Indian markets took a breather today, ending lower for the second straight session as investors paused after October’s sharp rally. Losses in financial and metal stocks dragged the benchmarks down.
The Sensex slipped 148 points to close at 83,311, while the Nifty ended below 25,550, down nearly 88 points.
Among key movers, Power Grid, Bajaj Finance, BEL, and ICICI Bank were the top laggards, each falling between 1% and 3%.
On the flip side, Reliance climbed 1.6%, snapping its four-day losing streak.
Grasim Industries was the biggest Nifty loser, tumbling over 6% after the CEO of its paints arm resigned to join Britannia. Rival Asian Paints, however, surged nearly 5% after Nomura upgraded it to buy.
Adani Enterprises extended its decline, slipping another 4.4% after a weak Q2 show.
Meanwhile, midcap and smallcap indices saw heavier selling, down 1% and 1.4%, respectively.
Market experts say volatility ruled the day, with profit booking seen across sectors despite strong cues from Asia. Foreign fund outflows and weak domestic PMI data also dampened sentiment.
Globally, European shares edged lower, even as Asian markets rebounded — Japan’s Nikkei up 1.4% and Hong Kong’s Hang Seng up 2.1%.
On the commodities front, Brent crude rose 1% to around $64 a barrel, while the rupee held steady at 88.61 per dollar.
That’s all for today’s market wrap.
This is Neha Vashishth, and you’re listening to ET Market Watch. Stay tuned for more updates and expert insights, only on The Economic Times.