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Pivotals recover but only just, Nifty up 21 points to 952.40

Pivotals recovered moderately on good buying support from bull operators and institutional investors on the opening day of the new settlement period, on the National Stock Exchange today.

Reflecting the upbeat sentiment, the S&P CNX Nifty Index rose by 21.20 points to 952.40 points. The CNX Nifty Junior moved up by 42.65 points to 1674.15 points while the S&P CNX Defty appreciated by 17.90 points to 777.15 points. The S&P CNX 500 increased by 16.62 points to 662 points and the CNX Midcap 200 index went up by 14.84 points to 584.38 points.

The total turnover, involving 73.63 million shares in 249,865 trades, was Rs 21.36 billion. The debentures traded were worth Rs 2.68 million. Today, 720 securities gained, 302 declined while 76 remained unchanged while 101 securites hit their price bands today.

The top S&P CNX Nifty gainers were: Tata Tea which shot up by 6.40 per cent to Rs 379.70, India Hotels 5.80 per cent to Rs 391.45, ICICI 5.38 per cent to Rs 49, Infosys Technologies 5.18 per cent to Rs 4649 and Bajaj Auto 4.90 per cent to Rs 515.05.

The top losers were: ABB which declined by 3.77 per cent to Rs 502.25, Indian Rayon 2.88 per cent to Rs 86, BSES 2.01 per cent to Rs 146, East India Hotels 1.70 per cent to Rs 255 and P&G 1.64 per cent to Rs 895.05.

Pentafour Software registered the highest turnover of Rs 5.12 billion, followed by Satyam Computers Rs 2.88 billion, ITC Rs 2.32 billion, Tata Tea Rs 1.04 billion, HCL-HP Rs 770.9 million, Telco Rs 667.8 million, Reliance Rs 605.7 million, Zee Telefilms Rs 535.7 million, Castrol Rs 521.1 million and Square D Software Rs 417.1 million.

The other actively traded securities were: Rolta Rs 411.6 million, Digital Equipment Rs 403.8 million, Silverline Rs 389.2 million, Tisco Rs 368.9 million, SBI New Rs 367.3 million, Hindustan Lever Rs 261.5 million, MTNL Rs 232.3 million, L&T Rs 213.3 million, NIIT Rs 208.3 million, Infosys Technologies Rs 176.5 million, ACC Rs 174.5 million, Dr Reddy's Rs 161 million, Glaxo Rs 156.2 million, Global Telesystems Rs 145.1 million and Dabur Rs 144.8 million.

The wholesale debt market of the NSE witnessd trades worth Rs 3.11 billion. The 11.40 per cent government loan maturing in 2000 was traded for Rs 500 million at a weighted yield of 11.23 per cent. The 12.5 0 per cent government loan maturing in 2004 was traded for Rs 250 million at a weighted yield of 11.89 per cent. The 11.64 per cent government loan maturing in 2000 was traded for Rs 200 million at a weighted yield of 11.17 per cent. Commercial paper of Indian Petrochemicals Limited maturing on March 30, 1999 were traded for Rs 100 million at a weighted yield of 10.33 per cent. Turnover in debentures was Rs 2.43 million.

UNI

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