CLOSING BELL: Among sectors, the Nifty Metal, and PSU Bank indices dipped 2 per cent each, while the Nifty Pharma index gained 0.6 per cent

Sensex falls 509 pts, Nifty near 16,800; RIL, ITC shed 3%, pharma stocks up

<b>CLOSING BELL<br />
<br />
Stock market highlights:&nbsp;</b>The bear-party, which started with the US Federal Reserve (US Fed) hiking rates by 75 basis points last week, continued for a sixth straight day on Dalal Street on Wednesday. The S&P BSE Sensex fell 509 points to close at 56,598, while the Nifty50 ended 149 points lower at 16,859. Both the frontline indices fell 0.89 per cent each.<br />
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	Axis Bank, ITC, Reliance Industries, HDFC twins, Bajaj Finserv, IndusInd Bank, Tata Steel, and SBI were the top large-cap losers, while Sun Pharma, Power Grid, Asian Paints, Dr Reddy&#39;s Labs, M&M, and Tech M climbed on the bourses.&nbsp;<br />
	<br />
	In the broader markets, the BSE MidCap, and SmallCap indices lost 0.4 per cent each. Among sectors, the Nifty Metal, and PSU Bank indices dipped 2 per cent each, while the Nifty Pharma index gained 0.6 per cent.<br />
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	<strong>Taking stock :: ITC&#39;s rally to end?</strong></div>
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	ITC has been one of the best performing large-cap stock at the bourses thus far in calendar year 2022 (CY22), rallying nearly 52 per cent during this period and outperforming the sector benchmark &ndash; the S&P BSE FMCG index &ndash; by a wide margin that moved up around 17 per cent during this period. <a href="https://www.business-standard.com/article/markets/after-over-50-rise-in-2022-is-the-stupendous-rally-in-itc-fizzling-out-122092800516_1.html" target="_blank"><strong>READ MORE</strong></a><br />
	<br />
	<strong>Sector analysis :: IT stocks</strong></div>
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	Rising concerns of a potential global recession, which investors fear can dampen demand for the export-facing domestic IT giants, has sent the index down over 30 per cent on a year-to-date basis. <a href="https://www.business-standard.com/article/markets/are-it-stocks-a-good-contrarian-bet-from-a-one-year-perspective-122092800476_1.html" target="_blank"><strong>READ MORE</strong></a></div>
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STOCK MARKET LIVE: Sensex, Nifty, SGX Nifty, RBI MPC meet, NDTV, Torrent Pharma

Business Standard

STOCK MARKET LIVE: Sensex, Nifty, SGX Nifty, RBI MPC meet, NDTV, Torrent Pharma | News on Markets - Business Standard

FIIs sell equities worth Rs 2,823 crore on September 27

Gap down open for markets; SGX Nifty down 180 points

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Asia-Pacific markets weak in trade: Hang Seng, Nikkei 225 slip 2%

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US markets trade mixed on Tuesday: Dow Jones down 100pts

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Good morning readers! Catch all the live market updates here with Business Standard

Good morning readers! Catch all the live market updates here with Business Standard&nbsp;

Sensex falls 509 pts, Nifty near 16,850; RIL, ITC shed 3%, pharma stocks up