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The market was choppy in Tuesday's trade before closing on a flat note. The Sensex finished at 31103, gaining 8 points. The Nifty closed at 9606 down by 9 points. The Market turned volatile towards close because caution prevailed ahead of the FOMC policy outcome On Wednesday, where the consensus showed 25bps rate hike. Back home, effect of deflation persisted on benign CPI inflation as the pressure of demonetization continued to weigh on the purchasing power. We expect better monsoon will cool off the impact of deflation with better consumption story.