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Pivotals fall further, Nifty 934.40

The market sentiments remained depressed on the National Stock Exchange today and pivotals exhibited a further downslide following heavy selling pressure from foreign institutional investors and speculators.

Mirroring the downtrend, the NSE-50 or Nifty Index opened higher at 965.35, fell to touch the day's low of 931.75 points and later finished at 934.40, showing a net loss of 31.30 points against the previous close of 965.70 points.

The NSE-50 (Dollar) Index or Defty drifted lower by 26.55 points to 761.90 against the previous close of 788.45 points.

The Midcap Index moved down by 46.00 points to 1414.80 points against the previous close of 1460.80 points.

Total turnover on the NSE reported during the day was at Rs 14.24 billion from the trading of 50.81 million shares.

The FIIs sold shares worth Rs 46.42 million while dometic institutional investors and mutual funds' net selling stood at Rs 3.6 billion.

About 234 securities advanced, 733 declined and 82 remained unchanged.

Satyam Computers registered highest turnover of Rs 3.71 billion, followed by ITC Rs 3.10 billion, SBI Rs 853.7 million, Reliance Rs 759.3 million and Pentafour Software Rs 579.8 million.

Other actively traded counters were ACC (Rs 467.6 million), Tata Tea (Rs 467.6 million), Tisco (Rs 363.9 million), Zee Telefilms (Rs 350 million), BFL Software (Rs 331.6 million), Castrol (Rs 299.3 million), Telco (Rs 196.3 million), L&T (Rs 183.7 million), Infosys Tech (Rs 157 million), Digital Equipment (Rs 138.6 million), Hindustan Lever (Rs 136.8 million), Silverline (Rs 134.5 million), Dr Reddy's (Rs 113.9 million), MTNL (Rs 94.3 million), BHEL (Rs 88.1 million), Square D Software (Rs 87 million), Bata India (Rs 82.5 million), Bajaj Auto (Rs 75.2 million) and HCL-HP (Rs 71.2 million).

None of the issues could register any gain in the market today, while major losers included Tisco closed lower by 7.97 per cent to Rs 113.10, Ashok Leyland down by 7.24 per cent to Rs 34.55, ACC by 6.48 per cent to 1251.55, Thermax by 6.09 per cent to Rs 171.30 and BHEL lost by 6.04 per cent to 227.90.

UNI