New Delhi, Aug. 27 -- On Wednesday, the Nifty 50 index opened on a positive note but failed to sustain gains at higher levels and eventually settled lower at 24,207.75. The decline remained modest during the session, while the CAS adjustment at the close led to an additional downtick of nearly 68 points in the index.

While the frontline index ended in negative territory, the broader market remained relatively resilient. The Nifty Smallcap 100 index outperformed and touched a fresh all-time high. The session also witnessed sectoral rotation, with buying interest shifting towards metals, banking and financial services, while IT and FMCG stocks remained under pressure.

The Nifty erased the gains made in the previous session and formed a si...