While most scrips fell, some of them swam against tide

While the biggest market crash sent almost all stocks tumbling down, some stocks withstood the sustained selling pressure and gained ground.

While the biggest market crash sent almost all stocks tumbling down, some stocks withstood the sustained selling pressure and gained ground. Stocks like Adani Exports, Vardhman Spinning and Jolly Board led the gainer’s list on the day when the market witnessed a 826-point bloodbath.

‘‘The mood was already grim but some stocks did well,’’ said BSE broker Motilal Oswal. ‘‘We have to see how the market behaves after the futures and options contracts for the next week expire’’.

Adani Exports and Voltas were the only two stocks that gained ground in the A group — where blue chips are listed. Adani ended 2.4 per cent higher at Rs 188.75 after surging 5 per cent to reach its upper circuit limit for the day at Rs 193.45 in the intraday trade. NIIT managed to close unchanged.

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Adani has witnessed a surge over the past one month on the back of the company’s huge investment plans in developing real estate in Gujarat and Mumbai. It is also setting up a new power plant and making further investments in mining.All the stocks on the Sensex, S&P CNX Nifty and BSE 100 indices closed in the red, while there were only three BSE 200 scrips and five BSE 500 scrips that closed in the positive territory.

Voltas which showed a 0.13 per cent rise had recently come out with good results for the fiscal ended March 2006. “However, stocks of many companies which came out with good results were pounded on Thursday’s session,” said BSE dealer Pawan Dharnidharka.