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FIIs turn focus on MUL shares


MUMBAI JULY 9. Equities ended moderately lower pushing the Sensex in the negative territory even as the listing of Maruti Udyog (MUL) highlighted trading on the Mumbai Stock Exchange and the National Stock Exchange on Wednesday on sustained buying support from institutional investors.

The BSE benchmark 30-share index rallied to the intra-day high at 3644.88 at early stages. It later dipped to the day's low of 3604.96 before ending at 3620.79 against the previous close of 3629.68, netting a loss of 8.89 points. The broadbased BSE-100 index dropped by 11.69 points to 1828.89.

The focus of attention was MUL throughout the session with foreign institutional investors and private mutual funds making heavy purchases in the scrip at a premium over the book-built price of Rs. 125. It clocked a turnover of 1.61 crore shares on the BSE and around three crore shares on the NSE.

In the specified group, 166 including 22 index-based counters registered marked to moderate losses while 31 others closed with gains. MUL, listed in the specified group, traded between Rs. 170.25 and Rs. 156.10 before closing at Rs. 164.05. The volume of business was relatively low at Rs. 1,325.36 crores against Rs. 1,438.92 crores yesterday. MUL was the top traded share with the highest turnover of Rs. 267.07 crores followed by Infosys (Rs. 101.18 crores) and Reliance (Rs. 44.38 crores). After showing signs of a rally ahead of an announcement of the first quarter results by IT bellwether Infosys Technologies on July 10. — PTI

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