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Prices slide further under FII pressure; Nifty 895.55

Pivotals declined further on selling pressure from foreign investment institutions and low sentiment prevailed in the National Stock Exchange here today.

S&P CNX Nifty opened steady at 902.75, touched the day's high of 903.55 and low of 892.90 before closing at 895.55, decreasing 7.20 points as against the previous close of 902.75.

The CNX Nifty Junior closed at 1464.10, increased by 18.45 over the last close of 1445.65 points.

The S&P CNX Defty finished at 728.40 from 736.20 showing a loss of 7.80 points. S&P CNX 500 also eased by 1.04 points to 606.66 points from 607.70 points while CNX Midcap 200 index shot up by 5.22 points to 522.94 from 517.72 points.

The total turnover on the exchange was Rs 12.09 billion involving 41.04 million shares in 150,996 trades, the debenture traded value was Rs 1.38 million. There were 400 scrip advances, 488 declines while 117 remained steady.

The FIIs' turnover slid by 449.21 million, they bought Rs 207.35 value of shares and sold Rs 469.95 million of shares. However , FIs/MFs net value gained by Rs 166.18 million, FIs/MFs purchased Rs 207.64 million of shares and sold Rs 41.46 million shares.

The top gainers included Telco 145.50 (3.30), Ashok Leyland 29.95 (3.28), TVS Suzuki 435.35 (1.86), Nestle 449 (1.52) and Tata Tea 307.50 (1.13) while losers were BPCL 294.60 (6.43), M&M 138.50 (4.15), MTNL 200.55 (3.88), HPCL 290 (3.80) and Arvind Mill 36.95 (2.64).

There were 20 securities that hit their price bands.

ITC registered the highest turnover of Rs 2.46 billion followed by Satyam Computers Rs 2.15 billion, Zee Telefilms Rs 1.27 billion, SBI Rs 664.1 million, Dr Reddy's Rs 630.3 million, Infosys Tech Rs 609.3 million, Reliance Rs 595.9 million, Tata Tea Rs 505.5 million, Pentafour Software Rs 470.4 million, Castrol Rs 302.1 million, MTNL Rs 204.4 million, ACC Rs 172.3 million, Britannia Rs 131.3 million, Hindustan Lever Rs 125.2 million, L&T Rs 120.7 million, BFL Software Rs 114.7 million, Tisco Rs 89.3 million, Nestle Rs 86.9 million, Software Solution Rs 74.5 million, ICICI Rs 70.9 million, HPCL Rs 63.3 million, Silverline Rs 55.4 million, BHEL Rs 55.4 million and BPL Rs 51 million.

The wholesale debt market of NSE witnessed trading worth Rs 6.42 billion. The 11.55 per cent government loan maturing in 2001 was traded for Rs 1.15 billion at a weighted yield of 11.40 per cent.

The 11.68 per cent government loan maturing in 2002 was traded for Rs 500 million at a weighted yield of 11.60 per cent. The 12.5 per cent government stock maturing in 2004 was traded for Rs 450 million at a weighted yield of 11.87 per cent. Commercial paper of Finolex Cables maturing on October 15, 1998 was traded for Rs 100 million at a yield of 9.25 per cent.

UNI