New Delhi, Nov. 8 -- India's benchmark indices, the Sensex and Nifty 50, traded slightly lower on Friday due to selling pressure in sectors including banking, automotive, real estate, and oil & gas. Broader markets also saw declines, with the midcap and smallcap indices trading over half a percent down.

Despite positive global cues following a 25 basis points rate cut by the US Federal Reserve and the recent election victory of Republican Donald Trump in the US elections 2024, which boosted Wall Street indices, sustained selling by foreign institutional investors (FIIs) in the Indian equity markets has driven a sharp correction in domestic indices.

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