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The Indian stock market witnessed a freefall on Wednesday afternoon, with the BSE Sensex losing over 1,000 points.
Around 2.45 p.m., Sensex was at 47,310.81, lower by 1,036.78 or 2.14 per cent from its previous close.
The Nifty50 also fell below the psychological 14,000-mark.
It was trading at 13,944.25, lower by 294.65 points or 2.07 per cent from its previous close.
Heavy selling pressure was witnessed across sectors, led by banking, finance and oil and gas stocks.
Weak global cues, selling by FIIs and mixed Q3 earnings lead to the bear run in the market.