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Nifty drops

Share prices at the National Stock Exchange drifted lower on selling pressure by domestic institutions and foreign institutional investors and speculative offloading by bear operators in Bombay today.

The NSE-50 index opened slightly higher at 1013.50 points, saw a high of 1023.85 points and low of 1008.15 points, before closing at 1009.70 points, as compared to the previous close of 1013.15 points, showing a net loss of 3.45 points.

The Midcap index closed at 1136.05 points as compared to yesterday's close of 1138 points, while the Dollar NSE-50 index ended at 891.35 points from the previous close of 890.95 points. The total turnover at the exchange was Rs 13.9 billion involving 48.6 million shares.

Hectic trading was witnessed at ITC Rs 5.9 billion, Tata Tea Rs 1.9 billion, Reliance 1.5 Billion, SBI Rs 1.2 billion, Castrol Rs 679 million, Rs TISCO Rs 268.5 million, Bajaj Auto Rs 248.5 million, Hind Lever Rs 242.6 million, MTNL Rs 228.3 million, ACC Rs 219.1 million, TELCO (143.3 million, Corp Bank (123.8 million, Colgate Rs 120 million, BHEL Rs 96.2 million, P and G Rs 75 million, HPCL Rs 61.7 million, Nicolas Pir Rs 60.3 million, LML Rs 55.4 million, L and T Rs 45.2 million, M and M (35.3 million, ICICI (35.2 million, BSES Rs 30.5 million, Infosystch Rs 23.9 million, Smitklbeech Rs 22.6 million and HDFC Bank Rs 18.2 million.

The top gainers were HDFC Bank, M and M, ABB, MRPL and IDBI, while the losers were Thermax, Bajaj Auto, Tata Tea, ITC and BHEL.

UNI