Mumbai, Dec. 3 -- Key equity indices slipped for the fourth straight session as investors booked profits ahead of the RBI's policy decision later this week. A weakening rupee and steady FII outflows added to the cautious mood. Global cues offered little direction, with markets mixed as investors evaluated upcoming policy decisions from the Fed and the ECB amid heightened currency volatility. IPO activity also remained in focus through the day.

The Nifty finished below the 26,000 mark, dragged by sharp losses in PSU banks after the government told Parliament it has no plan to raise the FDI limit in state-run lenders. Consumer Durables and Auto stocks also retreated. IT shares, however, bucked the pressure, gaining ground on the back of th...