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The market reacted to weak global cues and opened sharply lower, but immediately showed strong recovery in morning itself and traded rangebound in rest of session. The benchmark indices closed flat as traders remained cautious ahead of FOMC meet and US inflation numbers.

The BSE Sensex fell more than 50 points to 62,130, and the Nifty ended almost flat at 18,497, but formed bullish candle on the daily charts as the closing was higher than opening levels, with taking support at 18,300-18,400 levels.

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