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Pivotals take a moderate dip; Nifty down 15 points to 954.55

Pivotals declined moderately on selling pressure by bear operators and off-loading by financial institutions at the National Stock Exchange today.

Mirroring the subdued sentiment, the S&P CNX Nifty opened higher at 974.10 points, and ended at 954.55 points, against 970.25 points of the previous day, losing 15.70 points.

The CNX Nifty Junior Index slid by 25.75 points to 1712 points from 1737.75 points. The S&P CNX Defty declined by 12.80 points to 779.15 points while the S&P CNX 500 moved down by 9.55 points to 664.56 points. The CNX Midcap 200 index also eased by 4.64 points to 594.48 points.

The total turnover, involving 95.74 million shares in 317,358 trades, was Rs 23.95 billion. The debenture traded value was Rs 5.20 million. Today, 429 securities gained, 632 lost, 88 remained unchanged while 84 securities hit their price bands.

The top S&P CNX Nifty gainers were: M&M which shot up by 8.01 per cent to Rs 213.85, Ranbaxy 3.49 per cent to Rs 384.50, ABB by 2.87 per cent to Rs 538, MTNL 2.47 per cent to Rs 170 and Tisco 2.01 per cent to Rs 119.55.

The top losers were TVS Suzuki which eased by 6.34 per cent to Rs 480, HPCL 6.30 per cent to Rs 180, Smitkline Beecham 5.75 per cent to Rs 680, Grasim 4.94 per cent to Rs 154.75 and IFCI 4.40 per cent to Rs 13.05.

Pentafour Software registered the highest turnover of Rs 3.33 billion, followed by Satyam Computer Rs 3.18 billion, ITC Rs 2.32 billion, Tata Tea Rs 1.61 billion, Silverline Rs 1.55 billion, HCL-HP Rs 859 million, Digital Equipment Rs 855.2 million, Rolta Rs 833.2 million, Telco Rs 812 million, Hindustan Lever Rs 575.7 million, Tisco Rs 566.3 million, Zee Telefilms Rs 531.1 million and Castrol Rs 529.5 million.

The other actively traded counters were: MTNL Rs 500.1 million, Square D Software Rs 382.3 million, Reliance Rs 357.6 million, SBI Rs 342.7 million, L&T Rs 275.7 million, Glaxo Rs 270.8 million, ACC Rs 262.2 million and Ranbaxy Rs 243.7 million.

The wholesale debt market of the NSE witnessed trades worth Rs 2.92 billion. The 11.68 per cent government loan maturing in 2002 was traded for Rs 550 million at a weighted yield of 11.62 per cent. The 12.5 per cent converted government stock maturing in 2004 was traded for Rs 450 million at a weighted yield of 11.90 per cent. The 12.25 per cen t government loan maturing in 2008 was traded for Rs 250 million at a yield of 12.23 per cent. The turnover in debentures was Rs 58.14 million.

UNI

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