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Nifty drops 2.25 points

Equities fluctuated in a narrow range and the market witnessed a depressing trend due to heavy selling pressure and lack of buying support at the National Stock Exchange today.

The NSE-50 index opened marginally higher at 959.05 and moved up slightly to touch the day's high of 960.25 points. Later, it dipped considerably to 949.65 before closing at 956.65 points, showing a net loss of 2.25 points as against its previous close of 958.90 points.

The Dollar NSE-50 opened nearly steady at 857.50 points and closed at 854.40 points, declined by 3.40 points over its previous close of 857.80 points.

The Midcap index showed some improvement as it gained 0.80 points to close at 1060.95 over its yesterday's close at 1060.15 points.

Ponds, Gujarat Ambuja Cement, ABB, Ind Hotels and EI Hotels were the top five gainers for the day while Ind Rayon, BPCL, GE Shipping, Cochin Refinery and Arvind Mills were among the top five losers.

Sixtynine securities hit their price bands in the exchange.

ITC suffered a considerable fall in its turnover to Rs 2.5 billion but still remained the highest in the market. It was followed by Hind Lever at Rs 1.2 billion, Reliance Rs 98.33 million, Tata Tea Rs 85.07 million, Castrol Rs 775.5 million, SBI-N Rs 498.3 million, Ponds Rs 282.9 million, Bajaj Auto Rs 182.6 million, MTNL Rs 182.2 million, LML Rs 151.5 million, ACC Rs 119.1 million, TELCO Rs 112.7 million, L&T Rs 99.1 million, TISCO Rs 71.6 million, Lakme Rs 45.6, BHEL Rs 43.7 million, Aptech Rs 38.6 million, Reliance Dep LS-ML Rs 32.6 million, BSES Rs 32.2 million, NIIT Rs 30.2 million, Bank of Baroda Rs 29.9 million, ICICI Rs 27.9 million, Glaxo Rs 25.1 million, Ranbaxy Rs 24.9 million, Corp Bank Rs 24.8 million.

UNI