The Nifty hit an intraday low of 24,429.25 before recovering partially, though the index ultimately closed near the day’s lows. Market breadth remained weak, with 296 of the Nifty 500 stocks closing in the red and the Advance-Decline ratio favouring decliners at 1.3:1. The Nifty Midcap 100 ended nearly flat, down just 0.02 per cent, while the Nifty Smallcap 100 gained 0.2 per cent. On the regulatory front, SEBI is examining trades from the August 3-4 closing auction session following sharp Nifty jumps, to check for possible price manipulation. European equities also traded in negative territory through the afternoon as the crude spike renewed inflation worries globally.