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Volatile trading session fizzles out during fag end; Nifty 934.95

Pivotals maintained high volumes in a volatile trading session on the last day of trading at the National Stock Exchange today.

The market opened steady and the prices touched a high note during the intra-day trading session but lost ground during the fag end due to sudden selling by the domestic investors who liquidated their positions at the end of the trading fortnight today.

The S&P CNX Nifty opened slightly higher at 935.30 points from its previous close of 934.80 points. It touched a day's high of 945.25 points and a low of 933 points before closing at 934.95 points recording a gain of 0.15 points during the day.

The CNX Nifty Junior shot up considerably and gained a comparatively huge 7.65 points on closing at 1546.45 points as compared to its previous close of 1538.80 points. It had opened moderately higher at 1538.95 points and recorded a high of 1555.80 points and a low of 1533.25 points.

The S&P Defty and 500 also gained 0.40 and 0.55 points respectively on closing at 762.30 and 636.04 points as compared to yesterday's close of 761.90 and 635.49 points. The CNX Midcap 200 on the other hand gained moderately by 2.73 points to close at 555.11 points over its previous close of 552.38 points.

The total traded value was Rs 19.74 billion from 702.73 shares in 240,682 trades. The debentures traded value was Rs 8.25 million. There were 482 security advances, 482 declines while 111 unchanged. 54 securities hit their price bands today.

The ITC registered highest turnover Rs 3.40 billion, followed by Satyam Computer Rs 3.14 billion, Pentafour Software Rs 2.51 billion, SBI New Rs 1.40 billion and Zee Telefilm Rs 1.27 billion.

Other actively traded securities were Reliance (Rs 1.12 billion), Dr Reddy's (Rs 599.9 million), MTNL (Rs 491.8 million), L&T (Rs 417.6 million), BHEL (Rs 364.5 million), Digital Equipment (Rs 339 million), ACC (Rs 318.4 million), Tata Tea (Rs 309.6 million), Castrol (Rs 274 million), HCL-HP (Rs 203.8 million), Infosys Tech (Rs 201.3 million), Glaxo (Rs 199.6 million), BFL Software (Rs 196.1 million), NIIT (Rs 173.2 million), Silverline (Rs 167.2 million), Telco (Rs 143.4 million), Hindustan Lever (Rs 142.3 million), Bajaj Auto (Rs 125.4 million), Rolta (Rs 112.2 million) and Tisco (Rs 102.9 million).

The five top S&P CNX Nifty gainers for the day were Glaxo Rs 475.45 (Rs 441.65), Gujarat Ambuja Cement Rs 210.60 (Rs 204.05), IPCL Rs 57.60 (Rs 55.95), Ranbaxy Rs 567.70 (Rs 552.85) and L&T Rs 195.20 (Rs 190.25) while the losers for the day were HDFC Rs 2406.75 (Rs 2482.50), Great Eastern Shipping Rs 23.75 (Rs 24.35), Grasim Rs 160.70 (Rs 164.60), Arvind Mills Rs 36.25 (Rs 37.05) and Telco Rs 149.50 (Rs 152.50).

The FIIs bought shares worth Rs 377.99 million and sold shares worth Rs 300.44 million. Financial institutiuons and mutual funds bought shares worth Rs 153. 43 million and sold shares worth Rs 194.58 million.

The wholesale debt market of NSE witnessed trades worth Rs 3.62 billion. The 11.55 per cent government loan maturing in 2001 was traded for Rs 350 million at a weighted yield of 11.55 per cent. The 14.80 per cent non-SLR bond of IDBI maturing in 2003 was traded for Rs 100 million at an yield of 13.73 per cent. Certificate of deposit of Deutsche Bank maturing on November 11, 1998 was traded for Rs 200 million at a weighted yield of 10.40 per cent. Repo trades worth Rs 1.45 billion were transacted at rates varying from 9.00 per cent to 9.30 per cent for repo terms of seven to 14 days.

UNI