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Nifty stumbles further

Speculative prices declined further on opening day of settlement in the National Stock Exchange today following continuous selling pressure from financial institutions and absences of buyers.

The NSE-50 Index fluctuated between 983.20 and 965.85 points before closing at 971.90 points, suffering a loss of 12.15 points as against its previous close of 984.05 points. The dollar NSE-50 (Defty) Index finished at 863.40 points over Tuesday's close of 874.80 points declined by 11.40 points.

The Midcap Index closed at 1110.60 points as compared to yesterday's close of 1124.20 points, decreasing by 13.60 points.

The total turnover on the exchange was Rs 12.4 billion involving 46 million shares.

ITC registered the highest turnover of Rs 5.8 billion followed by Tata Tea Rs 1.5 billion, SBI-N Rs 1.5 billion, Reliance Industries Rs 1.2 billion, TELCO Rs 293.3 million, Castrol Rs 286.6 million, ACC Rs 239.5 million, TISCO Rs 207.7 million, Corporation Bank Rs 127.9 million, Hind Lever Rs 126.7 million, MTNL Rs 122.4 million, Colgate Rs 100.6 million, Bajaj Auto Rs 94.9 million, Satyam Comp Rs 73.7 million, Marico Rs 53.8 million, P&G Rs 50.2 million, Infosys Tech Rs 44.6 million, L&T Rs 38.8 million, BHEL Rs 34.8 million, Hero Honda Rs 27.8 million, BSES Rs 24.3 million, LML Rs 20.1 million, Ponds Rs 16.9 million, Ranbaxy Rs 16.8 million and SAIL Rs 14.8 million.

Top gainers were ICICI rose by Rs 1.3 to Rs 66.40, Guj Amb cement by Rs 4.75 to Rs 265.90, M&M by Rs 4.95 to Rs 324.00, MRPL by Rs 0.25 to Rs 19.05 and Tata Tea by Rs 3.9 to Rs 366.90, while the losers were TELCO by Rs 15.5 to Rs 257.15, ABB by Rs 19.55 to Rs 451.60, Bajaj Auto by Rs 17.65 to Rs 557.45, Ponds by Rs 27.4 to Rs 910.25 and ITC by Rs 15.6 to Rs 546.30.

UNI