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MARKET WRAP: Sensex ends 273 pts lower, Nifty at 10,671; PSU banks decline

Among sectoral indices, the Nifty PSU Bank index ended 2.4% lower led by a fall in the shares of IDBI Bank, Syndicate Bank and Bank of India.

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Representational Image

The markets ended lower on Wednesday due to a rise global crude oil prices and rupee hitting a 19-month low during the day, while traders turned cautious a day before the expiry of June derivatives contracts. The S&P BSE Sensex ended at 35,217, down 273 points while the broader Nifty50 index settled at 10,671, down 98 points. Among sectoral indices, the Nifty PSU Bank index ended 2.4% lower led by a fall in the shares of IDBI Bank, Syndicate Bank and Bank of India. Shares of public sector banks (PSBs) fell on concerns of stress in the banking sector after the Reserve ...