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Sensex logs first drop in 9 days, after hitting new high

However, the Nifty finished higher 3.80 points to close at 8,914.30

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Press Trust of India Mumbai
The Sensex on Wednesday hit an all-time high of 29,786.32 but ended 11.86 points down at 29,559.18, its first drop in nine sessions, on profit-booking in capital goods, metal and automobile shares, ahead of the outcome of the US Federal Reserve policy meeting.

Nervousness also played on investors' minds ahead of the expiry of monthly futures and options contracts tomorrow, traders said, adding that participants took some money off the table after the massive over 2,200-point rally in eight days.

However, the NSE Nifty index finished higher by 3.80 points, or 0.04 per cent, to close at 8,914.30. Intra-day, it hit a high of 8,985.05. The Nifty has gained 636.75 points or 7.69 per cent in nine straight days of gain.
 

Consumer Durables, Realty and IT bluechips firmed up, helping the index end in the positive zone.

"Profit booking was seen in market ahead of expiry of January derivative contracts. Investors also remain cautious ahead of US Federal Reserve's announcement later in the day," said Religare Securities, President-retail distribution, Jayant Manglik.

Globally, Asian stocks ended mixed as reports said US earnings and durable-goods orders disappointed investors. Key benchmark indices in Hong Kong, Singapore, Japan and South Korea ended higher by 0.20 per cent to 0.47 per cent while indices in China and Taiwan moved down by 0.11 per cent to 1.41 per cent.

European markets were also trading narrowly mixed as key indices Germany and the UK moved up by 0.04 per cent to 0.09 per cent while France's CAC was quoting down by 0.20 per cent.

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First Published: Jan 28 2015 | 10:14 PM IST

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