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Budget wipes out earlier Nifty gains

Equities drifted lower in a post-Budget trading session following speculative selling pressure on the National Stock Exchange today.

The NSE -50 index declined by 9.40 points to 1053.75 as against the previous close of 1063.15 points. The Dollar NSE-50 (Defty) also decreased 7.55 points to 875.30 points as compared to 882.85 points of the previous day.

The Midcap index too lowered by 8.95 points to 1611.25 points from 1620.20 points of last working day.

During the pre-Budget session, the securities registerd smart gains due to heavy speculative buying and the Nifty gained by 29.05 points while the Defty had improved by 24.40 points over the previous close. The total turnover in 107.293 million shares in 337,864 trades was Rs 24.9 billion and 568 scrips advanced, 492 declined, 76 remained unchanged while 152 securities have hit their price bands today.

ITC registered the highest turnover of Rs 4.2 billion, followed by Satyam Comp 3.7 billion, Reliance 3 billion, Tisco 1.2 billion, ACC 1 billion, BPL 990.5 million, Pentsfware 892.4 million, L and T 759.2 million, Zee Tele 745.7 million, SBI-N 736.8 million, Telco 661 million, Videocon Int 620.7 million and Sterlite 531.3 million.

The other actively traded securities were Tata Tea 462.4 million, Silver Line 416.4 million, Infosys Tech 241.6 million, BFL Software 237.9 million, Bajaj Auto 209.2 million, BHEL 208.6 million, SQRD Sfware 206 million, LML 189.5 million, HCL-HP 178.1 million, Hind Lever 173.4 million, ICICI 153.5 million and Castrol 137.1 million.

IPCL was the top gainer with 6.27 per cent increase, followed by MRPL 3.90 per cent, Hindalco 3.84 per cent, BPCL 3.54 per cent and L&T 3.36 per cent while M&M figured first in the losers list with 7.02 per cent lose, followed by Tata Tea 5.90 per cent, BHEL 5.28 per cent, Telco 4.85 per cent and ITC 2.86 per cent.

UNI