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Profit booking sets in; M&M, SBI hit

This article was posted on Jun 3, 2009 and is filed under Market News

MUMBAI: Profit booking shaved away early gains leaving key indices below its previous session’s close. The negative opening on the European bourses weighed on sentiment. Metals, technology and oil & gas stocks were hit as investors sold into recent gains.

At 1:45 pm, Bombay Stock Exchange’s Sensex was at 14,832.02, down 42.89 points or 0.29 per cent. The index touched an intra-day high of 15046.43 and low of 14,779.58.

National Stock Exchange’s Nifty was at 4508.10, up 17.15 points or 0.37 per cent. The broader index hit a high of 4574.90 and low of 4488.35.

Secondline stocks were trading on a flat note. BSE Midcap Index was up 0.31 per cent and BSE Smallcap Index was up 1.31 per cent.

Mahindra & Mahindra (-4.14%), State Bank of India (-2.49%), Infosys Technologies (-2.81%), ICICI Bank (-2.31%) and DLF (-2.36%) were amongst the Sensex losers.

Tata Motors (4.21%), ITC (3.7%), ACC (3.7%), Grasim Industries (3.2%) and Jaiprakash Associates (2.96%) posted decent gains.

Market breadth on BSE still remained positive with 1764 advances against 972 declines.

In the overseas markets, FTSE 100 lost 1.52 per cent, DAX 30 shed 0.61 per cent and CAC 40 skid 1.05 per cent.

source: Economictimes

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