Sensex, Nifty end flat, Rupee closes at record low

The Sensex and Nifty pared most of the losses on Monday to end flat following reports the country may soon abolish export tax on key steel products to revive demand lifted metals stocks, offsetting a selloff in technology companies on demand worries.

Meanwhile, the rupee ended at a record closing low against the dollar on Monday as continued foreign portfolio outflows from domestic stockmarkets and a broadly stronger greenback weighed on the currency despite intermittent dollar selling intervention.

The partially convertible rupee closed trading at 79.4375/4475 per dollar, compared to its close of 79.25 on Friday. The unit touched a lifetime low of 79.44 during the session, surpassing its previous low of 79.3750 touched last week.