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Pivotals firm up further; Nifty up ten points, 969.05

Pivotals further firmed up on good buying support from bull operators and financial institutions on the National Stock Exchange which recorded the highest number of trades today.

Reflecting the upbeat sentiment, the S&P CNX Nifty index rose by 10.15 pints to 969.05 points from 958.90 points of the previous day. The CNX Nifty Junior shot up 49.35 points to 1782.35 points while the S&P CNX Defty improved by 8.85 points to 790.80 points. The S&P CNX 500 index gained 11.16 points to 681.42 points and CNX Midcap 200 index moved up by 16.50 points to 619.70 points.

The total number of trades was 384,222 which was the highest since inception. Total turnover involving 126.31 million shares was Rs 28.61 billion while the turnover in debentures was Rs 4.48 million. Today, 785 securities gained, 283 lost, 78 remained unchanged while 175 securities have hit their price bands today.

The top S&P CNX Nifty gainers were: IPCL which shot by 8.02 per cent to Rs 101.05, M&M 8.01 per cent to Rs 249.50, BSES 6.16 per cent to Rs 156, HPCL 6.03 per cent to Rs 189.80 and HDFC Bank 4.79 per cent to Rs 53.60.

The top losers were: ABB which declined 4.70 per cent to Rs 547, Asian Paints 2.21 per cent to Rs 252, Bajaj Auto 1.85 per cent to Rs 506.65, Arvind Mills 1.41 per cent to Rs 38.50 and Cochin Refineries 1.37 per cent to Rs 132.85.

Pentafour Software recorded the highest turnover of Rs 5.04 billion, followed by Satyam Computers Rs 3.75 billion, ITC Rs 2.08 billion, Silverline Rs 1.56 billion, Rolta Rs 1.51 billion, Tata Tea Rs 1.27 billion, Zee Telefilms Rs 963.8 million, Telco Rs 963.4 million, Reliance Rs 826.3 million, Square D Software Rs 818.1 million, HCL-HP Rs 775.4 million, Tisco Rs 691.6 million and SBI New Rs 474.4 million.

The other actively traded counters were: Global Telesystems Rs 420.1 million, Hindustan Lever Rs 405.1 million, L&T Rs 338.9 million, MTNL Rs 332.5 million, Ranbaxy Rs 319.3 million, Castrol Rs 314 million, IPCL Rs 294.4 million, Infosys Technologies Rs 263.6 million, ACC Rs 246.2 million, SRG Infotec Rs 215.5 million, Wockhardt Rs 191 milion and Dr Reddy's Rs 188.7 million.

The wholesale debt market of the NSE witnessed trades worth Rs 1.96 billion. The zero coupon bond (Series III) maturing in 2000 was traded for Rs 200 million at a weighed yield of 11.10 per cent. The 13.25 per cent converted government stock maturing in 2000 was traded for Rs 150 million at a weighted yield of 10.81 per cent. The 13.25 per cent non-convertible debentures of Reliance Industries Limited maturing in 1999 were traded for Rs 250 million at a yield of 11.84 per cent. The total turnover in debentures was Rs 273.02 million.

UNI

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