Indian Stock Markets Erase Morning Gains, Close Lower Amid Sector Rotation

Sensex falls 183 points, Nifty closes below 24,250 as market erases all morning gains. What lies ahead?

The Indian stock markets experienced a shift, dropping from earlier gains with both Sensex and Nifty closing lower. Key decliners included Infosys, Bharti Airtel, and L&T. Meanwhile, Kotak Mahindra Bank's shares surged over three percent, contrasting with the mixed performance of broader markets, where small caps thrived while mid caps faced challenges. Interestingly, despite the main indices' downturn, the market breadth showed a favor for advancing stocks.