Indian stock market today ended lower with Sensex and Nifty extended their losses for a second straight session on Thursday, weighed down by selling in metal, cement and public sector banking stocks amid mixed global cues and continued geopolitical uncertainty.

Key Highlights 

• Sensex and Nifty extended losses for a second session as metal, cement and PSU banking stocks faced selling pressure.
• Mixed global cues and persistent geopolitical uncertainty weighed on investor sentiment, keeping stock market today under pressure. 

The Sensex declined 539.35 points, or 0.70%, to close at 76,933.59. The NSE Nifty50 fell 116.90 points, or 0.48%, to settle at 24,090.85, slipping below the key 24,100 level.

Selling pressure intensified toward the close, with the Sensex losing more than 500 points during the session. HDFC Bank, NTPC, Mahindra & Mahindra and Bharti Airtel were among the major laggards in the Sensex pack, while Kotak Mahindra Bank, ICICI Bank, Tech Mahindra and Bharat Electronics were among the gainers.

On the Nifty50, Hindalco Industries, HDFC Bank and Mahindra & Mahindra were the biggest losers of the session.

Sectoral Performance: Cement and Metals Drag, Pharma Leads Gains

Sectoral indices largely remained under pressure through the session. The Nifty Cement index was the worst-performing sector, declining more than 1%, while metal and PSU banking stocks also witnessed sustained selling. In contrast, pharma, private banking and realty stocks outperformed, with the Nifty Pharma index gaining 0.84% to emerge as the top-performing sectoral index of the day.

The broader stock market also ended in negative territory. The Nifty MidCap 100 declined 0.10%, while the Nifty SmallCap 100 slipped 0.13%.

Markets Likely to Stay Range-Bound in the Near Term: Analysts

Analysts said markets are likely to remain range-bound in the near term amid expiry-related volatility and the continued absence of a diplomatic breakthrough in West Asia. However, moderating crude oil prices, resilient corporate earnings and foreign institutional investor inflows could provide some support to equities going forward.

Vinod Nair, Head of Research at Geojit Investments, said investors would also be closely tracking the US Fed Reserve Chair's upcoming Jackson Hole address for signals on inflation, interest rates and the broader policy outlook.

Also Read: India Finance News Today: Stocks, Rupee, IPOs and Corporate Updates

Nifty's Key Technical Levels to Watch

Technically, analysts identified 24,000 as a crucial support level for the Nifty. A sustained move above 24,100 could trigger a rebound toward the 24,250-24,300 zone, while a break below 24,000 may accelerate selling pressure toward the 23,900-23,850 range.