A massive profit booking in IT, midcap, and small cap stocks forced the market to close in the red for the third consecutive session on Wednesday, as benchmarks fell more than 5%. Today's session saw intense selling pressure on the Nifty IT, with the Information Technology index falling 3.38 percent. Tata Consultancy Services (TCS) led the index's decline, closing 3.7 percent lower on Wednesday. Other IT stocks that finished in the red included Tech Mahindra, Wipro, Infosys, and HCL Tech.

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