Equity benchmark indices Sensex and Nifty dipped nearly
1% on Wednesday on profit-booking in financial and IT stocks after a recent
surge.

The BSE Sensex plummeted 537.22 points or 0.94% to end at
56,819.39. During the day, it slipped 772.57 points or 1.34% to 56,584.04. BSE
midcap and smallcap indices were 0.5% down each. The NSE Nifty tumbled 162.40
points or 0.94 points to 17,038.40.

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On the sectoral front, bank, oil & gas and power
indices were down a percent each.

Major laggards from the 30-share pack include Bajaj
Finance down by 7.24%, Bajaj Finserv down by 3.88%, ICICI Bank down by 2.21%,
Titan down by 2.19%, Dr Reddy’s down by 1.94%, Wipro down by 1.91%, State Bank
of India down by 1.78%, Infosys down by 1.68%, Maruti down by 1.46% and UltraTech
Cement down by 1.63%.

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Among the gainers were Tata Steel up by 1.05%, Asian
Paints up by 0.72%, HCL Technologies up by 0.17%, TCS up by 0.47%, Reliance
Industries up by 0.08% and HDFC Bank up by 0.2%.

The rupee rebounded early losses and settled almost flat at 76.55 against the US dollar.

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Asian market peers in Tokyo and Seoul settles over 1%
down, while Hong Kong and Shanghai settled with gains.

European markets were trading in the green during the
afternoon session.

US stocks settled with significant losses on Tuesday.

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The international benchmark for crude oil, Brent crude
surged 0.89% to USD 105.81 per barrel.

According to stock exchange data, foreign institutional
investors continued their selling spree, offloading shares worth Rs 1,174.05
crore on Tuesday.