Markets continued to trade in deep trade in afternoon session amid soaring inflation concerns and fears of aggressive rate hikes by global central banks. Broader market indices plunged over 2% each, underperforming their large peers. Amid bearish market sentiment, index heavyweights such as HDFC Bank, Nestle India and Wipro touched new 52-week lows on S&P BSE Sensex. On the BSE, 2449 stocks fell, 734 stocks gained, while 113 stocks remained unchanged.

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Asian markets were trading mostly lower, with Hang Seng falling 481.21 points or 2.33% to 20,163.07, Nikkei 225 decreased 508.36 points or 1.89% to 26,402.84, Straits Times slipped 13.58 points or 0.42% to 3,211.77, Taiwan Weighted plunged 276.54 points or 1.7% to 16,020.32 and KOSPI was down by 33.65 points or 1.28% to 2,592.33. On the other side, Jakarta Composite surged 23.59 points or 0.35% to 6,817.00 and Shanghai Composite jumped 1.04 points or 0.03% to 3,087.02.

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The BSE Sensex is now trading at 52963.61, down by 1244.92 points or 2.30% after trading in a range of 52959.48 and 53356.04. On the index, 2 stocks advanced and 28 stocks declined.

The broader indices were trading in red with the BSE midcap index declining 2.44%, while the smallcap index was down by 2.03%. The top losing sectoral indices on the BSE were IT down by 4.32%, TECK down by 4.13%, Metal down by 3.97%, Telecom down by 2.71% and Basic Materials was down by 2.66%, while there were no gaining sectoral indices on the BSE.`

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The top gainers on the Sensex were ITC up by 2.72% and Dr Reddy’s Lab was up by 0.97%. On the other hand, Infosys was down by 4.84%, Wipro was down by 4.73%, HCL Tech was down by 4.69%, Tech Mahindra was down by 4.67% and Indusind Bank was down by 4.40% were the top losers.

The Nifty is presently trading at 15,861.10, down by 379.20 points or 2.33% after trading in a range of 15,860.25 and 15,984.75. On the index, 3 stocks advanced and 21 stocks declined.

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The top gainers on Nifty were ITC up by 2.66%, Dr Reddy’s Lab up by 1.05% and Eicher Motors was up by 0.18%. On the other hand, Infosys was down by 4.86%, Wipro down by 4.83%, Tech Mahindra down by 4.80%, and HCL Tech. down by 4.76% and JSW Steel was down by 4.55% were the top losers.