Sensex ends 413 pts lower and Nifty50 gives up 17,900 — rupee slides to 79.70 vs dollar

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Indian equity benchmarks BSE Sensex and NSE Nifty50 gave up intraday gains in a volatile session on Thursday, as financial, IT, pharma and consumer durable stocks weighed on the market. Globally, investors remained on the back foot after a red-hot US inflation reading dashed nascent hopes the Fed will turn less aggressive with hikes in key rates. Broader indices Nifty Midcap 100 and Nifty Smallcap 100 were a mixed bad, finishing 0.4 percent higher and flat respectively. Tamilnad Mercantile Bank shares made a tepid debut in the secondary market.

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