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Indian equities closed lower as Sensex and Nifty retreated from record-adjacent levels, dragged by Reliance Industries and HDFC Bank amid profit booking. Analysts expect a range-bound market, with global uncertainties and Q3 earnings guiding near-term direction and sectoral rotation risks.
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US Federal Reserve Governor Stephen Miran said Tuesday he saw the need for a significant drop in interest rates in 2026, advocating for a larger decline than the central bank has so far signaled.
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Nifty declined for a second straight session, dragged by energy stocks and Reliance Industries. Analysts see near-term consolidation, with support near 26,000 and upside potential emerging only if the index decisively crosses 26,300.
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