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Nifty drops 12.5 points

A weak spell was observed on the National Stock Exchange today as leading scrips exhibited a downslide following speculative selling pressure.

Reflecting the trend, the NSE-50 'Nifty' index opened at 1091.25, fell sharply to the day's low of 1074.10 points and later closed at 1079.15 points, showing a net loss of 12.50 points over the previous close of 1091.65 points.

Similarly, Dollar NSE-50 Defty index drifted lower by 11.45 points to 948.40 points as against the previous close of 959.85 points. The Midcap index closed lower by 11.70 points to 1216.80 points against the previous close of 1228.50 points.

The total turnover reported on the NSE during the day was Rs 12.8 billion.

ITC stood first in the list by registering highest turnover at Rs 5.7 billion, followed by Tata Tea Rs 1.4 million, State Bank of India-N Rs 1.3 billion, Reliance Rs 834.8 million and Castrol Rs 398.2 million.

Hectic activity was observed at the other counters like TELCO Rs 395 million, Corp Bank Rs 287.3 million, TISCO Rs 230.1 million, Hind Lever Rs 208.9 million, BPL Rs 207.5 million, ACC Rs 194.9 million, L and T Rs 114.8 million, MTNL Rs 92.2 million, Bajaj Auto Rs 91.2 million, BHEL Rs 80.1 million, Infosys Tech Rs 74.2 million, Colgate Rs 63.6 million, Ranbaxy Rs 52.4 million, ICICI Rs 50.7 million, IPCL Rs 50.4 million, LML Rs 50.4 million, BSES Rs 34.1 million, Rel Petro Rs 33.6 million, and HDFC Rs 30.6 million.

Among the gainers, Cochin Refin gained by 2.21 per cent to Rs 189.40, ABB increased by 0.89 per cent to Rs 509.70, ICICI firmed up by 0.55 per cent to Rs 81.75, Thermax up by 0.43 per cent to Rs 199.50 and Tata Tea gained by 0.19 per cent to Rs 437.90.

Among the losers, Ashok Leyland drifted lower by 4.28 per cent to Rs 43.65, Andhra Valley dropped by 3.63 per cent to Rs 80.95, Arvind Mills dropped by 3.11 per cent to Rs 92.05, BPCL lost by 3.06 per cent to Rs 422.60, OBC declined by 2.40 per cent to Rs 63.15.

UNI