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Trading buoyant, pivotal record marginal upswing; Nifty up eight points, 864.40

Pivotals witnessed marginal improvement at the National Stock Exchange in a buoyant trading, in spite of heavy selling pressure from foreign institutional investors and Indian financial institutions today.

Mirroring the trend, the S&P's CNX Nifty opened at 858.60 points, touched the day's high of 865.80, low of 858.50, before closing at 864.40 points, showing a net gain of 7.85 points from the previous close of 856.55 points. CNX Nifty Junior ended slightly lower by 0.50 points to 1427.85 points from the previous close of 1428.35 points.

S&P's CNX Defty rose by 6.25 points to 703.30 from the previous close of 697.05 points.

S&P's CNX-500 increased by 2.80 points to 586.37 points as against the previous close of 583.57 while CNX Midcap 200 dropped by 0.59 points to 519.38 points from the previous close of 519.97 points.

Total turnover on the NSE reported during the day was Rs 10.77 billion which came from 46.54 million shares and 152,343 trades conducted today. Traded debentures' value stood at Rs 2.41 million.

Today, 386 scrips advanced, 530 declined, 131 remained unchanged while 20 securities hit their price bands. The exchange also witnessed net selling by the FIIs (Rs 70 million) and domestic FIs (Rs 140 million) of Rs 210 million.

Satyam Computers topped the list of turnover by registering highest turnover of Rs 1.28 billion, followed by Zee Telefilms Rs 1.28 billion, Pentafour Software Rs 1.11 billion and Reliance Rs 948.5 million.

Other actively traded scrips were Hindustan Lever (Rs 921.7 million), ITC (Rs 788.6 million), Telco (Rs 592.2 million), SBI (Rs 421.1 million), Castrol (Rs 296.2 million), Glaxo (Rs 284.9 million), Silverline (Rs 179.9 million), Tisco (Rs 161.1 million), Tata Tea (Rs 149.9 million), Square D Software (Rs 122.5 million), Sterlite (Rs 104.7 million), Ranbaxy (Rs 98.6 million), MTNL (Rs 99.5 million), Nestle (Rs 95.6 million), L&T (Rs 87.5 million), HCL-HP (Rs 79.7 million), ACC (Rs 76.9 million), Novartis (Rs 72 million), Infosys Technologies (Rs 70 million), Bajaj Auto (Rs 66 million), Smithkline (Rs 59 million).

The top gainers were Telco Rs 139.60 (Rs 133.25), Smithkline Rs 564.90 (Rs 541.40), Hindalco Rs 531.90 (Rs 510.50), Hindustan Lever Rs 1,742 (Rs 1,687) and HDFC Rs 2,330 (Rs 2,279). The top five losers were Bajaj Auto Rs 529.95 (Rs 541.05), Ranbaxy Rs 263.60 (Rs 269.10), Tata Power Rs 99.80 (Rs 101.35), HDFC Bank Rs 51.65 (Rs 52.25) and IPCL Rs 51.85 (Rs 52.45).

The wholesale debt market of the NSE witnessed trades worth Rs 5.97 billion. The 11.55 per cent government loan maturing in 2001 was traded for Rs 2.25 billion at a weighted yield of 11.47 per cent. The 11.40 per cent government loan maturing in 2000 was traded for Rs 850 million at a weighted yield of 11.33 per cent. The commercial paper of Tata Chemicals Limited maturing on April 4, 1999 was traded for Rs 50 million at a weighted yield of 10.87 per cent.

UNI

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