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Today's Market: Markets Close with 1% Losses - Indian Stock Market News
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Markets Close with 1% Losses 
(Fri, 17 Apr Closing) 
 
Indian markets witnessed a volatile session today as major IT stocks tanked over concerns about quarterly results not meeting investor expectations. Markets opened on a weak note but the sell-off kick started as investors shunned IT and healthcare stocks. Healthcare stocks fell as much as 3% while IT stocks fell nearly 2% amidst today's sell-off. BSE Sensex finished today's day with losses of over 220 points while NSE-Nifty lost 100 points during today's trade. Metals stocks managed to garner 1.1% gain during today's volatile session. BSE Mid Cap and BSE Small Cap indices underperformed the market as smallcap stocks fell about 1.5% while midcap stocks fell about 2%.

Commodities gained traction as investors looked towards the precious metals shunning equities. Gold prices, per 10 grams, increased 0.5% or Rs 125 while silver prices have gained 0.7% or Rs 249. Gold prices are available at Rs 26,770 levels while silver prices are available at Rs 36,730 levels. Crude oil continued to trade in the red with losses of 1.6% or Rs 60. Per barrel, the crude oil traded near Rs 3,500.The value of the Indian Rupee gained marginally by 0.06% or 0.04 and is available at Rs 62.34.

The European stocks are trading with losses of over 1.5% as investors booked profits. Major economic data of the Euro zone area came in as per expectations. The Consumer Price Index MoM and YoY came in at 1.1% and 0.1%, respectively. The German DAX, French CAC and the British FTSE are trading with losses of 1.7%, 1.3% and 0.7%, respectively. The value of Indian Rupee increased 0.6% or 0.38 and is available at Rs 67.43 against the Euro currency.

Shares of the rating agency CRISIL declined over 7% after the company reported financials that did not please investors. The consolidated profit for the first quarter declined 20.4% to Rs 0.56 bn. The decline in the profits is attributable to low revenue and weak operational performance. Sales of the company slid 5.8% to Rs 3.1 bn while EBITDA slipped 15.8% to Rs 0.86 bn. The company had declared an interim dividend of Rs 4 per equity share.

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