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The Indian market reversed its Tuesday rally and Nifty closed slightly below the psychological price anchor of 25000. Despite opening on an optimistic note, fueled by the RBI's potential rate cuts, the initial euphoria proved fleeting. Heavyweights like Reliance Industries, HDFC Bank, and ITC pulled the indices lower. While FMCG and energy stocks weighed on the market, the banking, IT, and auto sectors provided some support.

The IT index rose 0.7%, marking its fourth consecutive session of gains, and the auto index also saw an uptick of nearly 1%. This sector-specific optimism is potentially fueled by the "stories, news, facts" - optimism from US labor market data. Tata Motors, Maruti Suzuki and Exide Industries were the leaders in auto index.

The last trading session serves as a potent reminder that the Indian market, much like individual traders, is susceptible to emotional currents.

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