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Market hits new high at Rs 2.82 lakh crore

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October 28, 2010 18:50 IST

MoneyStock market turnover on Thursday touched a record high of Rs 2.82 lakh crore (Rs 2.82 trillion), as bullish investors took fresh positions on account of month-end expiry in the derivative segment.

The combined turnover in the futures and options segment and cash segment on the two premier bourses -- the National Stock Exchange and Bombay Stock Exchange -- was at Rs 2.82 lakh crore (Rs 2.82 trillion), up by Rs 46 crore (Rs 460 million) compared to the previous record of Rs 2.36 lakh crore (Rs 2.36 trillion) seen last month only.

The turnover in the futures and options segment of National Stock Exchange was about Rs 2.43 lakh crore (Rs 2.43 trillion) on Thursday.

Analysts said that volume was high, mainly due to heavy transaction on the last date for settlement in F&O contracts.

"The turnover crossed all time high surging past the Rs 2.82 lakh crore (Rs 2.82 trillion). It was possible mainly on the account of fresh positions taken by

the investors," SMC Global Securities Head of Research Jagannadham Thunuguntla said.

Interestingly, the previous record was also made on the settlement day last month.

The BSE benchmark Sensex on Thursday slipped below the magical 20,000 level and ended 64 points lower at 19,941.04.

It was an absolute bear attack in the last half an hour of the day.

Selling was so severe in the last half and hour, it was whipsaw, markets just crashed and it was in huge volumes, brokers said.

"The selling was so severe; it wiped out nearly 60 points from Nifty index within two minutes not giving any opportunity for the traders to square-off their positions," IIFL's head of research Amar Ambani said.

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