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Closing Bell: Last minute gains help Sensex, Nifty to end on flat note

However, with few late gains in the last session dodged another day of big losses.

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Closing Bell: Last minute gains help Sensex, Nifty to end on flat note
ONGC was the top gainer of the day, gaining more than 4%.
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The Sensex today dropped by 27 points to end at nearly one-month low of 31,599.76, extending its losing streak for the sixth day. However, with few late gains in the last session dodged another day of big losses.

The 30-share Sensex ended lower by 26.87 points, or 0.08 per cent, at 31,599.76 after shuttling between 31,693.59 and 31,455.65. The barometer had lost 797.13 points in the previous five sessions on lacklustre global cues and unabated foreign fund outflows.

The 50-share NSE Nifty settled a shade lower by 1.10 points, or 0.01 per cent, at 9,871.50. During the session, it moved between 9,891.35 and 9,813. Concerns over stretched valuations of several bluechips as well as midcap stocks too accelerated the selling pace, brokers said.

ONGC was the top gainer of the day, gaining more than 4%. Experts believe that the recent announcements of Saubhagya scheme drove the stock higher.

Selling by retail investors in the secondary market to raise funds to invest in the primary market by subscribing IPOs of several companies, also fuelled downward trend.

World stocks and the euro fell for a fourth day on Tuesday, as investors that had piled into both all year took a step back as the list of global uncertainties began to lengthen again.

The list included a new low in US and North Korean relations, a jolt to the right in German politics, rising oil prices, falling tech stocks and the prospect of signals later from the ECB and Federal Reserve on their next moves.

(With inputs from agencies)

 

 

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