Markets end at day’s low amid broad-based drags; Nifty slips below 24,900

The equity benchmarks closed sharply lower on Tuesday, dragged down by broad-based selling in midcap stocks and weakness across most sectors, with the Nifty 50 slipping below the 24,900 mark and the Sensex retreating from record highs.

The BSE Sensex fell 213 points, or 0.26%, to end at 81,583, while the NSE Nifty 50 declined 93 points, or 0.37%, to close at 24,853 — both indices settling near the day’s low. The Nifty Bank index also lost ground, shedding 231 points to finish at 55,714. The broader market underperformed, with the Nifty Midcap 100 index falling 389 points to 58,379.

Market breadth remained weak with the advance-decline ratio at 1:2, reflecting the underperformance of mid- and small-cap stocks amid sustained selling pressure.

Sectoral Trends and Stock Movers
All sectoral indices on the NSE ended in the red except for IT and defence stocks, which showed relative strength. The Nifty Pharma index extended its recent decline, marking losses in three of the last four sessions, amid continued investor concerns following recent comments by former U.S. President Donald Trump regarding drug pricing.

Sun Pharma and Dr. Reddy’s Laboratories were among the top Nifty losers, along with Adani Enterprises, Bajaj Finance, and Eternal, which also posted notable declines.

Defence-related shares, in contrast, gained on safe-haven interest, with the Israel-Iran conflict entering its fifth day. Mazagon Dock Shipbuilders surged 4%, leading gains in the segment, while other defence names also saw modest advances.

Hindustan Zinc was the worst-performing stock in the midcap space, falling 5% after announcing a ₹12,000 crore capital expenditure plan that raised investor concerns over return on investment.

Tata Motors dropped 2%, marking its fourth consecutive session of losses, amid concerns over demand and valuation.

Outliers and Gainers
Among the few notable gainers, Vishal Mega Mart recovered sharply from intraday lows, closing 4% higher — nearly 14% off its session low. CG Power and Industrial Solutions rose 2% after the company announced it had secured an order worth ₹641 crore from Power Grid Corporation of India.