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Sensex slips over 400 points, Nifty falls below 25,550 mark

Business

Indian stock markets slipped on Thursday after a promising start, with both Sensex and Nifty losing ground by midday.
The Sensex swung from an early high of 83,836 to fall over 400 points, while the Nifty dropped below 25,550.
This dip came as the US dollar hit a near five-month high, making things more expensive for importers and adding pressure on stocks.

Factors contributing to market's decline

A mix of steady selling by foreign investors—who pulled out over ₹1,000 crore just on Tuesday—and profit booking in sectors like banking and metals pushed markets down.
Plus, the expiry of weekly derivatives contracts made things extra volatile as traders rushed to adjust their positions.
All in all, it was a tough day for anyone hoping for smooth sailing in the markets.