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Nifty dips 9.25 points

Pivotals could not sustain the early gains in the day following selling pressure from bull operators and local institutions towards the fag end of trading on the National Stock Exchange today.

The NSE-50 index opened steady at 1206.35 points, touched day's high of 1215.05 points, low of 1194.50 points, and closed at 1197.05 points, suffering a loss of 9.25 points as against the previous close of 1206.30 points.

The dollar NSE-50 index settled at 1045.10 points over the yesterday's close of 1052.35 points, losing 7.25 points. The Midcap index closed at 1616.70 points as compared to last trading day's close of 1630.20 points, decreasing 13.50 points.

The total turnover on the exchange was Rs 13.19 billion involving 75.48 million shares in 255,356 trades.

Top gainers were Ind rayon closing at Rs 239.10 from Rs 221.2, IDBI finished to Rs 104.85 from Rs 97.60, Tata Chem rose to 178.05 from Rs 172.15, Hindalco drifted higher to Rs 756.50 from Rs 736.25, and Grasim hardened to Rs 338.30 from Rs 333.50.

Among the losers were Ashok Ley declined to Rs 54.80 from Rs 58.50, Arvind Mills decreased to Rs 81.95 from Rs 86.75, Rel Petro to 24.85 from Rs 26.05, Indo Gulf to Rs 48.05 from Rs 49.85, and Oriental Bank came down to Rs 75.90 from Rs 78.45.

Hectic trading was witnessed at ITC (Rs 2.2 billion), Castrol (Rs 1.4 billion), SBI-N (Rs 1.1 billion), Reliance (Rs 864.3 million), Tata Tea (Rs 731.1 million), Hind Lever (Rs 535.4 million), ACC (Rs 435 million), TISCO (Rs 327.3 million), ICICI (Rs 286.7 million), Infosys Tech (Rs 267.5 million), TELCO (Rs 236.2 million), BHEL (Rs 235.1 million), Hindalco (Rs 175.3 million), Glaxo (Rs 158.4 million), Bajaj Auto (Rs 141.3 million), BSES (Rs 133.7 million), IDBI (Rs 115 million), MTNL (Rs 110.8 million), BPL (Rs 107.3 million), LML (Rs 102.9 million), Tata Chem (Rs 99.1 million), Colgate (Rs 94.8 million), Sterlite (Rs 94.3 million), L and T (Rs 84.4 million) and Wart Diesel (Rs 83.7 million) counters.

About 386 securities have hit their price bands.

UNI