Stocks firmed up at major bourses yesterday with market sentiments improving on account of the easing of political tension at the Centre, the announcement of a market-friendly RBI credit policy and selective buying support from FIIs. The 30-share Sensex closed yesterday at 3696.52, a gain of 49.08 points over the previous close of 3647.44 on Tuesday. Equities at the NSE also made smart recovery during yesterdays trading. The NSE 50-share index moved up by 20.30 points to close at 1035.20 against the previous close of 1014.90 points.
Trading in kerb was also strong with Reliance up sharply, quoting at Rs 291.5 (Rs 280), SBI touching Rs 300 (Rs 296), ITC at Rs 421 and Tisco at Rs 174.
At the NSE, hectic activity was witnessed in the RIL counter with the scrip gaining nearly Rs 14 during the course of the day. The RIL scrip closed at Rs 279.70 as against the previous close of Rs 265.55 and 1.28 crore shares worth Rs 354.68 crore was traded on the NSE. At the BSE, Reliance closed at Rs 280, up Rs 12 over the previous close.
The no-delivery period at the BSE commences today and on Wednesday at the NSE.
According to brokers, bank stocks reflected the sentiment to the credit policy with SBI, Oriental Bank and HDFC Bank being major gainers for the day at the BSE. SBI was in the forefront with the scrip closing at Rs 296.25 at the BSE, up by Rs 19.50 over the previous close. The scrip recorded a turnover of Rs 228.52 crore and 77.91 lakh shares changed hands during the day.
Oriental Bank closed the day at Rs 75.25 up Rs 2.75, HDFC Bank climbed to Rs 55.75 up Rs 3.75, Bank of Baroda was at Rs 104 a rise of Rs 4 and Bank of Rajasthan rose Rs 3 to Rs 82.25.
FIIs were reported to have been active in L&T, IPCL, HPCL, BPCL, Hindalco, and Colgate. Sources also informed that there was a negotiated deal of 50,000 shares in Hindalco involving an FII.
Said a leading broker: Despite yesterday being the last day of the settlement, operators were building up positions. In case there is no adverse reaction on the political front, the market will reopen on a stronger note on Monday.
The traded volume at the BSE touched Rs 678.34 crore while at the NSE it stood at Rs 1252.67 crore with nearly 5.34 crore shares changing hands.
Tata Infotech in the B1 group touched the upper end of the filter level as well as an intra-day high of Rs 609.25 before ending the day at Rs 607 at the BSE. This was a climb of Rs 50.50. Other scrips which hit the circuit filter at the upper limit during the day were BFL Software, Satyam Computer and ITI.
Among the gainers at the BSE were Bajaj Auto at Rs 946.75 which rose Rs 13.75, L&T at Rs 218.75 which climbed by Rs 6.50, Colgate at Rs 296 which increased by Rs 9.50 and Hindalco at Rs 941.50 which rose by Rs 17.
