07 October,2026 09:55 AM IST | Mumbai | mid-day online correspondent
Representational Image. File pic.
The domestic equity benchmark indices traded in the negative territory in the early deals on Wednesday ahead of the Reserve Bank of India's monetary policy decision. The elevated crude oil prices and sustained foreign outflows dampened investor sentiment.
The 30-share BSE Sensex declined 429.81 points or 0.59 per cent at 72,638 in the early trade. The 50-share NSE Nifty slipped 158.05 points or 0.69 per cent at 22,618.25 in the initial trade.
"The focus of the market attention today will be on the monetary stance and the message from the RBI Governor. A 25 bp hike in policy rates is inevitable and already discounted by the market. What is not discounted is the monetary stance and the central bank's view on the emerging growth-inflation dynamics. Therefore, the market's response to the policy would be influenced by the Governor's comments on the emerging scenario," V K Vijayakumar, Chief Investment Strategist, Geojit Investments.
Among the 30 Sensex constituents, only three were trading higher. Bajaj Finance, Bharti Airtel and Eternal were the only gainers in the initial trade. Titan, Asian Paints, Bharat Electronics, Maruti Suzuki and Axis Bank were the major laggards in the early deals. Shares of Titan declined 3.37 per cent.
On Tuesday, the benchmark indices extended their gains for the second consecutive day and the Sensex soared 685.34 points, or 0.95 per cent, to settle at 73,067.81, while the Nifty surged 220.35 points, or 0.98 per cent, to end at 22,776.10.
"Brent crude is back above USD 101 and there are no signs of any reversal in FPI outflows. Domestic liquidity and expectations of good Q2 numbers are supporting the market," Vijayakumar said.
Brent crude, the global oil benchmark, was trading higher by 0.91 per cent at USD 101.50 per barrel, according to news agency PTI.
Foreign Institutional Investors (FIIs) were net sellers, offloading equities worth Rs 2,961.30 crore on Tuesday. In contrast, the Domestic Institutional Investors (DIIs) were net buyers purchasing equities worth Rs 5,088.92 crore, as per the exchange data.
"Asian markets traded negatively: the Nikkei slipped 0.9 per cent and the Kospi fell 1.3 per cent; mainland China stays shut until October 8. Brent trades near USD 101, a headwind for India's import bill, inflation and the rupee," Hemang Gor, Senior Research Analyst Derivatives & Technical Research, Axis Direct said.
In Asian markets, Japan's Nikkei 225 index, Hang Seng index and South Korea's Kospi all quoted lower.
(With inputs from PTI)
