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Sensex falls 1.4 percent, led by ICICI

May 6, 2009

The BSE Sensex closed 1.4 percent lower on Wednesday as investors booked profits ahead of the fourth phase of India’s general elections on Thursday.

The benchmark closed 178.33 points down at 11,952.75 while the Nifty ended 1.01 percent lower at 3625.05.
INDIA-STOCKS/6PCTThe Sensex fall was led by ICICI Bank, HDFC, ITC and Tata Steel.

On the sectoral front, the BSE realty index shed nearly 3.7 percent. This was followed by the banking index which ended lower by 2.9 percent. All other indices also ended the day in red.

On the global front, world stocks approached a 2009 high, helped by positive results from BNP Paribas and euro zone data which showed signs of improvement. But concerns over U.S. banks results were expected to weigh on investors minds.

In Wednesday’s trade, FIIs bought net $140 million in India shares and sold $37.50 million in debt.

Do you think the election results next week would further rein in the Sensex?

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