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Sentiment remains low; pivotals, Nifty decline; 847.55

Pivotals declined further, as low sentiment prevailed at the National Stock Exchange.

S&P CNX Nifty opened at 856.40, registered an opening level high at 856.40, low 844.85 and closed at 847.55 from the previous levels of 857.40, showing a net loss of 9.85 points.

The CNX Nifty Junior closed at 1424.35, losing 14.35 points, S&P CNX Defty ended at 692.30, shedding 8.50 points, S&P CNX 500 ended at 580.12, losing 7.51 points and CNX Midcap 200 ended at 517.61, declining by 7.46 points.

About 241 scrips advanced, 734 declined and 82 were unchanged. And 21 securities hit their price bands.

The total turnover on the NSE reported during the day was Rs 10.25 billion, which came from trading in 44.27 million shares in 151,806 trades. Debentures traded value was Rs 5.27 million.

Satyam Computers registered the highest turnover of Rs 2.41 billion, followed by ITC Rs 1.20 billion, Pentafour Software Rs 806.5 million, Reliance Rs 798.2 million and SBI New Rs 633.3 million.

Other actively traded counters were Castrol (Rs 563.4 million), Zee Telefilms (Rs 379.4 million), HCL-HP (Rs 299.8 million), Telco (Rs 297.7 million), Software Solutions Integrated (Rs 280.6 million), Tisco (Rs 204.2 million), ACC (Rs 152.5 million), MTNL (Rs 152.1 million), Silverline (Rs 127.4 million), Mastek (Rs 126.8 million), Ranbaxy (Rs 123.1 million), Tata Tea (Rs 115.5 million), L&T (Rs 99.5 million), Square D Software (Rs 92.6 million), Glaxo (Rs 79 million), Infosys Technology (Rs 74.7 million), Dr Reddy's (Rs 74.6 million), Hindustan Lever (Rs 67.1 million), BHEL (Rs 52.3 million) and Digital Equipment (Rs 50.8 million).

The top gainers were Glaxo, Hindustan Lever, ABB and HPCL. Prominent among those that shed value were Ranbaxy, Telco, Great Eastern Shipping, Tata Chemical and Grasim.

The wholesale debt market of NSE witnessed trades worth Rs.5.19 billion.The 11.40 per cent government loan maturing in 2000 was traded actively for Rs 1.65 billion at weighted yield of 11.32 per cent. The 11.50 per cent government loan maturing in 2004 was traded for Rs 250 million at a weighted yield of 11.98 per cent. Zero coupon debentures of Reliance Capital Limited maturing in 2002 were traded for Rs 340 million at a weighted yield of 15.90 per cent. Commercial paper of Grasim Limited was traded for Rs 350 million at a weighted yield of 10.55 per cent.

UNI

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