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Market Update: Sensex Cuts Gains to End Flat
The S&P BSE Sensex erased early gains to close at 50,638 on Tuesday, little-changed from the previous session’s two-and-a-half-month high, as a decline in heavyweight financials offset gains in IT and metal stocks. Barclays cut its full-year 2021-22 economic growth forecast for India, due to strict lockdown measures imposed to curb rising infections. Earlier this month, ratings agency Moodys Investors Service had said the ongoing crisis would slow the country’s near-term economic recovery. On a brighter note, India reported 196,427 new COVID-19 infections on Tuesday, its lowest daily rise in more than a month. [/s2If]
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