20.5.09

NSE beats NYSE in trade volume


The sensex ended Tuesday’s trading session up just 18 points over the previous close at 14,302 while the nifty was down five points at 4,318. But in between, there was pure frenzy. As the markets see-sawed through the day, the number of trades executed on the National Stock Exchange (1.12 crore) surpassed the corresponding number for the New York Stock Exchange (83 lakh) on the previous day. The combined turnover on the NSE and BSE also touched a new peak of Rs 1.58 lakh crore. The NSE’s cash segment alone recorded a turnover of over Rs 40,000 crore, a leap of almost Rs 12,000 crore over its previous best of Rs 28,000 crore, recorded in November 2007. The day’s trading made investors richer by Rs 2.6 lakh crore, with the BSE’s market capitalisation now at Rs 44 lakh crore.There was apprehension before the markets opened that the indices could hit another upper circuit, stopping trade as had happened on Monday. But traders were prepared—selling began as soon as the markets opened.
FIIs have pumped Rs 20,000 crore into the Indian stock market in the last 43 days as the sensex rose from around 8,160 to 14,000. In comparison, mutual funds have been net buyers to the tune of just Rs 3,300 crore—around oneseventh of the amount committed by FIIs. According to Sebi data, FIIs had made net investments of Rs 19,820 crore till Tuesday from March 9 (when the 6,000-point rally began)
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