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FI selling pressure depresses market; Nifty down four points, 817.05

Pivotals declined on selling by foreign institutional investors and domestic institutional investors at the National Stock Exchange today.

S&P CNX Nifty opened at 821.30, touched the day's high of 822.50, fell to the day's low of 814.50 before closing at 817.05, showing a net loss of 4.10 points from the previous close of 821.15.

CNX Nifty Junior ended lower by 4.35 points at 1384.95, S&P CNX Defty closed at 665.50, exhibiting a fall of three points, while S&P's CNX 500 and CNX Midcap 200 firmed by 1.94 and 1.10 points to end at 562.18 and 507.30 respectively.

The total turnover reported on the NSE was Rs 8.71 billion from trading in 39.9 million shares. The number of trades was 142,169 and debenture traded value was Rs 2.96 million. A total of 353 scrips advanced, 563 declined and 108 were unchanged while 22 securities hit their price bands today.

Satyam Computers topped the turnover list with Rs 1.40 billion followed by ITC (Rs 1.15 billion), Pentafour Software (Rs 771.3 million), Zee Telefilms (Rs 641.7 million) and SBI New (Rs 617.9 million).

Others that recorded a high turnover were ACC, Reliance, Silverline, Telco, Tisco, Square-D Software, Castrol and Tata Tea. The top gainers were Tata Power, Bajaj Auto, Nestle, Infosys and Mahindra and Mahindra.

Prominent shares that shed value were ACC, Great Eastern Shipping, Tata Chemicals, India Hotels and East India Hotels.

The foreign institutional investors were net sellers to the tune of Rs 104.8 million, while domestic institutional investors and mutual funds offloaded shares of a net amount of Rs 554 million.

The wholesale debt market of the NSE witnessed increased activity with trades worth Rs 5.53 billion. The 11.40 per cent government loan maturing in 2000 was traded for Rs 950 million at a weighted yield of 11.34 per cent. The 11.75 per cent government stock maturing in 2001 was traded for Rs 550 million at a weighted yield of 11.49 per cent.

The zero coupon government bond maturing in 2000 (Series III) was traded for Rs 350 million at a weighted yield of 11.32 per cent. The 12.50 per cent state government loans maturing in 2008 were traded at a weighted yield of 12.44 per cent.

UNI

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