Sensex declines over 500 pts, Nifty below 25,850 as IT selloff intensifies

Indian benchmark indices Sensex and Nifty traded lower on Thursday, impacted by a sharp selloff in IT stocks and investor caution following stronger-than-expected U.S. jobs data. This data dampened hopes of near-term Federal Reserve rate cuts, while domestic market support is expected from earnings growth in other sectors.

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