Mumbai, Nov. 6 -- The domestic equity benchmarks fell for the second consecutive session on Thursday, as weak economic data and persistent foreign fund outflows weighed on investor sentiment. The Nifty 50 slipped below the 25,550 mark, extending losses despite largely positive cues from other Asian markets.

After opening lower, the index failed to sustain brief recoveries and drifted downward through the session, forming lower highs and lower lows on an intraday basis. Selling was broad-based, led by declines in metal and consumer durables stocks, while IT shares managed to stay resilient on the back of steady Q2 earnings and stronger U.S. macro indicators.

Investor confidence weakened as the latest PMI readings signaled a moderation in...