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Sensex ends losing streak, gains 54 pts
The BSE Sensex finally snapped its losing streak after four consecutive trading sessions to close 54 points higher at 17,614 on Monday, even as global indices droped sharply on concerns of a slowdown in the US economy. Banking stocks saved the day for the Indan bourses, as investors were bullish on these countres a head of the Reserve Bank review of the monetary Policy on October 30 The broader NSE nifty, however, fell by 31.30 points or 0.6% to close at 5,184.
The trading session was extremely volatile mainly due to the approaching expiry of derivatives series, which forced investors either to roll over positions to the November series or square off before expiry of contracts on Thursday, market players said.
Investors saw their wealth increase by Rs 31,500 crore as the Bombay stock Exchange’s market capitalisation rose to Rs 54.58 lakh crore.