Mumbai: Indian equity benchmarks snapped a four-week winning streak, ending marginally lower this week as investors booked profits amid mixed global cues.

The benchmark indices, Nifty and Sensex, declined 0.65 per cent and 0.55 per cent, respectively, to close at 25,722 and 83,938.

Market sentiment was buoyed during the first half of the week by upbeat domestic economic data and China’s approval for select Indian companies to import rare earth magnets. However, optimism faded after the US Federal Reserve reduced its benchmark interest rate by 25 basis points to the 3.75–4 per cent range.

“India's industrial output rose 4 per cent YoY in September 2025, supported by strong manufacturing activity. The US Federal Reserve hinted that the 25-bps cut might be the final one in 2025, which dampened hopes of further near-term easing,” said Ajit Mishra, SVP, Research, Religare Broking Ltd.

He added that steady corporate earnings and sustained foreign institutional investor (FII) inflows through October helped cushion the downside.

Metals, energy, and realty stocks were the main drivers of gains, while auto, pharma, and IT counters saw profit-taking.

“India's industrial output rose 4 per cent YoY in September 2025, supported by strong manufacturing activity. The US Federal Reserve hinted that the 25-bps cut might be the final one in 2025, which dampened hopes of further near-term easing,” said Vinod Nair, Head of Research, Geojit Financial Services.

Analysts noted that capital market stocks lost traction as SEBI’s proposed overhaul of total expense ratio (TER) structures weighed on investor sentiment.

According to market experts, support for the Nifty lies around the 25,600 and 25,400 zones, with resistance seen near 26,100.

In the upcoming holiday-shortened week, investors will track the final readings of the HSBC Manufacturing PMI, HSBC Services and Composite PMI data for cues.

Market participants are also watching developments on the India-US trade deal and trends in global markets, while several index heavyweights are set to announce their quarterly earnings.

IANS