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Sensex slips for 3rd day, ends 237 pts down; HDFC duo top drags, ITC up 2%

CLOSING BELL: HDFC, HDFC Bank, Maruti Suzuki, Dr Reddy's Labs, Tata Motors, PowerGrid, Asian Paints, Bajaj Finserv, Kotak Bank, Titan, Cipla, and Eicher Motors were the top laggards on the Nifty index

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SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Sensex
(Photo: Bloomberg)
CLOSING BELL

Bear-hammering continued on for a third straight day on Wednesday as profit booking in banks and financial stocks weighed on the sentiment. The S&P closed at 58,339 levels today, down 237 points or 0.4 per cent, while the shut shop at 17,476, down 55 points or 0.31 per cent. In the intra-day deals, the benchmark indices had hit lows of 58,291 and 17,457 levels, respectively.

HDFC, HDFC Bank, Maruti Suzuki, Dr Reddy's Labs, Tata Motors, PowerGrid, Asian Paints, Bajaj Finserv, Kotak Bank, Titan, Cipla, and Eicher Motors were the top laggards on the index today, down between 1 and 2 per cent. On the upside, ONGC, Apollo Hospitals, Sun Pharma, ITC, UPL, JSW Steel, and Shree Cement added in the range of 1 to 3 per cent.

Meanwhile, in the broader market, the MidCap index slipped 0.21 per cent but the SmallCap index added 0.27 per cent.

Among sectors, the Private Bank index was the worst hit as it dipped 1 per cent. On the upside, the Nifty Metal index gained the most, rising 0.57 per cent. 

Global cues
European were mixed on Wednesday as investors digested a key inflation print from the US and looked ahead to Thursday's European Central Bank meeting. The pan-European Stoxx 600 slipped fractionally below the flatline in early trade, with retail stocks shedding 1.3 per cent while oil and gas gained 1 per cent.

On Wall Street, the futures linked to the three main indices were up between 0.35 and 0.6 per cent.

In Asia, Japan's Nikkei climbed nearly 2 per cent while China's Shanghai Composite dipped about a per cent.  

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