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Pivotal dip marginally; Nifty down four points, 897.70

Pivotals declined marginally at the National Stock Exchange today on the selling pressure by foreign institutional investors and speculators.

Mirroring the trend, the market opened higher than the previous close, moved in a narrow range and declined towards the end of the trading session.

The S&P CNX Nifty opened at 902.10, touched the day's high of 908.05, fell to touch the day's low fo 895.85 and later ended at 897.70, showing a net loss of 3.95 points against the Friday's close of 901.65 points.

CNX Nifty Junior however gained marginally by 6.50 points to 1486.90 against the previous close of 1480.40 points.

S&P CNX Defty and S&P CNX-500 indices closed lower by 2.75 and 0.67 points to 731.95 and 612.14 points against the previous close of 734.70 and 612.81 points respectively.

CNX Midcap-200 increased by 1.98 points to 535.61 points against the previous close of 533.63 points.

Total turnover on the NSE was Rs 13.38 billion. Debentures' turnover was Rs 706,000. About 53.64 million shares changed hands in 172,643 trades.

During the course of trading, 507 securities advanced, 450 declined while 101 held steady. 50 securities hit their price bands. The foreign institutional investors made purchases worth Rs 105.7 million against their sales of Rs 108 million, reporting a net outflow of funds of Rs 23 million from the market while the domestic institutional investors and mutual funds bought considerably, worth Rs 122.6 million against their lower sales worth Rs 43.5 million and recording net inflow of Rs 79.1 million in the market.

Tobacco giant ITC topped the list of turnover by registering highest turnover of Rs 3.86 billion, followed by Satyam Computer Rs 1.43 billion, Zee Telefilms Rs 1.38 billion, Reliance Rs 1.22 billion and Pentafour Software Rs 1.08 billion.

Hectic activity was observed at the other counters like HCL-HP (Rs 448.5 million), SBI (Rs 441.5 million), Tata Tea (Rs 234.4 million), L&T (Rs 211.6 million), BHEL (Rs 207.8 million), BFL Software (Rs 207.8 million), Dr Reddy (Rs 186.7 million), ACC (Rs 172.6 million), Castrol (Rs 171.1 million), Tisco (Rs 147.1 million), Digital Equipment (Rs 145.8 million), MTNL (Rs 108.6 million), Telco (Rs 102.2 million), NIIT (Rs 93.8 million), Novartis (Rs 91.6 million), Software Solution (Rs 82 million), Silverline (Rs 56.9 million), Hindalco (Rs 44 million) and Rolta (Rs 43.3 million).

Top five S&P CNX Nifty gainers were HDFC Bank closed at Rs 71.50 (67.40 ), Reliance Rs 122.55 (119.95), Reliance Cap Rs 42.85 (42.20), L&T Rs 185.50 (182.70) and Tata Tea Rs 286.20 (282.40).

Top five S&P CNX Nifty losers were Hindustan Petroleum Rs 305.40 (314.50), Hindalco Rs 496 (509.60), HDFC Rs 2511.20 (2574.95), Indian Rayon Rs 135 (138.20) and BHEL Rs 250.15 (255.45).

UNI