Nifty slips under 25,100, Sensex erases morning gains as investors book profits amid weak global cues

Domestic benchmarks Nifty 50 and Sensex fell to selling pressure in the afternoon session on Wednesday, October 8, as investors took some profits off the table following a four-day winning streak.

At 12:15 p.m., the Sensex was down 143.39 points or 0.18 percent at 81,783.36, and the Nifty was down 58.85 points or 0.23 percent at 25,049.45. About 1535 shares advanced, 2093 shares declined, and 130 shares unchanged.

All sectoral indices barring IT and consumer durables were in the red, with FMCG, auto, realty, and PSU banking stocks leading the losses. The broader markets saw a more intense fall, with the Nifty Smallcap 100 and Nifty Midcap 100 slipping half a percent each.

All three key Wall Street indices ended in negative territory after a consumer expectations survey from the New York Federal Reserve showed deteriorating future expectations and rising inflation projections. The report garnered increased scrutiny amid a federal data blackout resulting from a partisan congressional impasse that extended the government shutdown to its seventh day.