Indian equity benchmarks pared early gains and came under
selling pressure in a choppy session on Wednesday, with the Sensex declining
185 points amid mixed trends from global markets. High crude oil prices and
foreign fund outflows also prompted the sell-off.

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The BSE Sensex fell 185.24 points or 0.33% to settle at
55,381.18. During the day, it plunged 474.98 points or 0.85% to 55,091.43 after
an initial rally. The NSE Nifty declined 61.80 points or 0.37% to settle at

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The broader indices ended mixed with the BSE Mid cap
index down by 0.10%, while Small cap index up by 0.62%. On the sectoral front, Capital
Goods was up by 0.75%, Industrials up by 0.70%, Metal up by 0.46%, Bankex up by
0.44% and PSU up by 0.38%, while Power down by 1.70%, Utilities down by 1.51%,
TECK down by 1.18%, Healthcare down by 1.16% and Realty down by 1.15% were the
top losing indices on BSE.

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Major laggards from the Sensex pack were Nestle India
down by 2.99%, Tech Mahindra down by 2.86%, Bajaj Finserv down by 2.63%, Sun
Pharma down by 2.40%, HCL Tech down by 2.10%, Hindustan Unilever down by 1.74%,
Power Grid Corp down by 1.70%, UltraTech Cement down by 1.69% and Infosys down
by 1.67%.

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Among the gainers were M&M up by 1.32%, HDFC up by
0.94%, Kotak Mahindra up by 0.90%, Tata Steel up by 0.70% and HDFC Bank up by

Asian market peers in Shanghai and Hong Kong ended lower,
while Tokyo settled in the green.

European stock exchanges were trading on a mixed note
during the afternoon trade. US stock markets had ended lower on Tuesday.

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Brent crude, the international oil benchmark jumped 1.49%
to USD 117.27 per barrel.

According to stock exchange data, foreign institutional
investors sold shares worth a net Rs 1,003.56 crore on Tuesday.