Markets remained in negative territory, with significant losses, as market investors continued to book profits in the absence of any bullish catalyst. The Sensex was trading below the psychological barrier of 54,600 at the day’s low, while the Nifty was trading below the 16,300 mark. Traders were cautious ahead of the release of US inflation data later in the day.

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Asian markets were trading mostly in red with Taiwan Weighted dropping 161.22 points or 0.97% to 16,460.12, KOSPI fell 27.59 points or 1.05% to 2,597.85, Straits Times trembled 27.14 points or 0.85% to 3,182.48, Jakarta Composite lost 65.27 points or 0.91% to 7,117.56 and Nikkei 225 was down by 422.24 points or 1.49% to 27,824.29. On the flip side, Hang Seng increased by 39.63 points or 0.18% to 21,908.68 and Shanghai Composite was up by 40.41 points or 1.25% to 3,279.36.

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The Sensex is now at 54,508.10, down 812.18 points or 1.47% after trading between 54,423.98 and 54,780.78. On the index, there were 8 stocks that advanced and 22 stocks that declined.

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The broader indices were trading in red; the BSE Mid cap index was down by 0.57%, while the Small cap index was down by 0.49%. The only gaining sectoral indices on the BSE were Telecom up by 0.41% and Consumer Durables up by 0.13%, while IT was down by 1.77%, TECK down by 1.50%, Energy down by 1.46%, Oil & Gas down by 1.45% and Bankex was down by 1.41% were the top losing indices on BSE.

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The top gainers on the Sensex were Asian Paints up by 1.27%, Ultratech Cement up by 0.67%, Titan Co up by 0.57%, Power Grid up by 0.24% and Dr Reddy’s Lab was up by 0.10%. On the flip side, Bajaj Finance was down by 3.36%, Kotak Mahindra Bank down by 3.30%, HDFC down by 2.96%, Wipro down by 2.76% and Tech Mahindra was down by 2.49% were the top losers.

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The Nifty is presently trading at 16,254.20, down 223.90 points or 1.36% after ranging between 16,227.35 and 16,324.70. On the index, 13 stocks advanced while 36 declined, and 1 stock remained unchanged.

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The top gainers on Nifty were Asian Paints up by 1.20%, Grasim Industries up by 1.13%, Ultratech Cement up by 0.82%, Tata Consumer Products up by 0.54% and Titan Co was up by 0.48%. On the flip side, Bajaj Finance was down by 3.38%, Kotak Mahindra Bank down by 3.28%, Hindalco down by 3.00%, HDFC down by 2.98% and Wipro was down by 2.74% were the top losers.