Indian equities amid sharp drag in the heavyweight stocks ended lower. At the close, Nifty ended above 25,000 levels at 25,057.35, down 0.28 per cent ot 71 points, while Sensex closed 0.19 per cent or 152.93 points at 81,820.12.

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The broader markets also performed mixed, with the Nifty Smallcap 100 index ending over 1 per cent higher.

Bank Nifty, though, ended with mild gains led by stocks like ICICI Bank and Federal Bank. 

Sectorally, metal, auto and pharma saw the most cut of up to 1.44 per cent, while realty, consumer durables and FMCG ended in the green.

From the Nifty pack, top gainers included stocks like BPCL, ICICI Bank, Britannia, Bharti Airtel and Bharat Electronics, while laggards included stocks like HDFC Life, Bajaj Auto, Wipro, Bajaj Finance and Hindalco.

Vinod Nair, Head of Research, Geojit Financial Services said, "The domestic market experienced a downturn, influenced by a mixed global trend and partial profit-booking. Although declining crude prices are beneficial for the domestic economy, they signal weakening global demand. Additionally, India’s CPI surged driven by food prices, which will delay expected rate cuts. Furthermore, subdued corporate Q2 results are leading to a cautious stance."

HCL Tech shares after stellar Q2 results ended mildly higher after clocking a fresh 52-week high.

In intraday trade, Ramkrishna Forgings shares also notched a fresh record high after UBS initiated buy call on the stock.

While losses in the crude oil prices augurs well for Indian markets, the hotter-than-expected CPI print for September will push RBI to defer its rate cut plans.

Rupak De, Senior Technical Analyst, LKP Securities on the technicals said, "The Nifty remained volatile throughout the day but sustained above the 21 EMA on the daily timeframe. A fall below this level could increase weakness, with the possibility of Nifty dropping below 24,900. If Nifty falls below 24,900, it may trigger a further correction towards 24,700. On the higher side, resistance is seen at 25,200."

Meanwhile, European markets traded mixed after notching a fresh two-week high in intraday trade. The stocks were dragged lower amid losses in the mining and energy stocks,

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