The BSE Sensex fell 114 points to close at 75,201, while the NSE Nifty50 declined 32 points to settle at 23,618. Markets had traded firmly higher earlier in the session before witnessing profit booking in heavyweight financial names during the latter half of trade.
The Nifty Bank index ended 128 points lower at 53,409 after slipping nearly 355 points from intraday highs, with Kotak Mahindra Bank, HDFC Bank and ICICI Bank emerging among the top drags on the benchmark indices.
Despite weakness in frontline indices, broader markets remained strong. The Nifty Midcap index rose 548 points to close at 61,022, while market breadth favoured advances, reflecting sustained investor interest beyond large-cap stocks.
Information technology shares extended gains for a second straight session, with the Nifty IT index surging 6% over the last two trading days. Infosys, HCLTech and Tech Mahindra were among the top gainers on the Nifty50.
Among individual stocks, Tata Motors gained another 2% as investors continued to track commentary around Jaguar Land Rover’s outlook. Capital market-related stocks also remained in focus, with Angel One jumping 8%.
Coforge rose 5% after CLSA identified the company as one of the biggest beneficiaries of the artificial intelligence investment cycle.
Cooling-related stocks such as Voltas and Blue Star also advanced amid expectations of rising seasonal demand for air-conditioners, while oil marketing companies gained after fuel price hikes, with HPCL climbing over 3%.
On the downside, Astral slipped 7% after reporting quarterly earnings below market expectations.
