Nifty gives up 26,000, Sensex erases day's gains while most sectors settle in the red

After a muted session, the benchmark indices Nifty 50 and Sensex saw a sell-off in the last hour of trade on November 24, kicking the week off on a muted note. All sectors barring the IT index closed with losses, while the broader markets also settled lower.

At close, the Sensex was down 331.21 points or 0.39 percent at 84,900.71, and the Nifty was down 108.65 points or 0.42 percent at 25,959.50. About 1175 shares advanced, 2900 shares declined, and 177 shares unchanged.

Most sectoral indices traded in the red, reflecting broad market weakness, with Nifty Realty leading the decline at over 2 percent. Metal, Consumer Durables, Oil and Gas, Healthcare, FMCG and Media also saw notable losses. Financials, Private Banks and Pharma slipped marginally, while PSU Banks were nearly flat. The lone outperformer was Nifty IT, which managed to post a small gain, offering some support to the otherwise subdued sectoral landscape.

"After a range-bound positive session, the market closed with a decline in the last half hour, led by Monday expiry, as Nifty50 indices could not survive above the key threshold of 26,000. Investor sentiment remained cautious, in anticipation of key event risk like delays in finalizing the interim US-India trade agreement. Nonetheless, selective buying in IT stocks offered some support.