Stock Market News Today: Nifty Slips To 25,110, Sensex Ends 350 Points Down; Tech Mahindra, IndusInd Bank Drag

Benchmark indices snapped their two-day gaining streak, the market ended on a mixed note across sectoral indices. Nifty closed at 25,111, about 0.40% down. Sensex closed 375 points lower at 82,259.

In the Nifty, Tech Mahindra and IndusInd Bank were the top losers. The Nifty IT sector emerged as the day's biggest losing sector, primarily dragged down by significant declines in LTIMindtree and Tech Mahindra. Nifty Financials also declined for the second consecutive day, and Nifty Bank snapped its three-day gaining streak. Furthermore, Nifty IT broke its two-day gaining streak.

Nifty Realty gained for the fourth consecutive day, with strong performance from Prestige Estates and Sobha. Nifty Energy also extended its gains for the fourth straight day. Nifty FMCG marked its fifth consecutive day of gains, led by Tata Consumer and Varun Beverages. Similarly, Nifty Auto gained for the fourth consecutive day, driven by Balkrishna Industries and Apollo Tyres. However, Nifty Oil & Gas snapped its two-day winning streak.

Rupee closed 13 paise lower at 86.07 against the US Dollar. It closed at 85.94 on Wednesday.

Source: Bloomberg

The shares of Polycab were trading lower after the company posted its fourth quarter results. This slip compares to the 0.26% decline in the Nifty 50.

Adani Enterprises to get Rs 7,150 crore from sale of 20% stake in AWL Agri Business to Wilmar. AWL Agri saw a surge in share price, while Adani Enterprises was also trading higher.

The names dragging the index below the 25,200 marks continue to be Tech Mahindra and IndusInd Bank among others. SBI Life along with Infosys was also trading in the red. Axis Bank also marked losses.

Tata Consumer, Tata Steel, Adani Enterprises and Hindalco were names trading in the green along with Trent.