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An evening walk down Dalal Street | Nifty ends rangebound session above 10,800, gains 1% in week

Benchmark indices closed rangebound session on a flat note Friday despite weakness in global peers due to growth concerns in world’s largest economy China. Overall it was a consolidation day after the rally seen in previous three consecutive sessions. The 30-share BSE ended with a positive bias but failed to hold on to 36,000 levels, rising 33.29 points to 35,962.93. The 50-share NSE Nifty closed above 10,800 levels for the first time since December 4, up 14 points at 10,805.50. For the week, the Sensex gained 0.8 percent and the Nifty rallied a percent. The consolidation was on expected lines especially after three-day rally which discounted elections results and RBI governor news, experts said, adding the market could continue to get supported by stable oil prices and rupee with rate cut hope. “Weakening rupee and decline in yield influenced investors to stay sideline,” Vinod Nair, Head of Research, Geojit Financial Services told Moneycontrol. He said inflation remained on a softening path while industrial activity is picking up which will provide support to the market. Wholesale inflation fell to a three-month low of 4.64 percent in November 2018 from 5.28 percent in previous month, dragged by decline in prices of food articles and some easing in rates of petro products. On the global front, growth concerns in Chinese economy dragged Asian and European markets to a negative terrain. China’s Shanghai Composite, Hong Kong’s Hang Seng, Japan’s Nikkei and South Korea’s Kospi closed lower by 1-2 percent after Chinese economic

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