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Sensex slips 55 points in choppy trade

June 11, 2009

INDIA-BUDGETInvestors today booked profits in a market that had touched a 10-month high on Wednesday, bringing the benchmark down by 55 points.

The Sensex closed at 15,411 after recovering over 150 points from the day’s low. The index was led lower by losses in Infosys, ONGC and SBI.

Info-tech stocks stood out for their bad run, with the sectoral index shedding 2.5 percent. Infosys Technologies and Wipro lost 2.8 and 2.1 percent respectively.

Outsourcer Satyam however bucked the trend, closing at 80.8 after hitting the 10 percent upper circuit for the third day in a row (Satyam – Full Coverage).

Gains were seen in the metal index. JSW Steel was up nearly 9 percent, while Hindalco ended 8 percent higher.

ACC, Maruti Suzuki, Mahindra & Mahindra and Colgate touched their 1-year highs today.

With several investors still sitting on huge profits made over the past few months, do you think profit-booking will derail the recent rally?

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