Stock market closed slightly lower, weighed down by stocks like Titan, ITC, State Bank of India, and PowerGrid amid weaker earnings.

At close, Sensex slipped 0.27%, losing 213.12 points to settle at 78,058.16, while the Nifty declined 0.39%, down 92.95 points to 23,603.35. This was the second consecutive session of losses for both indices.

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Nifty 50 rose about 0.30% during the session to hit the intraday high of 23,773.55. However, it erased gains and slipped to the level near 23,600 while the Sensex fluctuated between 78551.66 and 77843.99.

However, Bharti Airtel emerged as the top loser among benchmark indices ahead of its key earnings release later today, contributing significantly to the market decline.

BSE Midcap index underperformed, falling 0.87%, while the Smallcap index ended flat.

Overall, the market capitalisation of BSE-listed firms dropped to nearly ₹425 lakh crore from over ₹427 lakh crore in the previous session.

On Nifty, the top gainers were Cipla (2.42%), Adani Ports & Special Economic Zone (1.72%), Infosys (0.98%), Tata Consumer (0.79%), and Dr. Reddy’s Laboratories (0.74%).

While on the losing side were Trent (8.22%), Bharat Electronics (3.18%), Bharti Airtel (2.45%), Titan Company (2.23%), and NTPC (2.13%).

Bank Nifty concluded the day at 50343.05, having reached an intraday high of 50553.35 and a low of 50149.8.

Among the sectors, most of them ended lower with the Nifty Realty down 2.19% and Consumer Durables by 1.84%. Nifty FMCG was down 0.96%, Auto by 0.93%, Media down by 0.75%, Metal by 0.75% and PSU Bank was down 0.73%.

Those ended in green were Nifty Pharma (0.64%) and IT (0.31%) amid rupee’s weakness against the US dollar.

IT sector stocks rose up to 1% including TCS, Infosys, HCL Tech, and Wipro after Cognizant Technology Solutions reported impressive Q4 results sparking optimism across the sector.

Among the key individual performers, Sula Vineyards dropped more than 4% to Rs 348 apiece after the company posted disappointing Q3FY25 results.

Swiggy’s stock crashed over 7% to Rs 387 per share as brokerages showed mixed views following a widened net loss of Rs 800 crore in Q3FY25.

The market extend losses ahead of the Reserve Bank of India’s (RBI) monetary policy decision on Friday. However, largely positive global cues and a decline in US bond yields capped the losses for the key indices.