Pivotals remain firm

Operators said domestic financial institutions made big purchases in key scrips like HPCL, SBI, BPCL, MTNL and others. The fresh buying support was to square up the positions to avoid high margins on the carry forward business. FIIs were reportedly net buyers in pharmaceutical and software scrips like Ranbaxy, Dr Reddy8217;s, Knoll Pharma, Smithkline Pharma, Digital Equipment, Pentafour Software, Silverline, Satyam Computers, NIIT and others.

Pentafour Software remained the top traded scrip with a volume ofRs 303.01 crore of the total turnover of Rs. 1595.73 crore and the scrip soared by Rs 36.25 to Rs 881.25 on brisk buying. ITC gained by Rs 6.75 to Rs 850, Satyam Computer by Rs 43.75 to Rs 950.75, Digital Equipment by Rs 23.80 to Rs 321.70, TELCO by Rs 2 to Rs 206.80 and TISCO by 70 P to Rs 117.50. However, Tata Tea dropped by Rs 14.25 to Rs 443 on profit-taking.

On the National Stock Exchange NSE, select pivotals rose further sharply due to heavy purchases by foreign institutional investors FIIs and the Nifty gained by 10.20 points. Shares valued at 2,255.57 crore were transacted. In the exchange, 529 shares advanced, 575 declined and 115 held steady with 69 securities hitting their price bands.