Closing Bell: Sensex drops 364 points, Nifty slips below 23,900; auto stocks buck the trend

Indian benchmark indices extended their losing streak for a fourth straight session on Wednesday, with the Nifty 50 closing below the 23,900 mark amid broad-based selling across sectors. At the closing bell, the Sensex declined 364 points to 76,391 while the Nifty 50 settled 127 points lower at 23,869 Sectoral performance remained largely subdued, with only a few indices ending in positive territory. Nifty Realty emerged as the biggest laggard, followed by Nifty Oil & Gas, Infrastructure, PSU Bank, and Nifty Energy. Other sectors that ended lower included Metal, Pharma, FMCG, Consumer Durables, and IT. In contrast, Nifty Auto stood out as the top-performing sector, supported by buying interest in automobile stocks, while Nifty Media also ended with modest gains. The broader market remained under pressure, with both the Nifty Midcap and Nifty Smallcap indices closing around 1% lower, reflecting weakness beyond the frontline indices. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.