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Stock Market Updates: Sensex falls 282 points, Nifty slips below 15,700; banks and IT stocks drag

Kotak Mahindra Bank was the top Sensex loser shedding around 1 per cent, followed by L&T, Tata Steel, TCS, Axis Bank and ICICI Bank

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Equity benchmark Sensex settled 282.63 points or 0.54% lower at 52,306.08 amid profit booking. The Nifty 50 declined 85.80 points or 0.54% to end at 15,686.95.

Indian benchmark indices opened higher on positive global cues today. At 09:18 hours, the 30-share BSE index was trading 164.85 points or 0.31 per cent higher at 52,753.56, and the broader NSE Nifty was up 52 points or 0.33 per cent to 15,824.95.

However, the indices shed all early gains with bank and IT stocks bleeding the most.

Kotak Mahindra Bank was the top Sensex loser shedding around 1 per cent, followed by L&T, Tata Steel, TCS, Axis Bank and ICICI Bank.

Maruti Suzuki was the top Sensex gainer rising up to 2.33%.

Of 30 Sensex stocks, 23 ended in the red.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with gains, while Seoul was in the red.

Equities in Europe were largely trading with losses in mid-session deals.

Meanwhile, international oil benchmark Brent crude was trading 0.84 per cent higher at USD 75.44 per barrel.(With inputs from PTI)