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Sensex choppy on mixed bag of results

April 22, 2009

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 benchmark erased early gains and closed 80.57 points down at 10,817.54, while the Nifty ended 1.04 percent down at 3330.3.MARKETS-SOUTHASIA-STOCKS/

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?

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