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Early gains not held on BSE

MUMBAI: The Sensex pared the gains posted in early trading and ended almost flat on Tuesday as selling pressure emerged following reports of weakness in European markets. Meanwhile, the public offer of state-run power sector lender Rural Electrification Corporation was oversubscribed by 1.62 times at 1100 hrs and, according to marketmen, it had a sentimental impact on markets during afternoon trade.

The Bombay Stock Exchange benchmark Sensex settled at 18075.66 against the close of 18048 on Monday. It touched an intra-day high of 18314.10. Crediting the initial rally to strong Asian cues, marketmen said the sluggish trend in European markets fuelled selling pressure in the wake of lingering credit crisis jitters in the afternoon trading. Analysts said markets are in a consolidation mode. — PTI

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