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Downtrend persists; Nifty loses over 16 points, 878.75

The market sentiment continued its downtrend as equity prices declined further on hectic selling pressure from institutions and the absence of investors on the National Stock Exchange in Bombay today.

The S&P CNX Nifty decreased by 16.8 points to 878.75 points as against the previous close of 895.55 points. However, CNX Nifty Junior rose further by 09.45 points to 1473.80 points over Friday's close of 1464.10 points.

S&P CNX Defty closed at 713.95 points from 728.40 points losing 14.45 points. S&P CNX 500 came down to 600.61 points from 606.66 points decreasing by 6.05 points.

While CNX Midcap 200 improved by 0.16 points to 523.10 points as compared to the last trading day's close of 522.94 points.

There were 315 advances, 603 declines and 78 scrips remained unchanged. About 27 securities hit their price bands.

On the contrary, the FIIs' investments in share market increased by Rs 3.2 million as they bought Rs 167.99 million shares and sold Rs 164.69 million equities.

The FIs/MFs also bought Rs 93.82 million and sold 62.31 of shares showing an increase of Rs 31.51 million.

ITC recorded highest turnover of Rs 1.98 billion, Satyam Computers Rs 1.31 billion, Pentafour Software Rs 970.4 million, RIL Rs 523.1 million, SBI Rs 493.3 million, Zee Telefilms Rs 475.5 million, Infosys Tech Rs 345.6 million, Telco Rs 344.6 million, Dr Reddy's Rs 327.5 million, Castrol Rs 319.9 million, Tata Tea Rs 292.1 million, ACC Rs 287 million, Software Solution Rs 138.7 million, Hindustan Lever Rs 115.6 million, Dabur Industries Rs 100.5 million, NIIT Rs 92.3 million, L&T Rs 90.2 million, ICICI Rs 85.4 million, Tisco Rs 85.1 million, BFL Software Rs 81.3 million, MTNL Rs 76.5 million, HCL-HP Rs 73.8 million, Silverline Rs 65.1 million, Digital Equipment Rs 61 million, ONGC Rs 59.1 million.

Top gainers were ITC which rose to Rs 46.6 from Rs 45.45, ABB to Rs 420.30 from Rs 411.90, GE Shipping to Rs 26.8 from Rs 26.3, Glaxo to Rs 376.45 from Rs 370.15, BHEL increased to Rs 209.65 from Rs 208.35.

Among the losers were Telco which declined to Rs 134.05 from Rs 145.50, BPCL decreased to Rs 276.3 from Rs 294.6, Ashok Ley came down to Rs 28.35 from Rs 29.95, ACC to Rs 1198.1 from Rs 1251.3 and Ranbaxy to Rs 540.9 from Rs 563.95.

The wholesale debt market of NSE witnessed trading worth Rs 3.11 billion.

The 11.68 per cent government loan maturing in 2002 was traded for Rs 400 million at a weighted yield of 11.57 per cent.

The 12 per cent government stock maturing in 1999 was traded for Rs 350 million at a weighted yield of 9.24 per cent.

The 364-day Treasury Bill maturing on November 24, 1988 was traded for Rs 150 million at a yeild of 7.44 per cent. The corporate floating rate bond of RIL maturing in 1999 was traded at 9.72 per cent for Rs 250 million.

UNI