The Indian stock market closed with a decline on Wednesday. Benchmark stock indices Sensex and Nifty fell for the third consecutive day and closed at their lowest level in almost a month. The 30-share BSE Sensex fell 275.01 points or 0.34 per cent to close at 84,391.27, a level not seen since November 11. During the day, it touched a high of 85,020.34 and a low of 84,313.62.
Meanwhile, the 50-share NSE Nifty fell 81.65 points or 0.32 percent to close at 25,758.00. During the day it touched a high of 25,947.65 and a low of 25,734.55. On Wednesday, the rupee fell 9 paise to close at 89.96 (provisional) against the US dollar.
Condition of Sensex companies
Among Sensex constituents, Eternal, Trent, Bharti Airtel, Infosys, Tech Mahindra, UltraTech Cement, ICICI Bank, HDFC Bank, Bajaj Finance, Tata Consultancy Services, Bharat Electronics Ltd, Larsen & Toubro and Tata Motors Passenger Vehicles were among the laggards. At the same time, Tata Steel, Sun Pharmaceuticals, ITC, NTPC, Reliance Industries, HCL Technologies, PowerGrid and Asian Paints were among the profit making companies.
Due to these reasons there is uncertainty in the market
Vinod Nair, Head of Research, Geojit Investments Ltd, said Indian markets reflected global caution due to continued foreign investor (FII) withdrawals, rupee weakness and uncertainty around the US-India trade talks. In the near term, the market direction will be influenced by central bank signals and clarity on trading developments.
Nair further said that global equity markets are witnessing continued volatility due to rise in Japanese bond yields and signals of monetary tightening by the Bank of Japan, which is fueling risk aversion in emerging markets.
He said all attention is now focused on the upcoming US Fed meeting, where an interest rate cut of 25 basis points is widely expected. However, internal differences and mixed economic indicators may dampen expectations of further interest rate cuts in 2026.
Decline seen in European markets
In Asian markets, Shanghai’s SSE Composite Index, Japan’s Nikkei 225 and South Korea’s Kospi closed lower, while Hong Kong’s Hang Seng ended in the green. European markets are trading broadly lower. Wall Street also witnessed a widespread decline in overnight trading on Tuesday.
The price of Brent crude fell to $ 61.92 per barrel.
Global oil benchmark Brent crude fell 0.03 percent to $61.92 a barrel. Meanwhile, foreign institutional investors (FIIs) were net sellers of equities worth Rs 3,760.08 crore on Tuesday, while domestic institutional investors (DIIs) bought shares worth Rs 6,224.89 crore. On Tuesday, the 30-share BSE Sensex fell 436.41 points to close at nearly two-week low of 84,666.28. At the same time, the 50-share NSE Nifty fell 120.90 points and closed at 25,839.65.
