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Pivotals seek to reach for the skies; Nifty up over 12 points, 899.95

Pivotals traced a skyward movement as assertive market sentiment affected the National Stock Exchange positively to mark a remarkable rise in its uptrend from a couple of days.

The S&P CNX Nifty recorded a gain of 12.85 points after opening nominally higher at 887.25 points from its previous close of 887.10 points. It reached a day's high of 902.05 points and a low of 882.60 points before it closed at 899.95 points. The CNX Nifty Junior rose nominally by 4.95 points by closing at 1490.00 points as compared to its previous close of 1485.05 points. It reached a day's high of 1493.40 points and a low of 1468.35 points after opening at 1485.25 points.

The S&P CNX Defty and 500 rose by 10.30 and 5.75 points closing at 732.85 and 608.81 points today. The CNX Midcap 200 rose by 2.09 points after opening at 521.65 points and closing at 523.62 points.

The advances were 550, slides 433 and stationary scrips 108.

The total traded value was Rs 13.30 billion and the traded quantity was 56.72 million. The number of trades recorded were 193,051 and the traded value of debentures was Rs 5.07 million.

The top gainers included IPCL, Telco, L&T, ICICI and Ranbaxy while the top losers in the list were Grasim, East India Hotels, Bajaj Auto, Tata Power and Reliance Petro.

ITC recorded the highest turnover at Rs 3.27 billion followed by Satyam Computers at Rs 1.16 billion, Zee Telefilms Rs 1.02 billion, Pentafour Software Rs 939.5 million, Reliance Rs 818.9 million, SBI Rs 807.3 million, Castrol Rs 428.6 million, MTNL Rs 350 million, Hindustan Lever Rs 308.4 million, Tata Tea Rs 281.6 million, HCL-HP Rs 281.5 million, Silverline Rs 274.1 million, ACC Rs 230.7 million.

Other gainers included L&T Rs 211.1 million, Dr Reddy's Rs 208.2 million, Telco Rs 168.5 million, BHEL Rs 155.9 million, Infosys Tech Rs 148 million, Tisco Rs 138.5 million, Rolta Rs 128.8 million, BPL Rs 95.9 million, Gujarat Ambuja Cement Rs 90 million, BFL Software Rs 86.3 million, Square D Software Rs 80.4 million, Sterlite Rs 61.1 million.

The wholesale debt market of NSE witnessed trades worth Rs 1.41 billion. The newly issued 11.98 per cent government loan maturing in 2004 was traded at par for Rs 300 million at a weighted yield of 11.99 per cent. Similarly, the 12.25 per cent government paper maturing in 2008 issued today was traded for Rs 300 million at par at a weighted yield of 12.26 per cent.

The tax-free bond of Coal India Limited maturing in 2000 was traded for Rs 150 million at a yield of 10.41 per cent. A repo trade worth Rs 100 million was transacted at a repo rate of 9.90 per cent for 14 days.

UNI