Mumbai, Aug. 1 -- The headline equity benchmarks closed deep in the red on Thursday, dragged by global headwinds and renewed investor caution. The Nifty slipped below the 24,600 mark as the Street digested the impact of steep import tariffs imposed by the United States on multiple trade partners, including a 25% levy on Indian goods.

While indices opened lower tracking weak global cues, they staged a brief recovery only to be hammered down by mid-session profit booking and a sharp selloff in the final hour. Barring FMCG, all sectoral indices on the NSE ended with losses, with pharma, healthcare, and metal stocks bearing the brunt.

The selloff was intensified by sustained FII outflows, global market weakness, and renewed pressure from a ...