Analysts expects these two export-oriented sectors to remain under pressure in the near term as the Fed rate-cut prospects diminish on hotter-than-expected inflation print
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In a turnaround on Friday, the Sensex snapped its three-day losing streak, propelled by a buy on dips approach and positive global cues. Earlier in the week, Indian benchmark indices fell sharply, primarily influenced by HDFC Bank s lack lustre quarterly results. On Wednesday, Sensex plummeted 1,628 points, while NSE Nifty plunged 460 points or 2.09% to close at 21,572. This was the the most significant percentage drop in the last 18 months.