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The NIFTY 50 slipped below the crucial 23,900 mark and was trading at 23,871.20.
NIFTY 50 dropped below 23,900, marking a sharp decline amid broader market selloff.
KEY POINTS
- Prime Minister Modi’s call to reduce fuel, gold, and edible oil consumption triggered demand concerns.
- Nifty Consumer Durables index plunged nearly 4%, led by a 7.7% fall in Titan Company.
- Analysts interpret Modi’s comments as reflecting government worries about the import bill and current account deficit.
- Heavyweight financial stocks like SBI, HDFC Bank, and Axis Bank faced sustained selling pressure.
COMPANIES
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