Stock Market Closing: Nifty ends near 17,000, Sensex drops over 500 points; banking, financial, consumer durable stocks top laggards

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After gaining nearly one and half per cent in the previous session, the Indian market closed on a negative note on Wednesday. Benchmarks Nifty50 and S&P BSE Sensex closed nearly 1% lower amid weak global cues. The broader Nifty50 closed around 17,000-mark, while the Sensex declined by over 500 points as banking and financial stocks dragged the headline indices. The 12-share Bank Nifty dipped by more than 350 points as the banking index closed near 36,000.  

Following the benchmarks, Nifty midcap and small cap indices closed lower by around 0.9% and 0.6% respectively in the broader market.  

Among sectoral indices, Nifty Bank, financial services and consumer durables declined the most as all indices slipped in the red.  

Among Stocks, Her MotoCorp, Tata Steel, Asian Paints, TCS, Divis Laboratories, HCL Tech and Kotak Bank were among top gainers, while Bajaj twins, Shree Cements, Tata Consumers, Adani Ports, ICICI Bank, Titan and Wipro fell the most in a weak market.