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Cochin Refineries, IDBI, GE Shipping, Reliance Petro gain, but Nifty loses 13 points, down to 941.20

Equities declined further today at the National Stock Exchange on speculative selling pressure coupled with lack of buying support from institutional investors.

Mirroring the weak trend, the S&P CNX Nifty index opened at 955.40 points, touched the day's high of 955.75, dropped to a low of 938.20, and closed at 941.20 points, a net loss of 13.10 points. Yesterday's close was 954.30 points.

The CNX Nifty Junior also closed 13.15 points lower at 1679.55, against the previous close of 1692.70 points.

The S&P CNX Defty ended 10.65 points lower at 766.35, as against the previous close of 777 points.

The S&P CNX-500 and CNX Midcap-200 eased by 8.20 and 6.06 points to 660.70 and 593.52 points as against the previous close of 668.90 and 599.58 points, respectively.

The total turnover on the NSE today was Rs18,473.5 million from 254,100 trades in 79.21 million shares. The value of debentures traded was Rs3.209 million.

The exchange witnessed 462 securities advance, 601 decline and 119 remain unchanged.

Forty securities hit their price bands today.

Pentafour Software topped the turnover list with Rs2,944.4 million, followed by Satyam Computers (Rs2411.6 million), ITC (Rs1745.5 million), Zee Telefilms (Rs1236.7 million) and Reliance (Rs1208.7 million).

Other actively traded counters were Silver Line (Rs934.1 million), State Bank of India (Rs605.6 million), Digital Equipment (Rs576.5 million), Tata Tea (Rs524.8 million), HCL-HP (Rs464.9 million), Indian Petrochemicals Corporation Limited (Rs456.9 million), Rolta (Rs325.2 million), TELCO (Rs308.5 million), TISCO (Rs242.2 million), ACC (Rs211.6 million), NIIT (Rs203.2 million), Castrol (Rs192.3 million), L&T (Rs190.6 million), Glaxo (Rs175.3 million), SquareD Software (Rs169.6 million), MTNL (Rs169.5 million), and Hindustan Lever (Rs127.5 million).

The gainers were Cochin Refineries at Rs138.50 (previous: Rs134), IDBI at Rs31.85 (Rs31), Great Eastern Shipping Rs22 (Rs21.55), Reliance Petrochemicals Rs19.30 (Rs19) and Orient Bank Rs30.60 (Rs30.15).

The losers were Glaxo at Rs686.90 (previous: Rs722.50), Indian Rayon at Rs80.25 (Rs84), Grasim at Rs152 (Rs159.10), Arvind Mills at Rs38.65 (Rs40.15) and Reliance Capital at Rs34.25 (Rs35.50).

The NSE's wholesale debt market witnessed trades worth Rs561 million. The 11.75 per cent converted government stock maturing in 2001 was traded for Rs150 million at a weighted yield of 11.45 per cent. The 364-day treasury bill maturing on February 25, 2000, was traded for Rs150 million at a yield of 10.60 per cent.

UNI

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