Home Economy Market Wrap: Banks, IT stocks weigh on D-Street; Sensex skids 528 points, Nifty below 23,600
Market Wrap: Banks, IT stocks weigh on D-Street; Sensex skids 528 points, Nifty below 23,600
India's benchmark indices ended lower on Thursday, weighed down by financial and IT stocks amid foreign fund outflows. Investor caution ahead of December quarter earnings and concerns over limited US rate cuts fueled bearish sentiment. Nifty Financial Services fell 0.8%, Nifty Bank 0.6%, and Nifty PSU 1.2%. IT stocks dropped 1.2%, with Coforge and Wipro sliding 2.8% and 1.7%, respectively.
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