Sensex Today | Stock Market Highlights: Nifty closes below 26,000 as metal stocks slump from highs

The Sensex fell 346 points to close at 84,696, while the Nifty declined 100 points to 25,942. Market breadth remained firmly negative, with nearly 35 Nifty stocks ending in the red and losses extending up to 2% across several index heavyweights.

The broader market moved in line with the benchmarks, as the midcap index dropped 313 points to 60,001, reflecting sustained pressure outside frontline names. Financials were relative outperformers in an otherwise subdued session, helping the Nifty Bank limit losses to just 79 points, closing near the flatline at 58,932.

Sectorally, metals failed to hold on to early gains as prices corrected sharply from the day’s highs, while FMCG stocks saw selective buying, with Tata Consumer Products and Asian Paints emerging as the top Nifty gainers. Rail stocks witnessed profit booking after recent sharp rallies, with IRFC and RVNL sliding about 5% each.

Capital market-related names remained under pressure, with Angel One the weakest ahead of monthly business updates, while EMS stocks continued to see selling, dragging Dixon Technologies down 4% and Amber Enterprises lower by 2%.

Gold financiers such as Muthoot Finance and Manappuram Finance pared intraday gains as precious metals erased early strength. On the positive side, HFCL, NCC and Titagarh Rail ended in the green, rising 2–5% ahead of their exclusion from the F&O segment.

Oil marketing companies moved higher as crude prices eased. Vodafone Idea remained in focus and managed to close off the day’s lows amid expectations of a potential relief package. Timex Group India fell 7% following reports of a promoter stake sale via offer for sale, while defence stocks saw a mixed close despite the DAC approving proposals worth ₹79,000 crore.