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Market falls today after IMF cuts global growth outlook

Stocks markets faced heavy selling pressure today at the end hours of trade, resulting into index heavy fall by Sensex at 38,585.35 down 354-pts and broader Nifty ended lower at 11584-level down 87-pts.

Financial sector stocks contributed to the index fall above 50% of the losses, as investor risk hunger suffered on weak cues, post IMF lowered its outlook on global economic growth.

Heavy weights stocks like HDFC Bank and HDFC Ltd dragged the NSE Nifty lower after closing down 1.9% and 2.2%, in sequence.  IT major TCS closed 2.3% lower, and Infosys slipped 1.2% as among the top losers.