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Market Update : 
Inflation and Regional Declines Drag Sensex
Author: 123jump.com Staff
123jump.com
Last Update: 4:41 PM EDT April 08 2008


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Stocks in India fell after a sell-off in the region on persistent worries related to credit markets. Sensex declined 1.1% or 169 to close at 5,587.62 and CNX Nifty fell 1.1% or 51 to close at 4,709.65. Larsen & Toubro fell 5.1% to 2,581.30 rupees despite the company receiving four orders worth 1,687 crore rupees. Wipro lost 4% and led the decliners among software exporters.

 
ICICI Bank gained 0.5% to 813.25 rupees, DLF increased 0.7% to 621.25 rupees, HDFC increased 0.1% to 2,309.50 rupees, State Bank of India was up 0.1% to 1,674.80 rupees and HDFC Bank increased 0.1% to 1,304.30 rupees.

Reliance Update

Reliance Petroleum declined 1.6% to 168.75 rupees.

Reliance Industries declined 1% to 2,381.25 rupees after it recovered from day’s low of 2,358.60 rupees. A consortium of Reliance Industries is reportedly to have discovered oil in Yemen but its size is still to be determined.
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