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Equities move in narrow range; Nifty crawls up to 1347.30

Equities moved in a narrow range and recorded marginal recovery at the National Stock Exchange on select buying support from institutional investors and operators today.

Mirroring the trend, the S&P CNX Nifty Index opened at 1345.60 points, touched the day's high of 1350.30 points, a low of 1332.40 points, before closing at 1347.30 points, showing a net gain of 2.30 points or 0.17 per cent from the previous close of 1345.00 points.

The S&P CNX Nifty Junior shot up by 26.15 points to 2475.55 points as against the previous close of 2449.40 points.

Dealers said that the market moved in a narrow range and various side counters witnessed considerable gains on good buying support from investors.

The counters which posted handsome gains of over 6 per cent were Tata Tea, Global Telesystems, Pfizer, Ballarpur Industries, Birla 3M, Escorts, Gujarat Gas, Hindustan Oil, IndusInd Bank, Ind Glycol, Jindal Photo, Lyka Lab, S Kumar's and Zuari Agro.

Operators were busy in unwinding of their long-term positions in view of the last day of weekly settlement at the Bombay Stock Exchange and therefore the rally was seen restricted in second line counters, dealers said.

Reflecting the trend, the S&P CNX-500 index closed higher by 6.23 points to 968.58 points from the previous close of 962.35 points. Similarly, the S&P CNX Defty ended up by 0.25 points to 1072.00 points from the previous close of 1071.75 points.

The CNX Midcap-200 gained smartly by 13.47 points to 888.42 points from the previous close of 874.95 points.

UNI

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