Stock Market Closing Bell: Sensex slips over 500 points, Nifty ends below 25,650 as metals, defence stocks drag

Stock Market Closing Bell: Indian equity benchmarks traded lower on Thursday as selling pressure in auto, metal and defence-related stocks weighed on investor sentiment, even as global cues remained mixed.

At the close, the BSE Sensex settled at 83,313.93, down 503.76 points, or 0.60 per cent. The NSE Nifty 50 ended at 25,642.8, declining 133.20 points, or 0.52 per cent.

Weakness was more pronounced in the broader market, with the Nifty Midcap 100 down 0.46 per cent, while the Nifty Smallcap 100 index fell 1.56 per cent, reflecting risk-off sentiment among investors.

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Sectorally, barring PSU banks, all indices were trading in the red. Nifty Metal emerged as the top laggard, declining 1.80 per cent. Pharma, auto, financials and realty stocks also traded lower, shedding up to 0.9 per cent during the session. Defence and capital market stocks, which have seen sharp rallies in recent months, also witnessed profit-taking.

On the policy front, Commerce and Industry Minister Piyush Goyal said India and the US are likely to conclude and sign a joint statement on the first phase of their bilateral trade agreement within the next four to five days. He added that the US would subsequently issue an executive order to cut tariffs on India to 18 per cent, offering some support to sentiment.

Among Sensex constituents, Eternal, Bharti Airtel, Kotak Mahindra Bank, Bharat Electronics and IndiGo were among the top losers, falling up to 3 per cent. In contrast, Trent, Tata Steel, State Bank of India, Mahindra & Mahindra and Bajaj Finance bucked the broader trend, gaining as much as 2.5 per cent.

Market participants said investors remained cautious amid sector-specific selling and ahead of further clarity on global trade developments.