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Market firm on FII support; Nifty up 27 points, 934.80

Pivotals firmed up further at the National Stock Exchange on good buying support from foreign institutional investors, pushing up the S&P CNX Nifty by 27.05 points today.

The main index opened slightly higher at 908.20, and touched the day's high of 936.50, and the day's low of opening level 908.20, before closing at 934.80 points, thus showing an increase of 27.05 points against the previous close of 907.75 points.

The CNX Nifty Junior also moved up by 23.80 points to 1538.80 as compared with the last close of 1515.00.

The S&P CNX Defty went up by 22.50 points from 739.40 to 761.90, S&P CNX 500 increased by 13.21 to 635.49 from its previous close of 622.28 and CNX Midcap 200 shot up by 5.83 points from 552.38 to 546.55 points.

The total traded value was Rs 18.27 billion from 64.96 million shares in 212,414 trades. The debentures traded value was Rs 3.45 million. Nearly 625 securities advanced, 363 declined while 111 remained unchanged. And 62 securities hit their price bands.

The ITC registered highest turnover Rs 5.30 billion, followed by Satyam Computers Rs 2.53 billion, Pentafour Software Rs 1.37 billion, SBI New Rs 1.31 billion and Reliance Rs 982.8 million.

Other actively traded securities were Zee Telefilms (Rs 862.7 million), MTNL (Rs 476.7 million), BHEL (Rs 350.7 million), Hindustan Lever (Rs 318.3 million), Dr Reddy's (Rs 307.4 million), Tata Tea (Rs 280.5 million), Castrol (Rs 272.2 million), Telco (Rs 246.2 million), HCL-HP (Rs 244 million), Silverline (Rs 220.3 million), ACC (Rs 183.1 million), L&T (Rs 172 million), Square D Software (Rs 164 million), Sundaram Finance (Rs 157 million), Bajaj Auto (Rs 156.5 million), Rolta (Rs 116.2 million), NIIT (Rs 112.9 million), Softsolint (Rs 104.7 million), Tisco (Rs 90.9 million) and Infosys Tech (Rs 89.2 million).

The five top S&P CNX Nifty gainers for the day were BHEL Rs 291.20 (Rs 271.20), M&M Rs 182.65 (Rs 172.20), ITC Rs 707.90 (Rs 661.45), East India Hotels Rs 226.05 (Rs 212.85) and Bajaj Auto Rs 687.65 (Rs 650.55) while the losers for the day Cochin Refinery Rs 175 (Rs 178.75, HDFC Bank Rs 69.10 (Rs 69.85), Arvind Mill Rs 37.05 (Rs 37.40), HDFC Rs 2482.50 (Rs 2499.50) and IFCI Rs 21.90 (Rs 22).

The FIIs bought Rs 589.87 million value shares and sold shares of Rs 430.68 million. Financial institutions/mutual funds bought Rs 51.88 million worth of shares and sold shares worth Rs 274.64 million.

The wholesale debt market of NSE witnessed trades worth Rs 1.62 billion. The 11.55 per cent government loan maturing in 2001 was traded for Rs 300 million at a weighted yield of 11.55 per cent. The 15.25 per cent non-SLR bond of IFCI maturing in 2005 was traded for Rs 100 million at an yield of 14.37 per cent. A repo trade worth Rs 250 million was transacted at 9.15 per cent for a repo term of 14 days.

UNI