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Nifty plunges, recovers to close slightly lower

After an initial weakness, the pivotal prices recovered smartly following renewed buying interest by local operators at the National Stock Exchange on Thursday, though it still closed lower than Wednesday.

Reflecting the mixed trend, the NSE-50 Index opened at 1084.80 points, touched the day's high of 1085.20, declined to the day's low of 1068.40 points, and later closed at 1080.95 points, netting a further loss of 4.05 points over the previous close of 1085.00 points.

Similarly, the Midcap Index declined by 8.15 points to 1223.45 points as against the previous close of 1231.60 points.

Total turnover on the NSE reported during the day was Rs 1320.16 million.

ITC registered highest turnover of Rs 6.6 billion, followed by Tata Tea Rs 1.2 billion, Reliance Rs 1.3 billion, SBI Rs 1 billion and MTNL Rs 424.4 million.

Hectic activity was observed at the other counters like TISCO Rs 239.1 million, ACC Rs 353.6 million, TELCO Rs 189.9 million, Hind Lever Rs 113.9 million, Castrol Rs 160.5 million, BHEL Rs 147 million, LML Rs 98.7 million, VSNL Rs 90.3 million, Satyam comp Rs 79.7 million, Soft Solint Rs 60.7 million, Hero Honda Rs 40 million, IPCL Rs 52.3 million, Colgate Rs 26 million.

Among the top gainers, ACC gained by 2.36 per cent to Rs 1186. 85, IPCL by 2.15 per cent to Rs 90.45, Ind hotels gained by 1.33 per cent to Rs 590.05, ITC increased by 1.14 per cent to Rs 567.50 and Cochin Ref went up by 1.12 per cent to Rs 166.30.

Ponds lost by 2.47 per cent to Rs 939.35, Guj Amb Cem declined by 2.16 per cent to Rs 282.90, Bajaj Auto dropped by 2.11 per cent to Rs 566.65 IndoGulf fell by 2.11 per cent to 37.20 and Hindalco slid by 1.91 per cent to 957.35.

UNI