IT stocks pulled the Indian stock market down with the defence index declining by 2%.
BSE Sensex closed 0.41% lower at 83,190.28, and Nifty 50 dropped by 0.47% to 25,355.25. Midcap and smallcap segments limited their corrections.
Selling pressure persisted throughout the day, forming a bearish candle on the daily charts. The market breadth was weak with investors turning risk-averse.
Other sectors like PSU banks, telecom, pharma, and FMCGs faced selling pressure, offsetting gains in metal and realty stocks. Market may remain choppy unless broader cues provide a decisive break-out.