Sensex ends 519 points lower, Nifty slips below 25,600;

POWERGRID

,

ETERNAL

decline nearly 3% each

India’s benchmark indices, the Nifty and the BSE Sensex, closed sharply lower on Tuesday, extending their losing streak after a brief pause on Monday, as heavy selling was seen across IT, automobile, and metal counters. The Nifty 50 settled at 25,597.65, down 165.70 points (0.64%), while the 30-share BSE Sensex ended at 83,459.15, a fall of 519.34 points (0.64%). On the Sensex,

, , (Passenger Vehicles), , and were among the major laggards, each shedding between 2% and 3%. Among the sectoral indices, the Nifty IT index was a key drag, slipping 1.1% as mixed commentary from U.S. Federal Reserve officials dampened hopes of an interest rate cut in December. The broader market also softened, with the small-cap index falling 0.8% and the mid-cap index losing 0.4%. In contrast, l surged 1.9% to an all-time high after the country’s second-largest telecom company reported a strong jump in quarterly profit. Titan Company climbed 2.3% to a one-year high following better-than-expected September-quarter results. Meanwhile, & Mahindra gained 0.9% on the back of robust SUV sales boosting quarterly profit, and State Bank of India added 0.8%, aided by gains from the sale of its stake in .