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A maturing market amid the mayhem

Sensex closes weak; RBI policy eyed

April 20, 2009

The Sensex closed 0.40 percent lower on Monday, amid mixed Asian markets and profit booking by investors.

The benchmark closed 43.59 points lower at 10,979.50, while the Nifty ended 0.22 percent down at 3,377.10.

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The benchmark’s fall was led by ICICI Bank, HDFC, ITC and NTPC.

On the sectoral front, the BSE Banking Index led the decline, losing nearly 1 percent. This was followed by the BSE FMCG Index which was down 0.75 percent. However, the BSE Metals Index bucked the trend and gained 2.5 percent.

On the global front, Asian markets were choppy and the effect was also seen on the Sensex. Signs of recovery in the U.S. economy have kept sentiments buoyed, mainly due to positive results from two big U.S. firms Citigroup and GE.

With the RBI’s annual credit policy for 2009-10 due tomorrow, do you think a favourable measure will help the Sensex register gains?

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