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NSE slides 35.10 points

Pivotals suffered a further setback on the National Stock Exchange today on sanctions imposed by the US following nuclear test conducted by India in last month and massive unloading by foreign institutional investors.

The NSE-50 index opened at 955.05 points, touched day's high of 955.05 points, low of 910.55 points and closed at 913.25 points suffering a loss of 42.90 points as against the previous close of 956.15 points. Dollar nse-50 index closed at 749.85 points losing 35.10 points over the yesterday's close of 784.95 points.

The Midcap Index settled down at 1260.60 points declined by 56.70 points, compared to the last trading day's close of 1317.30 points. The total turnover on the exchange was Rs 8.44 billion, involving 42.19 million shares in 136,980 trades. The debentures traded were value at Rs 316,000. There were no gainers in the exchange. Among the losers were Arvind Mills, declining to Rs 42.45 from Rs 47.15, Guj Ambuja Cement, down to Rs 253.45 from Rs 280.30, ACC down to Rs 1169.20 from Rs 1278.55, Ind Hotel easing to Rs 436.50 from Rs 473.70 and Asian Paints, down to Rs 228.15 from Rs 246.90.

As many as 43 securities have hit their price bands, 154 advancing, 771 declining and 67 scrips remaining unchanged.

ITC registered the highest turnover of Rs 2.83 billion followed by SBIN (Rs 1.30 billion), RIL (Rs 724.4 million), Satyam Comp (Rs 403.5 million), Telco (Rs 248.4 million), L and T (Rs 239.2 million), Hind Lever (Rs 214.2 million), Tata Tea (Rs 151.1 million), Castrol (Rs 148.2 million), ACC (Rs 134.3 million), Infosystch (Rs 128 million), Tisco (Rs 119.6 million), Bajaj Auto (Rs 96.3 million), MTNL (Rs 87.9 million), Zee Tele (Rs 87 million), Penstsfware (Rs 82.1 million), Sqrdsfware (Rs 81.6 million), Wipro (Rs 78.4 million), BFL Software (Rs 67.7 million), LML (Rs 67.1 million), ICICI (Rs 64.7 million), Hero Honda (Rs 62.7 million), Sterlite (Rs 56.9 million), Rel Petro (Rs 47.5 million) and NIIT (Rs 46.7 million).

The wholesale debt market of the NSE witnessed trading worth Rs 2.54 billion. The 11.64 per cent government loan maturing in 2000 was traded for Rs 350 million at a weighted yield of 11.07 per cent. The 11.75 per cent government loan maturing in 2001 was traded for Rs 300 million at a weighted yield of 11.40 per cent. The 12 per cent government loan maturing in 2008 was traded for Rs 200 million at a weighted yield of 12.11 per cent.

The Repo trades worth Rs 120 million were traded at 5.1 per cent and 7.85 per cent for Repo terms of three days and seven days respectively.

Commercial papers of Telco, maturing on August 7,1998, were traded at 10.40 per cent for Rs 100 million.

UNI