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The S&P BSE Sensex slipped over 150 points tracking weak cues from other Asian markets on Wednesday, led by losses in ITCBSE -1.71 %, SBI, ICICI Bank BSE -1.24 %, L&T, and RIL BSE -0.86 %.The Nifty50 was trading below its crucial level of 7000, weighed down by losses in power, oil & gas, metal, consumer durable, capital goods, banks, and auto stocks.

The NSE Nifty fell 1.6 percent on Tuesday, posting its first drop in three sessions, as investors booked profits in banks and capital goods stocks, while sentiment was also hit after exports shrank in January for a 14th straight month.