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FIs revert to sell mode, pressure pivotals down; Nifty down 6.4 points to 863.60

Pivotals declined on selling pressure from foreign institutional investors and domestic institutions on the National Stock Exchange today.

The S&P's CNX Nifty opened at 871.65, touched the day's high of 874.75, low of 861.95 and closed at 863.60 showing a net loss of 6.40 points from the previous close of 870.

CNX Nifty Junior also fell by 4.05 points to 1433.60 from the previous close of 1437.65.

S&P's CNX Defty lost 4.85 points to end at 702.90 from the previous close of 707.75. S&P's CNX 500 declined by 4.36 points to end at 585.63, while CNX Midcap 200 shed 1.73 points to end at 520.05.

The total turnover on the NSE reported during the day was Rs 13.46 billion from 55.2 million traded shares in 185,088 trades. Debenture traded value was Rs 3.73 million.

A total of 371 scrips advanced, 574 declined and 120 remained steady. And 25 securities hit their price bands today.

Satyam Computers topped the turnover list with Rs 33.33 million followed by Pentafour Software (Rs 1.49 billion), Zee Telefilms (Rs 1.20 billion), ITC (Rs 1.02 billion), SBI (Rs 779.1 million) and Reliance (Rs 571.2 million).

Others that recorded a high turnover were Telco, Tisco, Castrol, HCL-HP, glaxo, L&T and Infosys. The top gainers were Tata Chemicals, Gujarat Ambuja, Procter and Gamble, Nestle and Mahindra and Mahindra while losers were HDFC, Ranbaxy, Glaxo, Tisco and IPCL.

The wholesale debt market of the NSE witnessed trades worth Rs 2.37 billion. The 11.55 per cent government loan maturing in 2001 was traded for Rs 650 million at a weighed yield of 11.49 per cent. The 13.25 per cent government stock maturing in 2000 was traded for Rs 400 million at a weighted yield of 11.18 per cent. Commercial paper of Madras Cement Limited maturing on February 12, 1999 was traded for Rs 50 million at a yield of 10.30 per cent.

UNI

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