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Market holds firm on FIs' support; Nifty rises over 20 points, 920.50

Pivotals registered moderate gains at the National Stock Exchange on good buying support from institutional investors and speculators today.

Reflecting the firm trend, the S&P CNX Nifty opened at 900.20 points (day's low), touched the day's high of 921.65 points, before closing at 920.50 points, registering a net gain of 20.80 points against Friday's close of 899.70 points.

CNX Nifty Junior firmed up by 10.95 points to 1474.35 points against the previous close of 1463.40 points.

S&P CNX Defty index gained by 16.70 points to 750.20 points from Friday's close of 733.50 points.

S&P CNX 500 and CNX Midcap 200 rose by 12.33 and 6.76 points to 617.24 and 523.39 points against the previous close of 604.91 and 516.63 points respectively.

Total turnover on the NSE reported during the day was Rs 12.96 billion. About 55.22 million shares changed hands in 175,208 trades today. About 581 securities advanced, 366 declined and 98 held steady while 48 securities hit their price bands.

ITC posted the day's highest turnover of Rs 2.78 billion, followed by Reliance Rs 1.52 billion, Zee Telefilms Rs 1.50 billion, Satyam Computers Rs 1.30 billion and State Bank of India Rs 812.3 million.

Other actively traded scrips were Pentafour Software (Rs 681 million), Hindustan Lever (Rs 327.9 million), BHEL (Rs 298.8 million), Castrol (Rs 247.8 million), L&T (Rs 229.3 million), Tata Tea (Rs 226.1 million), HCL-HP (Rs 184.2 million), MTNL (Rs 184 million), Silverline (Rs 172.5 million), ACC (Rs 153.3 million), Infosys Tech (Rs 148.1 million), NIIT (Rs 136.9 million), Dr Reddy's (Rs 117.6 million), BFL Software (Rs 112 million), Tisco (Rs 111.8 million), Telco (Rs 102.4 million), Hindalco (Rs 100.5 million), Gujarat Ambuja Cement (Rs 64.2 million), Rolta (Rs 60.5 million), BPCL (Rs 56.9 million).

Top five S&P CNX Nifty gainers were Hindalco Rs 495.10 (458.50), IPCL Rs 56.65 (Rs 52.90), HDFC Bank Rs 68 (62.80), East India Hotels Rs 189.40 (Rs 178.35) and Gujarat Ambuja Cement Rs 198.75 (187.15).

Top S&P CNX Nifty losers were IFCI which closed at Rs 22.15 (22.45), ICICI Rs 68.20 (Rs 69.10), IDBI Rs 53.95 (Rs 54.45) and TVS Suzuki Rs 482.65 (484.10).

Foreign institutional investors bought shares worth Rs 44.7 million against their sales worth Rs 233.5 million, recording a net FII outflow of Rs 188.8 million.

The domestic institutional investors made purchases worth Rs 119.6 million against their sales worth Rs 56.8 million, thereby reporting moderate inflow of Rs 62.8 million.

The wholesale debt market of the NSE witnessed trades worth Rs 13.32 million. The 11.10 per cent government loan maturing in 2003 was traded for Rs 200 million at a weighted yield of 11.88 per cent. The 10.85 per cent government loan maturing in 2001 was traded for Rs 300 million at a weighted yield of 11.60 per cent. Commercial paper of Larsen & Toubro maturing on September 29 was traded for Rs 50 million at an yield of 10 per cent.

UNI