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Prices decline as settlement ends; Nifty slides 7.2 points to 872.65

Pivotals' prices declined on selling by local operators and poor buying support of foreign institutional investors and domestic institutions at the National Stock Exchange today.

The S&P CNX Nifty Index eased by 7.20 points to end at 872.65 from the previous close of 879.85. CNX Nifty Junior also fell by 3.05 points to 1493.65. S&P CNX Defty moved up by 6.35 points to 710.75. S&P CNX 500 and CNX Midcap 200 drifted by 1.92 and 1.76 points to end at 598.78 and 534.78 respectively.

A total of 477 scrips advanced, 537 declined and 119 were unchanged while 49 securities hit their price bands.

The total turnover was Rs 20.23 billion from trading in 76 million shares in 255,626 transactions. Debentures traded were valued at Rs 13.6 million.

Satyam Computer topped the turnover list with Rs 4.14 billion followed by Pentafour Software (Rs 3.86 billion), ITC (Rs 1.85 billion), Castrol (Rs 1.04 billion) and Zee Telefilms (Rs 960.7 million).

Others that posted a high turnover were Telco, Silverline, Reliance, SBI, Tisco, Tata Tea, HCL-HP and ACC.

The top gainers were ACC, Arvind Mills, Bank of India, Tisco and L&T. The losers were OBC, IPCL, East India Hotels, Indian Hotels and Reliance Capital. FIIs were buyers to the tune of Rs 72.2 million while Indian FIs and mutual funds bought Rs 33.6 million.

The wholesale debt market of the NSE witnessed trades worth Rs 4.05 billion.The 11.40 per cent government loan maturing in 2000 was traded for Rs 900 million at a weighted yield of 11.31 per cent.

The 12 per cent converted stock maturing in 1999 was traded for Rs 400 million at a weighted yield of 10.26 per cent.

Commercial paper of Industrial Oxygen Company Limited maturing on March 10, 1999 was traded for Rs 50 million at a yield of 10.50 per cent.

UNI

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