Mumbai, Nov. 24 -- The domestic equity benchmarks slipped for a second straight session as profit booking and caution ahead of the US Fed's December policy outlook kept sentiment muted. Traders also stayed guarded amid uncertainty over the interim US-India trade agreement. The Nifty closed below 26,000, weighed down by metal and consumer durables stocks. However, selective buying in IT names helped cap the losses.

Global markets were more upbeat as expectations of a December Fed rate cut strengthened following softer signals from US employment data. Domestically, supportive macro indicators such as strong GDP growth, controlled inflation, steady oil prices and a healthy H2 earnings outlook continued to offer underlying stability.

The S&...