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European shares slipped on Thursday as an intensifying conflict in the Middle East ‌sapped ⁠risk appetite while ⁠markets awaited the European Central Bank’s monetary policy ​verdict.
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Foreign selling in Indian equities surged in the first ​half of March, led by ​financials, marking the heaviest fortnightly selling in 17 months and ​dragging the Nifty 50 to its worst fortnight since the COVID-19-led rout in March 2020.
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​Auto stocks led the market decline as the Nifty plunged 600 points, with the sector falling up to 4% amid rising crude oil prices and Fed-driven macro concerns. Weak sentiment was compounded by geopolitical tensions, while banks and IT also dragged indices lower despite broader sectoral pressure.
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Shares of HDFC Bank slumped nearly 9% after part-time Chairman Atanu Chakraborty resigned, citing value misalignment, prompting interim replacement Keki Mistry. The selloff marks the fifth 8%-plus single-day crash since 2020, even as the RBI flagged no governance concerns.
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