Following negative global cues, markets reversed yesterday's gains and lost over 1.5 percent. The US Federal Reserve's hawkish pronouncement dampened global mood, particularly in local markets. After a gap down start, the benchmark attempted to claw back some of its losses in the middle, but selling pressure in the second half brought the index to the day's low. Finally, the Nifty index fell 1.3 percent to 17,171 points. Most sectors indices ended in the red, following the trend, with metal, banking, and healthcare being the biggest losses.

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