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Markets close with marginal losses; auto stocks top laggards

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Nifty hits record high in morning trade, Sensex surges 191 points

The 30-share index fell by 43.68 points or 0.13 per cent to 32,356.83 in morning session.

Rupee drops by 23p to 2-month low against U.S. dollar - The rupee dropped to pared its initial losses, but was still quoting over two months lows, down by 23 paise to 64.50 against the American currency in afternoon deals on sustained bouts of dollar demand from importers and banks amid bullish dollar overseas.

At 3.30 p.m., the Nifty50 provisionally closed at 10,147.55 points - marginally lower by 5.55 points or 0.05 per cent.

On the global front, Asian markets ended mostly lower while European markets were trading higher after Federal Reserve monetary policy meeting. It rose 17.75 points or 0.17% at the day's high of 10,158.90 in early trade.

The BSE market breadth was bearish - 1,358 declines and 1,215 advances.

The Fed left rates unchanged for now, as was widely anticipated, but investors' expectations changed for December after the United States central bank signaled one more rate hike by year-end despite recent weak inflation readings.

The Latest GOP Health-Care Scheme Fulfills an Old Conservative Dream
Governor Terry McAuliffe comments today in response to the health care legislation introduced by Senators Cassidy and Graham. On Monday, Ducey tweeted his support for the measure, calling it "the best path forward to repeal and replace Obamacare".

United Nations Security Council condemns highly provocative North Korea missile launch
The last set of sanctions included restrictions on North Korea's oil imports and a ban on its textile exports. McMaster said new sanctions on North Korea are just going into effect and need to be given a chance to work.

IEA Sees Oil Market Moving Back Into Balance
The Paris-based IEA's monthly report noted that the US reliance on the Gulf Coast makes it vulnerable to events like Harvey. USA crude settled up $1.07, or 2. 2 percent , to $49.30 per barrel and Brent crude was up 89 cents to $55.16 a barrel.

Matrimony.com had a subdued listing today as the stock closed lower at Rs 901.20, down 8.5 percent from issue price of Rs 985 due to weak market condition. Losses also came in from Coal India, ONGC, SBI, PowerGrid, Asian Paints, which fell by up to 1.09 per cent. Tata Motors Hindustan Unilever, ICICI and Sun Pharma fell up to 2 per cent.

Private banks, which had outperformed other stocks in recent sessions, were among the top losers, while Dr. Reddy's Laboratories led gains in pharmaceutical companies, helped by easing regulatory concerns and brokerage upgrades.

In terms of the broader markets, the S&P BSE mid-cap index was lower by 0.07 per cent and the small-cap index by 0.14 per cent.

The BSE realty index was the biggest drag, down 2.28 per cent. Consumer durables, PSU and banking indices too weighed while healthcare and IT indices ended higher. Foreign portfolio investors (FPIs) sold shares worth Rs 1,185.44 crore yesterday, as per provisional data.

Continued buying by domestic institutional investors (DIIs) and fresh fund inflows by foreign investors, which had been on selling spree, bolstered the trading sentiment, traders said.

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