Sensex slips 500 points lower, Nifty below 24,550; bank, auto stocks drag
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Domestic benchmark indices opened lower on Thursday, dragged by losses in banking and auto stocks, after a strong rally earlier this week that took them to nearly seven-month highs. Analysts expect consolidation as recent gains from trade deal progress and macroeconomic stability appear to be priced in. At around 9:47 am, the BSE Sensex was down 501 points, or 0.62%, at 80,828, while the Nifty50 slipped 131 points, or 0.53%, to 24,535. From the Sensex pack, IndusInd Bank, Sun Pharma, M&M, Maruti, Kotak Bank, and Axis Bank were among the top laggards in early trade, while Tech Mahindra, Adani Ports, Tata Motors, and HCL Tech opened with gains. Among individual stocks, Tata Power jumped 2% after the company reported a 25% YoY increase in its consolidated net profit, reaching Rs 1,306 crore in Q4FY25. Eicher Motors shares surged 2% after the company posted a strong set of Q4FY25 numbers, with consolidated net profit rising 27% year-on-ye...