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Pivotals make smart recovery; Nifty climbs 10 points, 907.75

Pivotals recovered smartly at the first day of the current settlement on the National Stock Exchange today.

The S&P CNX Nifty opened slightly higher at 897.90, touched the day's high of 910.75 and the day's low of opening level 897.90 and finally closed at 907.75 points, showing the profit of 10.50 points against the previous close of 897.25 points.

The CNX Nifty Junior also firmed up by 32.30 from 1482.70 to 1515.00 points. S&P CNX Defty gained by 7.90 to 739.40 from 731.50 points, S&P CNX 500 moved up by 9.91 from 612.37 to 622.28 and CNX Midcap 200 index increased by 13.14 to 546.55 from last close of 533.41 points.

The total turnover traded value was Rs 13.40 billion from 54.88 million shares in 182,301 trades. The debentures traded value was Rs 999,000. The 667 shares were advanced, 291 declined while 93 remained unchanged. The 80 securities hit their price bands.

Satyam Computers registered the highest turnover of Rs 3.41 billion followed by ITC Rs 1.51 billion, Pentafour Software Rs 1.04 billion, Zee Telefilms Rs 870.7 million, Reliance Rs 744.8 million, SBI New Rs 636.6 million, Dr Reddy's Rs 553.7 million, HCL-HP Rs 520.5 million, BHEL Rs 366.6 million, Silverline Rs 324.4 million, MTNL Rs 279.2 million, NIIT Rs 161.8 million, Castrol Rs 154.3 million, BFL Software Rs 139.2 million, Tata Tea Rs 138.2 million, Digital Equipment Rs 129.2 million, Telco Rs 112 million, L&T Rs 110.5 million, ACC Rs 105 million, Rolta Rs 98.2 million, software Solutions Rs 82.7 million, Sterlite Rs 75 million, ICICI Rs 73 million and Leaded Systems Rs 60.5 million.

The top five S&P CNX Nifty gainers for the day were TVS Suzuki Rs 546.10 (Rs 511.75), Hindustan Petroleum Rs 318.50 (Rs 301.60), Hindalco Rs 514.40 (Rs 497.60), Thermax Rs 181.50 (Rs 176.05) and Indian Rayon Rs 132.30 (Rs 128.35) while the losers for the day were Andhra Valley Rs 75.05 (Rs 79.50), ICICI Rs 60.95 (Rs 62.35), IDBI Rs 53 (Rs 54), IPCL Rs 54.65 (Rs 55.55) and Reliance Petroleum Rs 17.60 (Rs 17.80).

The wholesale debt market of NSE witnessed trades worth Rs 3.23 billion. The 12 per cent loan maturing in 1999 was traded for Rs 300 million at a weighted yield of 10.60 per cent. The 11.55 per cent government loan maturing in 2001 was traded for Rs 600 million at a weighted yield of 11.52 per cent. Commercial paper of Berger Paints maturing on December 18, 1998 was traded for Rs 100 million at a yield of 11.25 per cent. Repo trades worth Rs 680 million were transacted at repo rates of 9.00-9.05 per cent for a repo term of 14 days.

UNI