MUMBAI, January 15: The first day of compulsory demat trading by institutions in the eight scrips shortlisted by SEBI saw lacklustre trading in the segment, with volumes on the National Stock Exchange remaining thin. The demat segment on the Bombay Stock Exchange remained dormant. Of the eight stocks in which institutions are required to settle their trades in the demat segment, only three stocks were traded today, namely Reliance, SBI and ICICI, which contributed about 1.65 lakh shares.In fact, the three stocks contributed over 90 per cent to the total turnover registered at the demat segment. However, the remaining stocks, ie IPCL, IDBI, Bank of India, Tisco and L&T failed to attract investors.
According to market sources, institutions were seen dumping their stocks in the physical segment on January 14, which, according to market players, was an effort to liquidate their present holdings and enter into the physical segment once the prices are at the lowest.
``The concession offered to these
investors to purchase dematerialised securities and sell in the physical form has created a hurdle in the path of infusing fresh liquidity in the segment,'' said a dealer.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
