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Equities decline on profit-booking; Nifty down 24 points to 1453.35

Equities suffered a major setback at the National Stock Exchange on profit-taking selling pressure from local operators as well as foreign funds today.

According to market circles, unwinding of long-term positions by local operators and a few institutions brought down the indices sharply today.

Reflecting the downtrend, the S&P CNX Nifty index opened at 1478.00 points, touched a day's high of 1496.45 points, a low of 1448.35 points, before closing at 1453.35 points, showing a net loss of 24.30 points from the previous close of 1477.65 points.

The S&P CNX Nifty Junior crashed by 95.55 points to 2968.10 points from the previous close of 3063.65 points.

Similarly, the CNX Defty and CNX-500 ended lower by 20.00 and 25.45 points to 1159.75 and 1081.60 points respectively.

The exchange reported total turnover of Rs 36.09 billion. About 319 securities increased, 842 declined and 32 held unchanged during the day. Today, 173 shares hit the price bands.

Reliance topped the list of turnover by registering the highest turnover of Rs 5.60 billion followed by Satyam Computer Services Rs 3.79 billion, Zee Telefilms Rs 2.54 billion and Global Telesystems Rs 2.48 billion.

Reliance Industries, Tata Tea, Reliance Petroleum, ABB and M&M were the major gainers while Dr Reddy's, Satyam, Ranbaxy, NIIT and HDFC Bank as major losers during the day.

UNI

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