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Stocks retreat as Nifty, Sensex slide; Midcaps buck weak trendThe Nifty 50 fell 346 points to close at 24,578, while the Sensex dropped 1,282 points to end at 81,148. The Nifty Bank index slipped 442 points to 54,941.By Poonam Behura  May 13, 2025, 3:59:30 PM IST (Published)2 Min ReadIndian equity indices ended lower on Tuesday, surrendering part of Monday's rally, as weakness in IT and financial stocks weighed on the benchmarks. The Nifty 50 fell 346 points to close at 24,578, while the Sensex dropped 1,282 points to end at 81,148. The Nifty Bank index slipped 442 points to 54,941.

However, the broader market outperformed, with the Nifty Midcap 100 index rising 105 points to 55,521. Market breadth remained positive, with the advance-decline ratio at 2:1, indicating broad-based buying despite index-level weakness.

Defence stocks surged as much as 10% after Prime Minister Narendra Modi reiterated his commitment to boosting indigenous manufacturing under the ‘Made in India’ initiative. Hero MotoCorp and Cipla ended 1-2% higher, reacting positively to their latest earnings.

IT stocks reversed Monday's gains, dragging the Nifty IT index 2% lower, while SRF pared intraday losses and closed 3% down after upbeat commentary on its chemicals business.

Among midcaps, UPL tumbled 5%, becoming the top laggard after it provided a weaker-than-expected FY26 outlook. Swiggy fell 3% as its shareholder lock-in period ended, while Eternal, Chambal Fertilisers, Oracle Financial Services Software, REC, and Torrent Power were among the other major midcap losers.

Hindalco shed 3% after its U.S. unit Novelis refrained from offering FY26 guidance, dampening investor sentiment. Tata Motors slipped 1% ahead of its quarterly earnings release.Continue ReadingCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsNifty 50 Closeshare market today