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Bulls retreat, FIIs cool off; Nifty down 14 points to 1041.25

Pivotals incurred moderate losses on selling pressure from bull operators and lack of buying support from foreign institutional investors on the National Stock Exchange today.

Mirroring the subdued sentiment, the S&P CNX Nifty declined by 13.65 points to 1041.25 points from 1054.90 points of the previous day. The CNX Nifty Junior slid by 31.85 points to 1964.25 points and the S&P CNX Defty eased by 11.10 points to 850.90 points.

The S&P CNX 500 index ended 13.56 points lower at 732.71 points and CNX Midcap 200 index lost 15.24 points to 667.94 points.

Total turnover, involving 64.67 million shares, in 259,377 trades, was Rs 20.51 billion and the debentures traded were valued at Rs 4.52 million.

About 877 securities declined, 235 advanced and 63 remained unchanged. And 121 securities hit their price bands today.

The top losers were Smithkline Beecham which dropped by 6.91 per cent to Rs 660, IPCL by 6.69 per cent to Rs 105.30, IFCI by 5.45 per cent to Rs 10.40, M&M by 5.02 per cent to Rs 226.05 and Cipla by 4.63 per cent to Rs 1,435.

The top gainers were Tata Tea which appreciated by 5.56 per cent to Rs 473, TVS Suzuki 2.94 per cent to Rs 490, HDFC Bank by 2.18 per cent to Rs 63.40, East India Hotel by 1.93 per cent to Rs 206 and Asian Paints by 1.38 per cent to Rs 260.

Pentafour Software registered the highest turnover of Rs 3.51 billion, followed by Satyam Computers Rs 3.32 billion, ITC Rs 1.66 billion, Silverline Rs 1.50 billion, Tata Tea Rs 1.09 billion, Rolta Rs 951.4 billion, SBI Rs 657.8 billion, HCL-HP Rs 562 million and Reliance Rs 510.7 million.

The other actively traded counters were: Zee Telefilms Rs 469.4 million, Square D Software Rs 459.4 million, Infosys Technologies Rs 430.1 million, Ranbaxy Rs 268.6 million, BPL Rs 257.4 million, L&T Rs 227.9 million, MTNL Rs 227.5 million, ACC Rs 211 million and Telco Rs 206 million.

The wholesale debt market of the NSE witnessed trades worth Rs 6.74 billion. The 11.55 per cent government loan maturing in 2001 was traded for Rs 650 million at a weighted yield of 11.07 per cent.

The 12.5 per cent government loan maturing in 2004 was traded for Rs 650 million at a weighted yield of 11.54 per cent. The 11.98 per cent government stock maturing in 2004 was traded for Rs 500 million at a weighted yield of 11.57 per cent. Repos were actively transacted for Rs 640 million at a repo rates ranging 9.5-10 per cent for repo terms of 14 days each. The total turnover in debentures was Rs 190.9 million today.

UNI

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