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Stocks fall after initial upmove; realty down

This article was posted on Jun 11, 2009 and is filed under Market News

MUMBAI: Stocks lost steam on Thursday after a brief positive start as investors chose to book profits in recent gainers. Realty and technology stocks took a hit while healthcare and auto stocks edged higher.

After opening on a firm footing, Bombay Stock Exchange’s Sensex lost 73 points to 15389 while National Stock Exchange’s Nifty was trading at 4634, lower by 20 points.

US stocks fell on Wednesday on worries that rising interest rates may hurt consumer and business spending, but stocks pared losses late in the session to finish off the day’s lows.

The Dow Jones Industrial Average dropped 24.04 points, or 0.27 per cent, to 8,739.02. The Standard & Poor’s 500 Index lost 3.28 points, or 0.35 per cent, to 939.15. The Nasdaq Composite Index fell 7.05 points, or 0.38 per cent, to 1,853.08.

Stocks across the Asia-Pacific region were trading on a mixed note tracking the subdued action on Wall Street. The Nikkei slipped 0.3 per cent, Topix shed 0.05 per cent, Straits Times was down 0.17 per cent while Hang Seng edged 0.46 per cent higher and S&P/ASX climbed 0.5 per cent.

source: Economictimes

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