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Market ends weak, Sensex slips over 1 pct

June 12, 2009

INDIAThe Sensex ended the week on a negative note, slipping over 1 percent, but still managed to post its 14th consecutive weekly rise.

Profit-booking continued in a market that has risen sharply since early March, dragging the benchmark down by 174 points to 15,274.

Shares in L&T, SBI, HDFC and Bharti Airtel led the index fall. Ranbaxy Labs slipped over 6 percent and was the top Sensex loser.

Most sectoral indices ended the day in the red, with realty, auto and banking sectors slipping over 2 percent each. Andhra Bank slipped nearly 7 percent and SBI ended 3.5 percent lower.

The Metal and Oil & Gas indices bucked the trend. JSW Steel gained over 11 percent, while Reliance Industries rose by 2.4 percent.

Satyam shares ended marginally lower at 80.45 rupees after hitting three upper circuits in the past three sessions. It was also the top traded stock on the BSE.

Stocks like Sesa Goa, Ceat, HDFC Bank and Hero Honda touched their 52-week highs.

Do you think the benchmark has enough steam left to extend the rally next week?

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