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A maturing market amid the mayhem

Sensex slips over 1 pct after volatile trade

May 13, 2009

MARKETS-SOUTHASIA-STOCKS/The Sensex managed to close a tad above the 12,000 mark after a choppy session as wary investors booked profits after yesterday’s rally and awaited exit polls for cues.

An over 1 percent loss in Reliance Industries and a 3.4 percent loss in ONGC led the benchmark lower to close at 12,020 points.

Metal stocks had a tough day and the metal index ended with losses of 2 percent. The IT, oil & gas and banking indices ended down over 1 percent each.

DLF was in focus after its founders raised $783 million through sale of shares. The scrip closed 1.6 percent lower and traded with heavy volumes of over 179 million shares on the BSE.

Shares in Yes Bank jumped over 10 percent while some stocks like LIC Housing Finance, Mphasis and Bank of Baroda touched their 52-week highs.

The country voted in the final stage of a closely fought general election today, and the results, to be announced on Saturday, will be closely watched by market participants. Do you think the outcome will bring cheer to the market?

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