Equity benchmarks cut losses in late trade on short covering, may be after SAT has stayed SEBI order on J Kumar Infra and Prakash Industries and hence the trading in those stocks will be resumed.The 30-share BSE Sensex was down 266.51 points at 31,531.33 and 50-share NSE Nifty fell 87.80 points to 9,820.25.
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