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Sensex snaps 3-day rally, dips 130 points despite RBI rate cut

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Equity benchmark index Sensex erased early sharp gains to close lower by 131 points on Friday, snapping its three-day rising streak as concerns over an impending recession heightened after the RBI said the projected annual growth was at risk due to the COVID-19 outbreak. After opening significantly higher, the 30-share BSE barometer gave up all the gains to end 131.18 points or 0.44 per cent lower at 29,815.59. It hit a high of 31,126.03 and a low of 29,346.99 in day trade. On the other hand, the broad-based NSE Nifty closed 18.80 points, or 0.22 per cent, higher at 8,660.25.

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