MARKET: Sensex off lows, down 500 pts; Nifty tests 17,900; IT index down 3%

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Domestic equity traded in negative territory amid weak global cues on Wednesday, however, trimmed opening losses supported by fresh bets in heavyweights like ITC, Maruti Suzuki, and Asian Paints.

Frontline indices Nifty50 declined over 100 points to trade below 17,950 levels, whereas the S&P Sensex slumped over 500 points to trade at 60,051 levels.


Broader markets, too, traded feebly as Nifty Smallcap 100 and Nifty Midcap 100 slipped over 0.5 per cent.

Barring Nifty Media, which defied the dull market mood, all sectors nosedived in negative territory, with Nifty IT, Nifty Realty, and Nifty Metal indices bearing the brunt of the brutal selloff.

Among individual stocks, shares of State Bank of India (SBI) hit Rs 5-trillion-mark in market capitalisation for the first time on Wednesday. READ MORE

Besides, shares of Ambuja Cements hit fresh 52-week high of Rs 498 per share after the company planned to mull fund raise on Friday, September 16. READ MORE

 

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