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Pivotals decline as FIIs sell; Nifty down one point, 816.65

Pivotals declined on selling pressure from foreign institutional investors at the National Stock Exchange today.

S&P CNX Nifty opened at 816.55, touched the day's high of 820.85, fell to the day's low of 812.25 before closing at 816.65, showing a net loss of 1.10 points from the previous close of 817.75.

CNX Nifty Junior ended lower by 2.95 points at 1376.55, S&P CNX Defty closed at 664.65, exhibiting a fall of 1.60 points, while S&P CNX 500 and CNX Midcap 200 eased by 1.15 points and 0.67 points to 560.75 and 504.96 respectively.

The total turnover reported on the NSE was Rs 12.40 billion from trading in 57.7 million shares in 188,742 trades and debenture traded value was Rs 5.63 million. A total of 447 scrips advanced, 513 declined and 110 were unchanged while 22 securities hit their price bands today.

Satyam Computers topped the turnover list with Rs 2.20 billion followed by Pentafour Software (Rs 1.78 billion), ITC (Rs 1.37 billion), Reliance (Rs 773.6 million) and Zee Telefilms (Rs 757.6 million).

Others that recorded a high turnover were SBI, Telco, HCL-HP, Silverline, Software Solutions Integrated, Castrol, Tisco and ACC.

The top gainers were Tisco, Tata Power, NIIT, Castrol and HDFC Bank.

Prominent shares that shed value were HPCL, Cochin Refineries, M&M, Grasim and TVS Suzuki. The foreign institutional investors were net sellers to the tune of Rs 72.5 million, while domestic institutional investors and mutual funds bought shares of worth Rs 37.8 million.

The wholesale debt market of NSE witnessed increased activity with trades worth Rs 3.67 billion. The 11.40 per cent government loan maturing in 2000 was traded for Rs 700 million at a weighted yield of 11.36 per cent. The 12.50 per cent IDBI Bond maturing in 1999 was traded for Rs 130 million at a weighted yield of 11.91 per cent. The 91-day treasury bill maturing on February 27, 1999 was traded for Rs 200 million at a weighted yield of 9.52 per cent.

Two repo trades totalling to Rs 450 million were transacted at a repo rate of 8.75 per cent for 14 days.

UNI

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