Benchmark indices Sensex and Nifty extended their losing streak to a seventh consecutive session on Wednesday as weakness across global equities spilt over into domestic trading. The 30-share BSE Sensex closed 325.78 points or 0.42 per cent lower at 76,909.68. During the day, the benchmark hit a high of 77,347.81 and a low of 76,822.89, gyrating 524.92 points. Similarly, the 50-share NSE Nifty fell 76.60 points or 0.32 per cent to close at 24,078.30. Similarly, the broader market ended the session in the red. While the BSE MidCap Select Index was down by 2.59 points or 0.01 per cent, the BSE SmallCap Select Index dropped 67.12 points or 0.73 per cent.
Among sectoral indices, Nifty IT was the biggest gainer, up 0.73 per cent. On the other hand, Nifty FMCG and Nifty Auto fell 0.55 per cent and 0.27 per cent, respectively.
“Indian equity markets extended their losing streak to a seventh consecutive session on Wednesday as weakness across global equities spilled over into domestic trading, with higher bond yields, elevated crude oil prices and a sharp correction in technology shares undermining investor confidence. The combination of external headwinds outweighed domestic fundamentals, prompting investors to reduce risk exposure and keeping benchmark indices under sustained pressure throughout the session. Asian markets endured one of their weakest sessions in recent months. South Korea’s Kospi plunged nearly 6 per cent, triggering a trading curb, while Japan’s Nikkei 225 fell more than 3 per cent as the recent technology-led rally reversed sharply under pressure from rising global bond yields and heavy selling in semiconductor stocks,” said Hariselvan Radhakrishnan, Founder & CEO of HST Wealth, a SEBI-registered Research Analyst firm.
Top gainers and losers
Among the 30-Sensex firms, HCL Tech, Eternal, Kotak Bank, Sun Pharma and Titan were the major gainers, with HCL Tech gaining 1.73 per cent today. On the flip side, Power Grid, Bajaj Finance, L&T, ITC and Hindustan Unilever were among the laggards. Power Grid shares fell 2 per cent today.
Rupee falls 2 paise
Meanwhile, the rupee fell 2 paise to close at 95.76 (provisional) against the US dollar on Wednesday as a sharp rise in global crude oil prices amid heightened tensions in West Asia kept markets on edge.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)
