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The Nifty experienced a decline of 183 points, closing near the 22,700 level, and formed a "dark cloud cover" candlestick pattern, a bearish signal. The Indian market saw its worst session in nearly three weeks on Wednesday, dragged down by losses in heavyweight financials and IT stocks.
Stocks to watch: Shares of firms like TCS, ONGC, Nestle, SAIL, Delhivery, Bandhan Bank, Lupin, and others will be in focus on Tuesday's trade.
CLSA downgraded Delhivery to underperform, Jefferies raised Zydus Life target, and Anupam Rasayan had balance sheet concerns. Citigroup recommended buying Phonix Mills.
Benchmark equity indices recovered to close flat on Tuesday, with gains in metal stocks offsetting declines in other sectors following top consumer China's property-support measures.
BHEL, Metropolis Healthcare, Aether Industries, Eris Lifesciences, GPT Healthcare, Greenply Industries, GSFC, IRCON International, JK Tyre, Laxmi Organic Industries, and PI Industries will release March quarter earnings on May 21.