After a better opening at 31,216.36, the Sensex quickly slipped into the negative zone and hit a low of 31,081.83 in morning session as foreign funds continued to withdraw capital.
Emergence of value-buying in afternoon trade wiped off early losses and the Sensex settled higher by 122.67 points, or 0.39 per cent, at 31,282.48. During the day, it also touched a high of 31,340.91.
The 50-share NSE Nifty ended up 33.20 points, or 0.34 per cent, at 9,768.95 points. Intra-day, it shuttled between 9,687.55 and 9,789.20.
In the September expiry, Sensex plunged by 448.01 points, or 1.41 per cent and Nifty tumbled 202.95 points, or 2.03 per cent.
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A mixed trend in Asia and a higher opening in Europe after the US stocks recovered following sweeping tax reforms plan unveiled by President Donald Trump influenced sentiment here.
The rupee appreciated 22 paise intra-day against the dollar, to 65.50, which had a positive influence too, brokers said.
The 30-scrip gauge had lost 1,263.95 points in the previous seven sessions largely dragged down by sustained foreign fund outflows and falling rupee concerns.
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