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The Nifty and the Sensex closed flat on Monday. The Nifty closed nine points down at 5871 and the Sensex closed 35 points down at 19305.
“Sluggish growth phase continues,” said Indranil Pan, Chief Economist, Kotak Mahindra Bank in his report on the Indian economy, while maintaining a GDP growth forecast of 5.6 per cent for FY13.
“RBI is likely to delay repo rate cuts to 4QFY13 but may resort to a judicious mix of OMOs and CRR to manage tight liquidity going forward in December,” he added. Volatility was up three per cent and the India Vix closed at 15.62.
ACC, Ultratech Cement, SBI, RIL and JP associates were the top five Nifty gainers while HDFC Bank, IDFC, Bharti Airtel, GAIL, and ONGC were the top losers.
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