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NSE slips further

Weak market sentiments pushed down pivotals further at the National Stock Exchange.

Reflecting the bearish phase, the NSE-50 (nifty) index opened at 1,057.65 points (the day's high), fell sharply to touch the low of 1,028.70 and ended at 1,033.55 points, netting a loss of 24.20 points over the previous close of 1,057.75.

The dollar-NSE-50 (defty) index lost by 23.50 to 901.05 points over the previous close of 924.55 points. The midcap index dropped by 28.60 points to 1,171.35 as against the previous close of 1,199.95 points.

The total turnover reported during the day was Rs 18.69 billion.

ITC registered the highest business volume of Rs 7.52 billion. It was followed by Tata Tea (Rs 3.01 billion), State Bank (Rs 2 billion), Reliance (Rs 1.22 billion), Castrol (Rs 791.9 million) and L&T (Rs 446.9 million).

Hectic activity was observed at certain other counters like ACC (Rs 373.5 million), Hind Lever (Rs 362.9 million), Tisco (Rs 291.6 million), BPL (Rs 238.4 million), Telco (Rs 238.3 million), MTNL (Rs 218.2 million), Corp Bank (Rs 179.2 million), ICICI (Rs 125 million), Glaxo (Rs 118.7 million), BHEL (Rs 95 million), Colgate (Rs 75.9 million), Bajaj Auto (Rs 66.2 million), Hero Honda (Rs 52.7 million), Rel Petro (Rs 50 million), Rel Cap (Rs 49.3 million), BSES (Rs 46.7 million), IPCL (Rs 41.4 million), LML (Rs 41.4 million) and Thermax (Rs 41.3 million).

Among the gainers, HPCL upped by 0.73 per cent to Rs 471.50 and Nestle by 0.30 per cent to Rs 279.55.

Among the losers, Thermax drifted lower by 9.63 per cent to Rs 181.20, Cochin Ref by 8.45 per cent to Rs 172.50, IPCL by 6.59 per cent to Rs 67.35, GE Shipping by 5.64 per cent to Rs 42.65 and ICICI by 5.49 per cent to Rs 79.20.

The wholesale debt market witnessed trades worth Rs 3.46 billion.

The 11.15 per cent government loan maturing in 2002 was traded for Rs 450 million at a weighted yield of 11.06 per cent, while the 12.59 per cent government loan maturing in 2004 was traded for Rs 150 million at a weighted yield of 11.16 per cent.

UNI