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Nifty dips by 20.05 points

Pivotals suffered a moderate setback on the National Stock Exchange following speculative selling pressure from institutional investors, coupled with lack of support from foreign institutional investors today.

Reflecting the trend, the NSE-50 index opened at 1012.20 points (the day's high), fell sharply to 990.85 and recovered slightly to close at 992.35 points, showing a net loss of 20.05 points over the previous close of 1012.40 points.

The Dollar NSE-50 index dropped by 17.60 points to 887.10 points over the previous close of 904.70 points. The Midcap index drifted lower by 18.25 points to 1127.60 points over the previous close of 1145.85 points.

Total turnover on the exchange reported during the day was Rs 10.1 billion.

Tobacco giant ITC topped the list of turnover by registering highest turnover of Rs 280.46 million, followed by State Bank Rs 1.6 billion, Tata Tea Rs 1.5 billion, Castrol Rs 1 billion, and Reliance Rs 538.6 million.

Hectic trading activity was also witnessed at the other counters like TELCO Rs 270.3 million, TISCO Rs 217.4 million, Hind Lever Rs 197.9 million, ICICI Rs 197.7 million, L and T Rs 177.7 million, ACC Rs 168.4 million, MTNL Rs 143.4 million, BHEL Rs 119.8 million, Corp Bank Rs 98.7 million, Ranbaxy Rs 89.6 million, LML Rs 71.8 million, BSES Rs 61 million, Hero Honda Rs 50.9 million, Inger Rand Rs 49.4 million, Bajaj Auto Rs 48.5 million, HDFC Rs 42.6 million, Satyam Comp Rs 40 million, ICICI Bank Rs 33.4 million, Aptech Rs 32.4 million and BPL Rs 32.1 million.

There was no gainers today while thermax, L and T, ICICI, BSES and State Bank of India emerged as major losers.

UNI