50) and Cochin Refinery at Rs 140 (Rs 133.70). Among the major losers were, TVS Suzuki at Rs 448.50 (Rs 461), BHEL at Rs 374.45 (Rs 380.95), GE Shipping at Rs 45.75 (Rs 46.35), Reliance Capital at Rs 81.50 (Rs 82) and Indian Rayon at Rs 261.50 (Rs 262.55).

Meanwhile, on the OTCEI, the composite index closed at 111.01, an increase of 1.68 over its previous days close of 109.33. The total turnover was Rs 3.68 lakh involving 0.16 lakh shares & debentures. Major contribution was from listed equity of Rs 3.68 lakh from 16,000 shares.