Monday, January 12, 2009

Market Close: Sustained profits booking in index heavyweights keep benchmarks under pressure

The Indian markets began the day in the red on the back of negative cues from their Asian peers. Thereafter, the benchmark indices languished below the dotted line as the negative sentiment endured throughout the trading session.

Foreign institutions were offloading positions as global economic slowdown concerns raised after weak US data. Market also discounted positive IIP data, which grew 2.4 per cent in November as compared to -0.4 percent in October.

The Sensex closed lower by around 300 points, while the Nifty closed lower by about 100 points. Stocks from the mid-cap and small-cap indices too ended the day in the red. The metal and realty sectors lead the fall of the indices today. The rupee closed at 48.75 against the US dollar. Most Asian and European markets too ended the day on a negative note


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