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Sensex, Nifty end lower in volatile trade; oil marketers drag


(Reuters) - Indian shares wiped off early gains to end lower in a topsy-turvy trade on Wednesday, dragged by oil marketers, a day after the retail came below the Reserve Bank of India's target for a sixth straight month.

Annual retail in January rose 2.05 percent, its slowest pace since June 2017, strengthening the possibility of a key interest rate cut by the in April.

However, analysts predict Nifty to be rangebound till the due by May, with Geojit Financial Services' expecting the index to trade between 10,550 and 11,000.

The benchmark Sensex closed down for a fifth session, ending 0.33 percent lower at 36,034.11, while the broader Nifty ended 0.35 percent lower at 10,793.65, losing 2.5 percent in four sessions.

companies Hindustan Petroleum Corp Ltd, and closed 3.8 percent, 3.6 percent and 2.9 percent lower, respectively.

(Reporting By in Bengaluru; Editing by Rashmi Aich)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, February 13 2019. 15:58 IST