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Peace prospect brings cheer to market; Nifty up 28 points to 1148.15

Equities rose on good buying support from institutional investors on hopes of early end to the Kargil conflict at the National Stock Exchange here today.

According to marketmen, US President Bill Clinton's call to Pakistani Prime Minister Nawaz Sharif asking the latter to vacate his country's troops from the Indian territory gave the marketmen the feeling that Pakistan may relent under increasing international pressure.

Optimism prevailed in the market, which led the pivotal prices to register significant gains.

The S&P CNX Nifty Index opened at 1120.35, witnessed the day's high of 1152.35 and low of 1109.70 and ended at 1148.15, showing a net gain of 27.65 points from the previous close of 1120.50.

The S&P CNX Junior rose by 9.15 points to 1887.15 from the previous close of 1878. The S&P CNX Defty ended higher by 25.55 points at 922.10. The S&P CNX-500 and Midcap-200 closed higher by 17 and 8.10 points at 778.10 and 662.15.

The total turnover on the NSE was Rs 21.19 billion from trading in 101.5 million shares in 302,765 trades. Debentures traded were valued at Rs 852.9 million.

Today, 608 securities advanced, 306 declined, 68 remained unchanged while 52 securities hit their price bands.

UNI

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