The Nifty closed sharply lower on Tuesday, dragged by broad-based selling in financials, metals and auto stocks, as investors booked profits after recent gains in mid- and small-cap shares. Weak earnings from several mid-tier companies and mixed global cues also weighed on sentiment.

The NSE Nifty 50 index fell 166 points, or 0.65%, to 25,597, while the S&P BSE Sensex dropped 519 points to close at 83,459 - both ending near the day’s lows.

The Nifty Bank index slipped 274 points to 57,827, and the Nifty Midcap 100 index declined 250 points to 60,037, pulling back from last week’s record high.

Market breadth favoured the bears, with the advance-decline ratio standing at roughly 1:2. All major sectoral indices ended in the red except consumerdurables, which edged higher led by gains in Ti

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