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Market pares gains, Nifty then goes into red

This article was posted on Oct 29, 2008 and is filed under Market News

After a jump start in the early trades, key indices were unable to hold on to their gains as traders and investors preferred to book some profits at higher levels. The realty, pharma, FMCG and power stocks were under pressure. At 10:40 am (IST), the BSE 30-share Sensex was down 30 points at 8,982 and the NSE Nifty was down 29 points at 2,655.

Among the 30 components of the Sensex, 15 stocks were in the red and 15 stocks were in the positive terrain. Index heavyweights like HUL, Maruti, NTPC and RCom were among the major laggards. However, among the major gainers were, HDFC, Reliance Industries, Infosys, ICICI Bank and BHEL.

Market breath was positive, 971 stocks advanced against 653 declines, while, 37 stocks remained unchanged.

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