RIL surges, volume zooms

The BSE sensitive index started better at 4100.37 and later moved in a range of 4148.99 and 4089.94, before closing at 4116.56 with a modest gain of 22.94 points against yesterday’s close of 4093.62. The BSE-100 index also edged up by 6.83 points to 1768.03 from the previous close of 1761.20.

Brokers said the market is likely to improve further in the coming session in view of the lowering of the interest rates to 10 per cent from 11 per cent by the Reserve Bank of India and the liberal bonus proposal by the market leader Reliance. The partial reaction at the end of session was mainly due to selling pressure by the domestic financial institutions led by UTI.

Reliance recorded highest turnover of Rs 493.98 crore of the total business of Rs 1158.29 crore. Other active scrips were SBI (Rs 198.79 crore), ITC (Rs 170.06 crore), ACC (Rs 34.67 crore) and Telco (Rs 32.61 crore). SBI edged up by Rs 2.75 to Rs 342, ACC by Rs 34.50 to Rs 1344.75 and ITC by Rs 18.25 to 512.75.

On the NSE volumes soared past Rs 3000-crore mark, the highest ever recorded on a single day in the history of the capital market. Reliance showed a turnover of Rs 1580.97 crore. The price of the scrip shot up by 3.03 per cent from Rs 368.55 to Rs 379.70. The NSE-50 index closed at 1168.20, with a modest gain of 6.30. The Midcap index ended at 1169.00, with a loss of 2.60.

The total traded value was Rs 3080.61 crore.