A maturing market amid the mayhem
Sensex choppy on mixed bag of results
The BSE Sensex closed 0.74 percent lower on Wednesday as weak Asian markets dampened sentiments and investors booked profits for a third session.
The fall in the Sensex was led by L&T, ONGC, BHEL and SBI.
On the sectoral front, the BSE Realty Index lost nearly 4.6 percent. This was followed by the BSE Consumer Durable Index which was down 3.9 percent. However, the BSE FMCG Index bucked the trend and gained 0.18 percent.
Cement maker ACC posted better-than-expected 23 percent rise in quarterly profit on strong sales volumes. The stock ended 5.2 pct higher at 645.75 rupees.
Outsourcer Wipro beat expectations with a 4 percent rise in profit, although it forecast a fall in June quarter revenue. Shares in Wipro ended 2.7 percent higher at 281.65 rupees.
Globally, there was an air of caution amongst investors despite U.S. Treasury Secretary Geithner saying most U.S. banks had adequate capital to keep lending.
Do you think the mixed bag of results from India Inc will weigh on investor sentiments and push the market further down?