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Indian stock market daily closing report (October 10, 2012)

Contributed by Nirmal Bang

After a gap down opening the Indian markets remained under pressure throughout the day and ended near days low point today. On the back of decrease in India GDP forecast by International Monetary Fund (IMF), the Standard & Poor’s declaration that India still faced a one-in-three chance of a credit rating downgrade over the next 24 months dampened investor’s sentiments. All the sectoral indices except FMCG ended in red today.

The breadth of the market was negative in today’s trade.