Interestingly, although the counters of Videocon International and BPL continued to be frozen at the lower limits on the local bourses, market saw the deals being executed in the form of all or none transactions which were later entered into the main system of both BOLT and NEAT.

On the Bombay Stock Exchange (BSE) the Videocon International continued to be frozen at the circuit limit of Rs 83.65. However a phenomenal volume of 5.18 lakh shares were reported at the end of the day on the system.

Similarly, in the case of BPL, while during the first phase of the session the freeze limit of Rs 229.70 was withdrawn for a brief period of time and some deals were executed at a price of Rs 234.90, the stock was hammered down back to the lower limit of the price band. The counter however recorded a huge volume of 4.28 lakh shares. On the NSE the scripfell by 9.97 per cent to close at Rs 209.10.

"The negotiated route was the only resort left open for these bull operators who wanted to shift their positions," said a BSE broker.

"Since the stocks have been under the circuit filter it was difficult for these operators to liquidate their long positions and neither do they have the financial strength to take deliveries," he said.

The news of the successful implementation of such deals puts an end to a part of the speculation that the bulls who are not in a position to pay for their long positions marked for delivery may face a deadly consequence at the payin which was conducted on the BSE. The Sterlite counter had a different story for the market observers. It traded in the band of Rs 168 and Rs 200.40 on BSE, the intra-day's low and high before closing at Rs 176.60, with a volume of 7.72 lakh shares.