CLOSING BELL: The Nifty IT index plunged 6 per cent on the NSE today after global brokerage JPMorgan downgraded the sector to "underweight".

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<b>CLOSING BELL<br />
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Stock market highlights:&nbsp;</b>Global markets roiled on Thursday, a day after Wall Street witnessed its worst one-say sell-off since June 2020. Back home, the S&P BSE Sensex crashed 1,416 points, or 2.6 per cent, to end at 52,792 on the BSE. The index hit an intra-day low of 52,669.5 earlier today.<br />
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	With this, investors became poorer by Rs 6.75 trillion in a day as market capitalisation of all the companies on the BSE tumbled from Rs 255.77 trillion to Rs 249.02 trillion.&nbsp;</div>
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	The NSE Nifty50, on the other hand, closed at 15,809 after it shed 431 points or 2.65 per cent, wiping off over Rs 3.5 trillion in m-cap. In the broader markets, the BSE MidCap index declined 2.6 per cent while the BSE SmallCap index fell 2.3 per cent.</div>
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	<strong>ALSO READ:<a href="https://www.business-standard.com/article/markets/sensex-crashes-1-100-points-6-factors-underlining-bearish-sentiment-122051900340_1.html?1652938865" target="_blank"> Six factors underlining bearish sentiment</a></strong></div>
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	Sectorally, all the indices drowned in losses. The Nifty IT index plunged 6 per cent on the NSE today after global brokerage JPMorgan downgraded the sector to &quot;underweight&quot;. <a href="https://www.business-standard.com/article/companies/jpmorgan-downgrades-india-s-it-sector-performance-as-pandemic-boom-fades-122051900615_1.html?1652953868" target="_blank"><strong>READ MORE</strong></a></div>
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	The Nifty Metal and Media indices were the other worst hit sectors as their respective indices sunk 4 per cent each. All other indices fell over 2 per cent each.</div>
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	<strong>MARKET SNAPSHOT: <a href="https://www.business-standard.com/markets-stocks" target="_blank">Check Thursday&#39;s top gainers and losers&nbsp;</a></strong></div>
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	<strong>Global markets</strong></div>
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	US Stock futures were lower in early morning trading on Thursday after the Dow Jones Industrial Average experienced its biggest one-day drop since 2020. Futures on the Dow Jones Industrial Average fell 469 points, or 1.4 per cent. S&P 500 futures dropped 1.6 per cent, and Nasdaq 100 futures slipped 1.8 per cent.</div>
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	In Europe, the pan-European Stoxx 600 fell 2 per cent by mid-morning. Among Asian indices, Nikkei fell 2 per cent; Kospi 1.3 per cent; Hang Seng 2.5 per cent; and ASX 200 1.6 per cent. China&#39;s Shanghai Composite was the only index in the green, up 0.4 per cent, as it eased Covid-19 related restrictions.</div>
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Investors poorer by Rs 7 trn as Sensex crashes 1,416pts; Nifty holds 15,800

Business Standard

Investors poorer by Rs 7 trn as Sensex crashes 1,416pts; Nifty holds 15,800 | News on Markets - Business Standard

Opening bell: Barring ITC, all Sensex stocks drown in red

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Opening bell: Sensex sheds over 950 points

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Opening bell: Nifty 50 opens below 16,000 levels

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Pre-open session: All Sensex stocks nosedive in red

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Pre-open session: Sensex bleeds over 1,100 points

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Pre-open session: Nifty 50 breaks below 16,000 levels

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Currency at open: Rupee opens 14 paise weaker at 77.72 vs dollar

F&O Ban: Delta Corp new addition in derivatives ban today

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	Stocks in F&amp;O ban today: Delta Corp, GNFC, PNB and Indiabulls Housing Finance.</div>
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		<img align="" alt="Between December 2020 and February 2021, traders were supposed to maintain at least 25 per cent of the peak margin" class="imgCont" height="464" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/10/full/1649610790-9703.jpg" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0; width:100%" title="equity market, stocks, share market" width="620" />
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Stocks on investors' watch today: ITC, Lupin, Ruchi Soya, Manappuram Finance, JSW, Biocon

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	Stocks to Watch: Ashok Leyland, Bosch, Chambal Fertilisers &amp; Chemicals, Container Corp, Dr Reddy&#39;s will be in focus ahead of their Q4 results today. <a href="https://www.business-standard.com/article/markets/stocks-to-watch-itc-lupin-ruchi-soya-manappuram-finance-jsw-biocon-122051900162_1.html" target="_blank"><strong>Read here</strong><br />
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	<img alt="stocks, markets, investors, growth, funds, investments, brokers" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-05/29/full/1622237659-8201.jpg?im=Resize,width=640" /></a></div>
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DII's stay positive: Buy shares worth Rs 376 crores Wednesday

FII outflows: Foreign investors sell Rs 1,255 crores of shares Wednesday

Oil prices recover from early losses as global supply fears linger

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	Oil prices rose on Thursday, recovering from early losses, as lingering fears over tight global supplies outweighed fears over slower economic growth as highlighted by slumping global shares. <a href="https://www.business-standard.com/article/international/oil-prices-recover-from-early-losses-as-global-supply-fears-linger-122051900167_1.html?1652930306" target="_blank"><strong>Read more</strong><br />
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UK inflation rate up 9% in 12 months; hits 40-yr high as energy bill soars

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	The ONS said the rise resulted in 12-month inflation rates of 53.5 per cent for electricity and 95.5 per cent for gas, compared with rates of 19.2 per cent and 28.3 per cent, respectively, in March. <a href="https://www.business-standard.com/article/international/uk-inflation-rate-up-9-in-12-months-hits-40-yr-high-as-energy-bill-soars-122051900124_1.html?1652930186" target="_blank"><strong>Read here</strong><br />
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	<img alt="UK inflation" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-04/13/full/1649852452-5742.jpg?im=Resize,width=640" /></a></div>

SGX Nifty sharply lower; Nifty likely to open with 250 pts-cut

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	<img align="left" alt="chart" class="imgCont" height="183" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/19/full/1652929973-0685.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="463" />
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		source: investing.com</div>
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Rupee closes 2 paise weaker against USD on Wednesday

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	<img align="left" alt="chart" class="imgCont" height="251" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/19/full/1652929796-0105.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="526" />
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		source: bloomberg</div>
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