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A smart recovery towards the close of the session but it failed to push the index above 11500 levels on the Nifty. The Sensex did reclaim 38,000 while the Nifty closed above 11,450 levels on closing basis.
Rupee also saw some recovery in the second half of the session. The currency closed off record low at 71.75/$; down 12 percent in 2018 so far.
Rupee might have recovered but experts see the weakness to continue and the currency could well breach Rs 72-73/$ in the near term.
Last hour buying suggests that we could see a bounce back on Thursday if the global cues remains supportive; however, the bullish momentum will continue above 11,620 levels.
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