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Pivotal make marginal gain; Nifty 920.80

After a dull start, pivotals gained marginally on the National Stock Exchange following moderate buying support from foreign institutional investors and domestic institutional investors on the last day of current settlement today.

Reflecting the market mood, the S&P CNX Nifty opened at 920.10 points, touched the day's high of 923.20, fell to touch the day's low of 915.60 and finally ended at 920.80 points, showing a net gain of 0.30 points against the previous close of 920.50 points.

CNX Nifty Junior closed lower by 9.65 points to 1464.70 points against the previous close of 1474.35 points.

S&P CNX Defty and S&P CNX 500 indices closed higher by 0.65 and 1.64 points to 750.85 and 618.88 points against the previous close of 750.20 and 617.24 points respectively. The CNX Midcap 200 increased by 2.65 points to 526.04 points against the previous close of 523.39 points.

Total turnover on the the NSE rose to Rs 13.79 billion from yesterday's turnover of Rs 12.96 billion involving 54.54 million shares and 185,836 shares and debentures turnover was Rs 2.16 million.

According to an NSE statement, 35 securities hit their price bands with 443 advances and 557 declines, 99 securities were unchanged. Satyam Computers grabbed the first place in the list of turnover by registering highest turnover of Rs 2.20 billion pushing down the market leader at second place which registered turnover of Rs 2.02 billion followed by Zee Telefilms Rs 1.70 billion, Reliance Rs 1.07 billion and Pentafour Software Rs 850.7 million.

Other actively traded securities were SBI (Rs 666.7 million), Castrol (Rs 453 million), Hindustan Lever (Rs 405.9 million), ACC (Rs 333.1 million), Dr Reddy's (Rs 311.3 million), MTNL (Rs 244.3 million), HCL-HP (Rs 215.9 million), Tata Tea (Rs 207.4 million), Infosys Tech (Rs 200.7 million), BHEL (Rs 199.6 million), L&T (Rs 190.1 million), Silverline (Rs 169.7 million), NIIT (Rs 134.2 million), Rolta (Rs 132.7 million), Telco (Rs 117.2 million), Telco (Rs 117.2 million), BFL Software (Rs 115.3 million), Tisco (Rs 97.4 million), Bajaj Auto (Rs 74.1 million), Hindalco (Rs 71.9 million) and Sterlite (Rs 70.3 million).

The top five S&P CNX Nifty gainers were Arvind Mills Rs 36.60 (Rs 34.75), M&M Rs 182.15 (Rs 175.05), Glaxo Rs 435.50 (Rs 421.10), ACC Rs 1,153.60 (Rs 1119.65) and Bajaj Auto Rs 655.05 (Rs 640.15).

The top five S&P CNX Nifty losers were Cochin Refineries Rs 183.10 (Rs 189.15), Ashok Leyland Rs 26.35 (Rs 27.15), Grasim Rs 156.10 ( (Rs 160.80), ABB Rs 498.05 (Rs 511.95) and Andhra Valley Rs 80.40 (Rs 82).

The FIIs made purchases worth Rs 211 million against their sales worth Rs 101.1 million while the FIs and mutual funds made purchases worth Rs 187.7 million against the sales worth Rs 99.1 million. There was total net inflow by FIIs was Rs 109.8 million and from FIs Rs 88.5 million.

The wholesale debt market of NSE witnessed trades worth Rs 1.41 billione. The zero coupon government bond maturing in 1999 was traded for Rs 500 million at a weighted yield of 10.61 per cent. The 12.59 per cent government loan maturing in 2004 was traded for Rs 100 million at an yield of 11.94 per cent. The 16 per cent non-SLR bond of IFCI maturing in 2002 was traded for Rs 250 million at an yield of 13.92 per cent. The 364-day treasury bill maturing on October 23, 1998 was traded for Rs 150 million at a weighted yield of 9.50 per cent.

UNI