Benchmark index Nifty 50 closed lower on Wednesday, finishing below the 25,000 level due to heavy selling in the information technology and auto sectors, despite Reliance Industries and HDFC Bank gains.

The Nifty closed down 86.05 points at 24,971.30, while the Sensex fell 318.76 points to 81,501.36. The Nifty Midcap 100 index also declined, slipping 141.40 points to 59,451.85, and the Nifty Bank dropped 104.95 points to 51,801.05.

HDFC Life was the top gainer on the Nifty, rising after management raised its growth outlook. Trent faced significant selling pressure and ended nearly 4% lower as the top loser.

Sugar stocks declined, with Balrampur Chini and Dalmia Bharat Sugar falling up to 4% each, while Zydus Cadila dropped 4% after a US court ruling against its partner in a cancer drug patent case.

HDFC Asset Management Company (AMC) reached a record high, rising 6% on strong Q2 earnings.

Ashoka Buildcon added 2% after receiving a Letter of Acceptance (LoA) for a Rs 1,126.6 crore project from the Brihanmumbai Municipal Corporation, and Suzlon Energy ended a four-day losing streak with a 2% gain.

Conversely, Angel One fell 4% after failing to sustain initial gains following Q2 results, while KEI Industries slipped 8% due to Q2 margins and profits falling below estimates.

Cochin Shipyard declined 4% amid a government offer-for-sale at an 8% discount, while Strides Pharma rose 4% after its associate firm secured Rs 800 crore in funding commitments.

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