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Closing bell: Volatile trade led to Sensex diving nearly 300 points down

Amidst negative sentiments from global market and foreign fund outflows, the Sensex fell for the fifth straight session on Monday to close at almost one-month low of 31,626.63 by plunging about 296 points, while the Nifty dropped below the 9,900 mark.

Currency market was also hit with the rupee falling by 15 paise to 64.94 against the US currency during the day. In addition, soaring oil prices, trading at seven-month high of $56.86 a barrel overseas, impacted the sentiment here, brokers said. Persistent concerns about US-North Korea verbal spat, and absence of any market-moving event weighed on sentiment, brokers said.

Bargain buying in the last hour of the trade helped Sensex recoup part of lost grinds to settle at 31,626.63, down 295.81 points, or 0.93%. The index had fallen 501.32 points in the previous four sessions. The NSE Nifty tumbled 91.80 points, or 0.92%, to close at 9,872.60 after shuttling between 9,816.05 and 9,960.50. Both the key indices closed at their lowest closing since August 29.

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