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Pivotals bounce back; Nifty gains 27 points to 993.90

Pivotals bounced back on renewed buying support from bull operators and financial institutions and posted smart gains at the National Stock Exchange today.

The S&P CNX Nifty opened lower at 961.30 points and further slid to the low of 955.75. Then, on news of the Budget bail-out, it shot up to cross the 1000-mark at 1000.60 points, before closing at 993.90 points, as against 966.95 points on Friday. In other words, the index gained 26.95 points.

The CNX Nifty Junior Index also jumped up by 29.45 points to 1782.30 points from 1752.85 points. The S&P CNX Defty moved up by 19.30 points to 803.50 points. The S&P CNX 500 appreciated by 17.04 points to 684.81 points while the CNX Midcap 200 improved by 11.95 points to 609.54 points from 597.59 points.

Total turnover in 235,564 trades involving 5.31 million shares stood at Rs 14.77 billion and the debentures traded were valued at Rs 2.18 million.

Today, about 573 securities gained, 315 lost, 60 remained unchanged while 100 securities hit their price bands today.

The top S&P CNX Nifty gainers were: Cipla which shot up by eight per cent to Rs 1549.75 from Rs 1435, M&M 7.84 per cent to Rs 220 (Rs 204), Ranbaxy 7.48 per cent to Rs 553.95 (Rs 515.40), ACC 7.13 per cent to Rs 1447.30 (Rs 1351) and Reliance 5.86 per cent to Rs 129.15 (Rs 122).

The losers were: ABB which eased by 4.16 per cent to Rs 322.90, Hindustan Petroleum by 3.96 per cent to Rs 159.05, Nestle by 2.50 per cent to Rs 513, NIIT 2.24 per cent to Rs 1,665 and Grasim 1.47 per cent to Rs 127.60.

Pentafour Software registered the highest turnover of Rs 2.57 billion, followed by Satyam Computers Rs 2.06 billion, ITC Rs 1.45 billion, Reliance Rs 982.8 million, Ranbaxy Rs 679.9 million, Silverline Rs 638 million, SBI Rs 512 million, Rolta Rs 458.2 million, Zee Telefilms Rs 401.8 million, HCL-HP Rs 313.6 million, ACC Rs 301.6 million and Glaxo Rs 286.2 million.

The other actively traded counters were: Digital Equipment Rs 255.4 million, Tata Tea Rs 212.8 million, Hindustan Lever Rs 209.3 million, L&T Rs 200.7 million, Infosys Technologies Rs 189.9 million, Software Solutions International Rs 189.9 million, MTNL Rs 154.2 million, Square D Software Rs 127.4 million, NIIT Rs 126.7 million, Global Telesystems Rs 108.7 million, Dr Reddy's Rs 104.6 million and Ranbaxy Rs 101.2 million.

UNI

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