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Reactivated bulls, FIIs help prices to firm up; Nifty up 11 points, 828.35

Share prices firmed up moderately on renewed buying support from foreign financial institutions and bull operators on the national stock exchange today.

Mirroring the uptrend, the S&P CNX Nifty rose by 11.30 points to 828.35 points from 817.05 points of the previous day.

The CNX Nifty Junior also improved by 10.35 points to 1395.30 points while the S&P CNX Defty moved up by 9.05 points to 674.55 points from 665.50 points.

The S&P CNX 500 index looked up by 5.55 points to 567.73 points and CNX Midcap 200 index edged up by 2.43 points to 509.73 points.

The total turnover in 168,081 trades of 49.98 million shares was Rs 12.94 billion and the debentures traded were worth Rs 3.02 million.

About 453 securities advanced, 436 declined while 119 remained Unchanged while 23 securities hit their price bands today. The net investment by FIIs was Rs 101.3 million while the domestic institutions were net sellers worth Rs 20.1 million.

Among the top gainers, Ranbaxy improved from Rs 249.55 to Rs 261.85, ITC from Rs 675 to Rs 707.95, Glaxo from Rs 557.85 to 579, Tisco from Rs 90.75 to Rs 94 and Gujarat Ambuja Cement from Rs 216 to Rs 222.25.

Among the top losers, Bank of India declined from Rs 20.95 to Rs 20.35, Orient Bank from Rs 38.05 to Rs 37.50, IDBI from Rs 36.25 to Rs 35.80, HPCL from Rs 231.35 to Rs 228.50 and HDFC Bank from Rs 51.80 to Rs 51.20.

ITC registered the highest turnover of Rs 4.16 billion, followed by Satyam Computers (Rs 1.52 billion), SBI (Rs 930.4 million), Zee Telefilms (Rs 717.4 million), Pentafour Software (Rs 655.6 million), Reliance (Rs 590.2 million), Telco (Rs 428.5 million), ACC (Rs 345.9 million), Tisco (Rs 312.6 million) and Castrol (Rs 212 million).

The other actively traded counters were: HCL-HP (Rs 180.5 million), Tata Tea (Rs 171.1 million), Silverline (Rs 154.2 million), Glaxo (Rs 146.1 million), Infosys Technologies (Rs 131.3 million), Square D Software (Rs 129.4 million), Ranbaxy (Rs 127.3 million) and Dr Reddy's (Rs 122.5 million).

The wholesale debt market of NSE witnessed trades worth Rs 3.81 billion today. The 11.40 per cent government loan maturing in 2000 was traded for Rs 400 million at a weighted yield of 11.34 per cent. The 364-day treasury bill maturing on December 4, 1999 was traded for Rs 400 million at a weighted yield of 10.43 per cent. Commercial papers worth Rs 490 million were traded today.

The commercial paper of IPCL maturing on January 07, 1999 was traded for Rs 100 million at a weighted yield of 10 per cent. A repo trade worth Rs 40 million was transacted at eight per cent for a repo term of four days.

UNI

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