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Pivotals finish higher; Nifty up three points to 976.30

Pivotals opened on a positive note and moved in a narrow range throughout the day to finish higher as compared to the previous levels at the National Stock Exchange today.

The S&P CNX Nifty Index rose by 2.85 points to 976.30 from the previous level of 973.45. The CNX Nifty Junior on the other hand decreased by 12.65 points to 1768.70 from the previous close of 1786.75 points.

The S&P CNX Defty improved by 2.7 points to 796.80. The S&P CNX 500 index gained by a marginal 0.19 points to 683.20 and CNX Midcap 200 index moved down by 2.96 points to 617.93.

The total turnover on the NSE was Rs 18.99 billion, with the traded quantity being 90.04 million and number of trades being 278,252. A total of 121 securities hit their price bands today, 480 shares advanced, 580 declined and 93 were unchanged.

The top gainers were IPCL, Indian Rayon, Reliance, Reliance Capital and Hero Honda while prominent among those that shed value were Tata Tea, HPCL, ABB, NIIT and Ranbaxy.

Pentafour Software topped the turnover list with Rs 2.84 billion followed by Reliance (Rs 2.27 billion), Satyam Computers (Rs 2.24 billion) and ITC (Rs 1.14 billion). Others that recorded a high turnover were SBI, Silverline, Tata Tea, Telco, Rolta, HCL-HP, Tisco and Zee Telefilms. The debentures traded value was Rs 2.48 million.

The wholesale debt market of NSE witnessed trades worth Rs 1.92 billion. The 11.55 per cent government stock maturing in 2000 was traded for Rs 350 million at a weighted yield of 11.44 per cent.

The 11.50 per cent Tamil Nadu state development loan maturing in 2009 was traded for Rs 200 million at a yield of 12.51 per cent. The commercial paper of Siemens Limited maturing on April 23, 2000 was traded for Rs 100 million at a yield of 10.50 per cent.

UNI

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