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Sensex drops 693 pts, Nifty ends below 24,150; HDFC Bank drops 3.5%
Domestic stocks tanked today, dragged lower by banks and financials. Weak IIP data, continued FII selling, and overvalued equities exacerbated losses. HDFC Bank declined after a softer-than-expected inflow due to a staggered MSCI index adjustment. While defensive sectors like consumer goods and healthcare showed resilience, overall market sentiment remains fragile ahead of crucial U.S. inflation data.