Domestic benchmark indices BSE Sensex and Nifty 50 ended in red today. BSE Sensex fell 289 points and ended at 57,925 while Nifty 50 dropped 75 points to 17,077.

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The Nifty Bank slipped by 382 points to 39,617, and the midcap index lost 124 points to close at 29,917. Among the major losers were Reliance, HDFC Bank, Infosys, and ICICI, while ITC and Maruti provided some support.

All Nifty Bank constituents closed lower, with HDFC Bank and ICICI being the top losers. Vedanta fell by over 5 percent on reports of a stake sale, although the company has denied the Bloomberg report. HAL also slipped by 5 percent on an offer for sale of a 3.5 percent stake, which was fully subscribed by non-retail investors. Asian Paints and Berger Paints slipped by 1-3 percent as a brokerage raised concerns about increasing competition. IT stocks were under pressure after the US Federal Reserve raised interest rates by 25 basis points, with the Nifty IT falling by 1 percent.

Auto stocks though moved higher on the back of price hike announcements, with Maruti and Tata Motors rising 1 percent each. Metals stocks largely closed with gains as the dollar index slipped to a two-month low.

The market breadth overall at the close, was in favour of declines, with NSE advance-decline ratio indicating a fall in two stocks against one stock advancing (Advance-Decline ratio at 1:2). The market fall has led to a drop of nearly Rs 1 lakh cr in market capitalisation of BSE-listed companies. Total market cap of BSE companies today stand At Rs 257.1 lakh cr against Rs 258 lakh crore yesterday.

Overall, the Indian stock market witnessed a lackluster day of trading, with the financials and IT sectors dragging down the indices. The market breadth favored declines, indicating a cautious outlook by investors.

Also read: Stock Market Highlights: Sensex ends 300 points lower, Nifty 50 below 17,100