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Australian, Japanese and South Korean shares slumped. Equity-index futures for the S&P 500 and the tech-heavy Nasdaq 100 slipped in early Asian trading, extending a decline on Monday as Wall Street tempered bullish views while demand for recession havens boosted sovereign bonds. Treasuries advanced while a gauge of the dollar slipped.
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In the past one month, the stock has plunged over 15% while Bank Nifty fell 3.53% in the same period. ICICI Securities downgraded IndusInd Bank to 'reduce' from 'buy' and slashed the target price to 850 from 1,350.
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NSE's Nifty fell 92.2 points, or 0.4%, to close at 22,460. It made an intraday high of 22,676. BSE's Sensex declined 217 points or 0.3% to end at 74,115. Both the indices fell nearly 1% from the day's high.
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