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Benchmark indices retreat as banking stocks weigh on sentiment
Indian markets declined sharply as banking stocks dragged indices lower, with investors remaining cautious amid valuation concerns and mixed global market cues.
Indian equity markets closed lower as selling pressure intensified in heavyweight banking stocks, dragging benchmark indices into negative territory. The Sensex declined by over 600 points to slip below the 25,700 mark, while the Nifty also traded weak. Market participants cited concerns around valuations, profit booking, and mixed global cues as reasons for the decline.