Sensex, Nifty end lower today after choppy trade today, give up morning gains; metals drag, FMCG and IT lend support

Indian equity benchmarks slipped for a third straight session on Thursday, weighed down by a sell-off in metal stocks and select financials, even as strength in FMCG, IT, and auto stocks helped cushion the fall. Expiry-day volatility and sustained foreign fund outflows kept investor sentiment muted through the day. At close today, BSE Sensex was down 148 points or 0.2 percent at 83,311, while NSE Nifty declined 88 points or 0.3 percent to 25,510. The market breadth remained weak, with 2,855 stocks declining against 1,174 advancing on the NSE.

Broader markets underperformed. The Nifty Midcap 100 fell 0.7 percent and the Smallcap 100 lost 1.4 percent, underperforming the benchmarks.

Metal stocks tumble; Hindalco, Grasim weigh on indices

The Nifty Metal index dropped 2.1 percent, extending its losing streak to a second session. Hindalco plunged over 5 percent after its US-based subsidiary Novelis posted weaker-than-expected results, with flat shipments and a subdued margin outlook. Grasim Industries also slipped nearly 6 percent, emerging as the top Nifty loser, while JSW Steel and Tata Steel traded in the red.

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FMCG, IT and auto stocks lend support to indices

Defensive sectors provided partial relief. The Nifty FMCG index rose 0.05 percent, supported by gains in Britannia, Nestle India, and Hindustan Unilever. The Nifty IT index added 0.2 percent, led by Wipro, TCS, and Infosys, tracking firm cues from global technology markets.

In autos, Mahindra & Mahindra advanced 1.2 percent to Rs 3,625 after its strong Q2 FY26 results beat Street estimates. Analysts remained positive on the stock, citing sustained growth across both its auto and farm equipment segments and a steady improvement in margins. The Nifty Auto index closed marginally higher, up 0.1 percent.

Asian Paints stock tops gainers; Reliance, IndiGo, UltraTech firm

Asian Paints surged 4.7 percent to Rs 2,603, topping the Nifty gainers’ list amid sector-specific optimism. Nuvama Institutional Equities reiterated its “Buy” call, citing high entry barriers in the paint industry and noting that demand had been deferred, not lost, due to rains. Reliance Industries rose 1.6 percent, while InterGlobe Aviation and UltraTech Cement gained over 1 percent each.

Weak global cues, FII outflows still weigh on sentiment

A strong US dollar, hovering near a five-month high, continued to pressure metals and emerging market assets. Foreign institutional investors were net sellers for the fifth consecutive session, offloading equities worth Rs 1,067 crore on Tuesday.

“Markets have entered a cooling period following the October rally,” said Rajesh Bhosale, equity analyst at Angel One. Anand James, Chief Market Strategist at Geojit Financial Services, noted that Nifty could see a pullback if it sustains above 25,630–25,650 levels, with resistance near 25,770-26,035.

Despite the weak close, analysts pointed to resilient corporate earnings from SBI, M&M, Britannia, and Paytm as factors preventing a sharper correction in the broader indices.

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