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Wednesday, October 05, 2011

India Earnings Report

India Earnings Report

Sensex settles at 20-month low as FIIs resume selling

Key benchmark index fell for the fourth straight day amidst high volatility as data showing a decline in service sector activity in September 2011, data showing resumption of selling by foreign funds at the beginning of this month, and likely muted-to-weak Q2 earnings weighed on sentiment. The market breadth was weak. The barometer index BSE Sensex hit 20-month closing low. The S&P CNX Nifty hit 5-1/2-week closing low. The Sensex lost 72.45 points or 0.46%, off close to 250 points from the day's high and up about 30 points from the day's low.