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Saturday, June 6, 1998

Nifty crashes 33 points on heavy selling by foreign funds 

Press Trust of India  
Mumbai, June 5: Share prices fell sharply on the National Stock Exchange here today on heavy bull liquidation along with increased selling by foreign funds and closed with heavy losses.

The NSE-50 index opened marginally lower at 1026.60 and crashed towards the fag-end to close at 993.50, showing a steep fall of 33.50 over the last close of 1027.00.

The dollar NSE-50 (Defty) index resumed weak at 851.05 and declined sharply to close at 823.10, revealing a big loss of 28.10 from the previous close of 851.70.

The midcap index also commenced subdued at 1514.95 and nosedived to finish at 1413.85, disclosing a heavy fall of 101.90 points over yesterday's mark of 1515.75.

In today's trading, around 133 scrips progressed, while 869 fell and 64 held steady with about 133 securities hitting their price bands.

Among the top 25 securities, ITC continued to dominate trading with a turnover of Rs 436.16 crore. Other leading securities were Satyam Comp (Rs 327.73 cr), SBI (Rs 134.93 cr), Pentafour Software (Rs132.64 cr), Reliance (Rs 128.49 cr) and BPL (Rs 105.68 cr).

Other actively traded securities were Zee Telefilms (Rs 77.84 cr), TISCO (Rs 58.51 cr), BFL Software (Rs 56.84 cr), TELCO (Rs 49.61 cr), Tata Tea (Rs 46.60 cr), ACC (Rs 36.50 cr), ICICI (Rs 34.62 cr), Hindustan Lever (Rs 29.85 cr), Larsen & Toubro (Rs 29.71 cr), Videocon International (Rs 28.95 cr), Castrol India (Rs 28.57 cr), Infosys Technologies (Rs 23.21 cr), Silverline Industries(Rs 21.14 cr), Sterlite Industries(Rs 18.16 cr) BHEL (Rs 13.47 cr), MTNL (Rs 10.21 cr), Bajaj Auto (Rs 10.21 cr), Corporation Bank (Rs 9.78 cr) and Wipro (Rs 9.44 cr).

Among the top Nifty gainers, only two securities were prominent. They were Ranbaxy Rs 582.90 (Rs 559.95) and Hindustan Petroleum Rs 382.00 (Rs 380.05).The major losers were Oriental Bank Rs 52.55 (Rs 58.35), Arvind Mill Rs 54.45 (Rs 60.25), Indogulf Rs 34.25 (Rs 37.85), Ashok Leyland Rs 42.00 (Rs 46.25) and Tata Chem Rs 132.65 (Rs 145.60).

Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.


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