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Subdued trading pushes Nifty down 15 points to 1063.45

Pivotals, after some initial rally, declined marginally towards the end of session on selling pressure from bull operators as well as domestic institutions at the National Stock Exchange today.

Mirroring the subdued trend, the S&P CNX Nifty opened higher at 1082.55 points from 1078.05 points of the previous day finished at 1063.45 points, losing 14.60 points.

CNX Nifty Junior also drifted lower by 2.70 points to 2071.90 points while the S&P CNX Defty eased by 11.95 points to 868.40 points.

The S&P CNX 500 index moved down by 5.61 points to 752.64 points and the CNX Midcap 200 ended 2.82 points lower at 697.38 points.

Total turnover, involving 65.32 million shares in 275,097 trades, stood at Rs 23.89 billion and the debentures traded value was Rs 2.54 million.

About 491 securities gained, 543 declined and 81 remained unchanged while 92 securities have hit their price bands today.

The top five S&P CNX Nifty gainers were: Indian Rayon Rs 89.95 (83.30), Reliance Capital Rs 33.50 (32.45), Hindalco Rs 477 (463), Asian Paints 252.30 (245) and Great Eastern Shipping Rs 23.10 (22.50).

The top losers were: ICICI Rs 45.50 (49.25), ABB Rs 439.50 (468), Grasim Rs 150.10 (156.60), Ranbaxy Rs 642.25 (668.50) and Cochin Refineries Rs 125 (129.75).

Pentafour Software registered the highest turnover of Rs 6.58 billion, followed by Satyam Computers Rs 3.65 billion, Silverline Rs 1.07 billion, ITC Rs 1.07 billion, Rolta Rs 969.2 million, ACC Rs 919.1 million, SBI New Rs 754.4 million, HCL-HP Rs 741.5 million, L&T Rs 668.8 million, Reliance 625.4 million, Digital Equipment Rs 501.9 million, BPL Rs 392.2 million and Infosys Technologies Rs 372.5 million.

The other actively traded counters were: Tata Tea Rs 362.4 million, Ranbaxy Rs 327.6 million, Global Telesystems Rs 230 million, Castrol Rs 220.9 million, Zee Telefilms Rs 213 million, NIIT Rs 202.6 million and Hindustan Lever Rs 185.8 million.

The wholesale debt market of the NSE wintessed trades worth Rs 4.15 billion. The 11.98 per cent government loan maturing in 2004 was traded for Rs 1.25 billion at a weighted yield of 11.56 per cent. The 11.64 per cent government loan maturing in 2000 was traded for Rs 450 million at a weighted yield of 10.78 per cent. The 11.55 per cent government loan maturing in 2001 was traded for Rs 450 million at a weighted yield of 11.05 per cent. The total turnover in debenture was Rs 2.18 million.

UNI

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