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Mixed trend, moderate business, marginal movement; Nifty 849.10

Pivotals exhibited a mixed trend on the National Stock Exchange and witnessed moderate business volume today.

Mirroring the mixed trend, the S&P CNX Nifty edged up by 1.15 points to 849.10 from 847.95 points of the previous day.

The CNX Nifty Junior, however, showed a marginal decline of 5.75 points to 1483.10 points from 1488.85 points. The S&P CNX Defty looked up by 0.95 points to 694.70 from 693.75 and the S&P CNX 500 rose slightly by 2.62 points to 589.94 points from 587.32 points. The CNX Midcap 200 index remained steady at 527.64 points.

The total turnover, involving Rs 60.07 million shares in 206,200 trades was Rs 16.68 billion. The debenture's turnover was Rs 6.37 million. 394 securities firmed up, 514 declined and 107 remained unchanged. More than 30 securities hit their price bands today.

The top gainers in the S&P CNX Nifty were: Reliance Petro 4.74 per cent improvement to Rs 19.90, Glaxo 2.22 per cent to Rs 472.20, MTNL 2.01 per cent to Rs 192.85, Reliance 1.80 per cent to Rs 110.55 and ITC 1.60 per cent to Rs 700.55.

The top losers were: ICICI 7.32 per cent decline to Rs 40.50, M&M 5.19 per cent to Rs 158.15, IFCI 5.12 per cent to Rs 18.55, Bank India 4.37 per cent to Rs 24.05 and Grasim 3.21 per cent to Rs 155.30.

Both the foreign institutional investors and domestic institutions were today net sellers worth Rs 164.7 million and Rs 16.1 million.

Satyam Computers registered the highest turnover of Rs 3.38 billion, followed by ITC (Rs 3.31 billion), Zee Telefilms (Rs 1.48 billion), Reliance (Rs 1.35 billion), SBI (Rs 1.22 billion), Penta Software (Rs 943.5 million), Dr Reddy's (Rs 491 million), Hindustan Lever (Rs 295.7 million), HCL-HP (Rs 292.7 million), ACC (Rs 284.4 million), NIIT(Rs 245.7 million), Infosys Technologies (Rs 211.5 million), Castrol (Rs 201.8 million).

The other counters, which witnessed hectic activity were, BHEL (Rs 185.6 million), MTNL (Rs 170.9 million), L&T (Rs 167.6 million), BFL Software (Rs 163.1 million), Square D Software (Rs 124.1 million), Bajaj Auto (Rs 111.6 million) and Tata Tea (Rs 105.4 million).

The wholesale debt market of the NSE witnessed trades worth Rs 2.87 billion. The zero coupon government bond maturing in 1999 was traded for Rs 620 million at a weighted yield of 10.21 per cent.

The 12.08 per cent government bond maturing in 2001 was traded for Rs 200 million at a weighted yield of 11.59 per cent. The 12.50 per cent non-SLR bond of IDBI maturing in 1999 was traded for Rs 8 crore at a weighted yield of 12.58 per cent. Two repo trades worth Rs 600 million were transacted at repo rates of 8.55-8.85 per cent for 14 days. The turnover in debentures was Rs 5.49 million.

UNI