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Pivotals post handsome gains on FII buying support; Nifty up 19 points, 879.85

Pivotals recorded handsome gains on good buying support from the foreign institutional investors and domestic institutions at the National Stock Exchange today.

The S&P CNX Nifty Index firmed up by 18.75 points to end at 879.85 from the previous close of 861.10. CNX Nifty Junior also improved by 36 points to 1496.70.

S&P CNX Defty moved up by 15.60 points to 717.10. S&P CNX 500 and CNX Midcap 200 edged up by 14.27 and 10.55 points to end at 600.70 and 536.54 respectively.

A total of 679 scrips advanced, 294 declined and 93 were unchanged. 84 securities hit their price bands.

The total turnover was Rs 198.98 billion in 81.3 million shares in 256,592 trades. Debentures traded were valued at Rs 4.04 million.

Satyam Computers topped the turnover list with Rs 3.33 billion followed by Pentafour Software (Rs 3.06 billion), ITC (Rs 2.63 billion), Zee Telefilms (Rs 1.19 billion) and Reliance (Rs 1.02 billion).

The top gainers were Arvind Mills, Tata Chemicals, Bank of India, Castrol and Indian Rayon. The losers were Smithkline, Glaxo, Gujarat Ambuja, Asea Brown Boveri and Procter and Gamble.

The wholesale debt market of the NSE witnessed trades worth Rs 3.25 billion. The 11.40 per cent government loan maturing in 2000 was traded for Rs 500 million at a weighted yield of 11.33 per cent. The 11.55 per cent government loan maturing in 2001 was traded for Rs 700 million at a weighted yield of 11.55 per cent.

Commercial paper of Larsen and Toubro maturing on March 30, 1999 was traded for Rs 100 million at a yield of 10.90 per cent.

UNI

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