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Markets end flat amid volatility; Nifty holds 8,100


Markets ended marginally lower amid volatility extending the fall for fourth straight day dragged by metal and auto shares. However, value buying in financials and index heavyweight Reliance Industries helped cap the downside.

The 30-share Sensex closed lower by 23.78 points at 26,813.42 and the 50-share Nifty slipped 4.45 points at 8,130.65.

According to KK Mittal, Managing Director, Globe Capital, "Investors sentiments are dampened after the rate cut of 25 bps against the possibility and expectation of 50 bps, poor corporate earnings growth and expectation of poor monsoon. Nifty may come down to the levels of 7,800 and then one can start taking positions especially in select IT, banks and pharma sectors".

The broader markets ended mixed- BSE Midcap index inched up by 0.2% and the Smallcap index ended flat.
The market breadth was marginally negative. Out of 2,772 stocks traded on the BSE, there were 1,277 advancing stocks as against 1,381 declines.
The India Meteorological Department (IMD) yesterday said that conditions are favourable for onset of southwest monsoon over Kerala during next 48 hours.
In the currency front, the rupee was trading at 64.09 to the US dollar compared to the previous close after foreign funds turned net sellers in domestic equities tracking overseas gains in the US currency.

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