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

ITC in focus: PAT up 11.6% in Q4 at Rs 4,259.68 cr, beats analysts' estimates

ITC, the cigarettes-to-hotels major, reported on Wednesday an 11.60 per cent year-on-year (YoY) increase in consolidated profit after tax (PAT) at Rs 4,259.68 crore in the March quarter (Q4) led by growth across segments. In the year-ago period, PAT was at Rs 3,816.84 crore.<a href="https://www.business-standard.com/article/companies/itc-pat-up-11-6-at-in-q4-at-rs-4-259-68-cr-beats-analysts-estimates-122051801508_1.html" target="_blank"><strong>Read here</strong><br />
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<img alt="ITC" src="https://bsmedia.business-standard.com/_media/bs/img/article/2021-06/01/full/1622554765-4533.jpg?im=Resize,width=640" /></a>

Brent, WTI crude gain up to 1% to trade at $110 a barrel each

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	<img align="left" alt="chart" class="imgCont" height="154" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/19/full/1652929477-0181.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="323" />
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		Source: oilprice.com</div>
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US market slump comes on weak earnings from retailer Target

Target closed down 25% in biggest one-day decline since 1987

US equity futures trade flat after sharp losses in spot market

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	<img align="left" alt="chart" class="imgCont" height="98" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/19/full/1652929195-5985.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="540" />
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		source: finance.yahoo.com</div>
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Asian markets plunge in early deals tracking losses in US

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	<img align="left" alt="chart" class="imgCont" height="205" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/19/full/1652929049-7646.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="508" />
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		source: finance.yahoo.com</div>
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Wall Street logs worst fall in two years; Nasdaq slumps 4.7%

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	<img align="left" alt="chart" class="imgCont" height="290" src="https://bsmedia.business-standard.com/_media/bs/img/article/2022-05/19/full/1652928799-8855.PNG" style="border: 1px solid #DDD; margin-right: 10px; padding: 1px; float: left; z-index: 0;" title="chart" width="592" />
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		Source: Reuters</div>
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