Key benchmark indices fell on Wednesday to a
2-1/2 week low, retreating for a fourth session from a record high on
Friday, as blue-chips geared to the domestic economy such as Larsen
& Toubro Ltd (L&T) and ICICI Bank slumped in a bout of
profit-taking. A third consecutive session of sales by foreign investors
in index futures on Tuesday also dampened the mood. CNX Nifty shut shop
at 6696.4 down by 18.85 points.
Metal stocks declined on reports the Chinese Academy of Social Sciences (CASS), one of Beijing's top government think tanks, has revised its 2014 GDP growth forecast down to 7.4%, below the official 7.5% target, and said that growth could slow to as low as 7%. The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 19 advances to 29 declines, 2 unchanged.
Metal stocks declined on reports the Chinese Academy of Social Sciences (CASS), one of Beijing's top government think tanks, has revised its 2014 GDP growth forecast down to 7.4%, below the official 7.5% target, and said that growth could slow to as low as 7%. The market breadth, indicating the overall health of the market was negative, in Nifty50 stocks the advances to declines stands at 19 advances to 29 declines, 2 unchanged.
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