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Trading remains mixed, Nifty steady; 897.25 points

Despite good buying support from foreign institutional investors and domestic institutional investors on the last day of current settlement today, pivotals declined marginally on the National Stock Exchange while selected pivotals recovered marginally over their previous close.

The S&P CNX Nifty opened at 897.85 points, touched the day's high of 900.80 and fell to the day's low of 891.40, finally closing at 897.25 points, showing the loss of 0.45 points against the previous close of 897.70.

The CNX Nifty Junior also eased by 4.20 to 1482.70 points against the previous close of 1486.90 points.

S&P CNX Defty dropped by 0.45 to 731.50 from 731.95 points and CNX Midcap 200 lost by 2.20 to 533.41 from 535.61 points while S&P CNX 500 moved up by 0.23 to 612.37 from 612.14 points of previous close.

The total turnover of the NSE was Rs 14.26 billion involving 57.35 million shares and 188,761 shares. The debenture traded value was Rs 1.4 million. The 442 shares were advanced, 600 lost while 96 remained unchanged.

ITC registered highest turnover of Rs 2.74 billion followed by Pentafour Software Rs 1.90 billion, Zee Telefilms Rs1.39 billion, Satyam Computers Rs 1.28 billion, Reliance Rs 1.09 billion, SBI New Rs 706.1 million, BHEL Rs 452.8 million, HCL-HP Rs 444.5 million, Dr Reddy's Rs 355.2 million, Tata Tea Rs 350.8 million, Castrol Rs 205.1 million, BFL Software Rs 205.1 million, ACC Rs 185.7 million, MTNL Rs 165.1 million, Hindustan Lever Rs 157.1 million, L&T Rs 147.5 million, Silverline Rs 137.9 million, Telco Rs 132.9 million, Digital Equipment Rs 112.4 million, Infosys Tech Rs 102.4 million, NIIT Rs 97.9 million, Tisco Rs 81.5 million, Square D Software Rs 79.5 million, Software Solutions Rs 61.8 million and Rolta 55.3 million.

The top five S&P CNX Nifty gainers for the day BHEL (Rs 266.05), IPCL (Rs 55.55), MTNL (Rs 212.25), Hindustan Lever (Rs 1661.85) and Tata Power (Rs 93.95) while the losers were M&M (Rs 167.15), Indian Rayon (Rs 128.35), Gujarat Ambuja Cement (Rs 194.05), Thermax (Rs 176.05) and HDFC Bank (Rs 68.60).

The FII's purchases worth Rs 441.8 million against their sales worth Rs 183.8 million, thereby bringing in net investment of Rs 257.9 million while the financial institutions and mutual funds bought shares worth Rs 140.2 million against sales worth Rs 40.9 million, recording a net investment of Rs 99.2 million.

The wholesale debt market of NSE with trades worth Rs 3 billion. The 12.30 per cent government loan maturing in 1998 was traded for Rs 400 million at a weighted yield of 10.45 per cent. The 11.55 per cent government loan maturing in 2001 was traded for Rs 400 million at a weighted yield of 11.55 per cent. Commercial paper of Telco maturing in October 20, 1998 was traded for Rs 5 crore at a yield of 10.75 per cent. Two repo trades worth Rs 200 million were transacted at repo rates of 9.75 per cent for 14 days.

UNI