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Sensex Drops 466 Points, Nifty Closes at 25,722 as Rally Stalls

Powell’s pushback on a December cut triggered foreign selling that outweighed domestic buying and steered markets into a short-term consolidation.

Overview

  • Benchmarks fell for a second session on Oct. 31, with the Sensex down 465.75 points to 83,938.71 and the Nifty lower by 155.75 points to 25,722.10.
  • Foreign portfolio investors sold Rs 3,077.59 crore on Thursday while domestic institutions bought Rs 2,469.34 crore, reflecting opposing flows during the pullback.
  • Traders flagged resistance at 26,000–26,100 with heavy call writing, near-term supports at 25,800–25,700, and downside risks toward 25,600–25,500 if supports break.
  • Bank Nifty hovered near its lower trendline around 58,000, with brokerages eyeing a continuation only on a decisive move above 58,577 toward 59,000.
  • Private banks, metals and power led declines as stock-specific earnings moves shaped the tape, while BEL, TCS and L&T were among notable gainers and NTPC and Cipla lagged.