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Equities recover on FII support; Nifty up five points, 835.20

Equities staged a moderate recovery at the National Stock Exchange on good buying support from foreign institutional investors today.

Mirroring the trend, the S&P CNX Nifty Index opened at 830.30 points, touched the day's high of 838.80 points, low of 827.30 points before closing at 835.20 points, showing a net gain of 4.95 points from the previous close of 830.25 points.

CNX Nifty Junior advanced by 15.55 points to 1413.40 points as against the previous close of 1397.85 points. S&P CNX Defty closed higher by 4.05 points to 680.25 points from the previous close of 676.20 points.

The S&P CNX-500 and Midcap-200 rose by 3.54 and 5.19 points to 569.23 and 512.27 points as against the previous close of 565.69 and 507.08 points respectively.

About 513 securities advanced, 414 declined while 130 remain Unchanged while 23 securities hit their price bands today.

Total turnover on the NSE reported during the day was Rs 17.61 billion was came from trading of 59.53 million shares in 207,115 trades.

Satyam Computers registered highest turnover of Rs 5.34 billion, followed by ITC Rs 2.31 billion, Pentafour Software Rs 1.92 billion, Zee Telefilms Rs 1.70 billion and Telco Rs 832.3 million.

Other actively traded counters were Reliance (Rs 518.9 million), SBI (Rs 411.9 million), HCL-HP (Rs 353.8 million), Castrol (Rs 330.1 million), Tisco (Rs 252.1 million), Tata Tea (Rs 234.4 million), Silverline (Rs 207.6 million), MTNL (Rs 197.6 million), Hindustan Lever (Rs 169.9 million), Square D Software (Rs 123 million), ACC (Rs 114 million), Glaxo India (Rs 113.5 million), L&T (Rs 90.7 million), Ranbaxy (Rs 84.8 million), Raymond (Rs 81.8 million), LML (Rs 79.9 million), HPCL (Rs 69.2 million), Dr Reddy's (Rs 68.4 million) and NIIT (Rs 66.6 million).

The FIIs' net investment stood at Rs 237.5 million on the NSE today while the Indian financial institutional investors were net sellers at Rs 122.7 million.

The wholesale debt market of the NSE witnessed trades worth Rs 3.60 billion. The 12 per cent converted government stock maturing in 1999 was traded for Rs 510 million at a weighted yield of 10.27 per cent. The 11.68 per cent government loan maturing in 2002 was traded for Rs 200 million at a weighted yield of 11.63 per cent.

Three repo trades worth Rs 1.2 million were transacted at repo rates ranging between 8.90 per cent-9.00 per cent for repo terms of 11-14 days.

UNI

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