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Nifty falls for second day, loses 22.6 points

Pivotals suffered further setback on the National Stock Exchange today following heavy selling pressure from foreign institutional investors .

Reflecting the bearish phase, the NSE-50 Index opened at 1044.55 points, touched the day's high of 1044.55 points, declined to the day's low of 1013.10 points and later ended at 1022.40 points, showing a net loss of 22.60 points over the previous close of 1045.00 points.

Similarly, the Midcap Index drifted lower by 23.05 points to 1183.85 points as against the previous close of 1206.90 points.

The total turnover reported during the day was at Rs 16.1 billion.

ITC topped the list of turnover by registering highest turnover at Rs 6.9 billion, followed by SBI Rs 2 billion, Reliance Rs 1.8 billion Tata Tea Rs 984.7 million and ACC Rs 582.9 million.

OBC, ICICI, BSES, Cochin Refinery and Essar Steel were the major losers during the day while Ranbaxy, EIH and ACC reported moderate gains.

Hectic activity was observed at the other counters like TELCO Rs 444.8 million, Castrol Rs 430.8 million, MTNL Rs 280.1 million, Hind Lever Rs 280.1 million, TISCO Rs 253.3 million, L&T Rs 227.9 million, BHEL Rs 209.3 million, BSES Rs 123.5 million, LML Rs 82.2 million, Hero Honda Rs 74.4 million, ICICI Rs 73 million, Satyam Comp Rs 63.4 million, Bajaj Auto Rs 57.2 million, Guj Amb Cem Rs 53.5 million, ICICI Bank Rs 51.4 million, Colgate Rs 46.9 million, Bank of Baroda Rs 46.7 million, Rel Petro Rs 46.4 million, Soft Sol Rs 45.1 million and Ponds Rs 40.8 million.

Among the gainers Ranbaxy gained by 1.2 per cent to Rs 723.60, EIH up by Rs 0.57 per cent to Rs 395.45, ACC increased by Rs 0.26 per cent to Rs 1176.20.

Among the losers OBC dropped by 7.00 per cent to Rs 51.85, ICICI declined by 6.53 per cent to Rs 73.75, BSES fell by 5.80 per cent to Rs 157.50, Cochin Ref lost by Rs 5.04 per cent to Rs 151.75 and Essar Steel declined by 5.03 per cent to Rs 17.95.

UNI