Selling pressure in financial, banking, and consumption stocks, coupled with ongoing rupee weakness, added to market woes. The 30-share Bombay Stock Exchange (BSE) Sensex recovered some intra-day losses to close 270.84 points, or 0.33 per cent lower, at 81,909.63
Among Sensex constituents, ICICI Bank, Trent, Bharat Electronics, Axis Bank, HDFC Bank, Larsen & Toubro, SBI, and Maruti were major laggards. Representational pic
Indian stock benchmarks ended lower for the third consecutive session on Wednesday, weighed down by rising geopolitical tensions, weak global peers, and persistent foreign fund outflows, news agency PTI reported.
Selling pressure in financial, banking, and consumption stocks, coupled with ongoing rupee weakness, added to market woes.
The 30-share Bombay Stock Exchange (BSE) Sensex recovered some intra-day losses to close 270.84 points, or 0.33 per cent lower, at 81,909.63, PTI reported.
During the day, it had tumbled 1,056.02 points, or 1.28 per cent, to 81,124.45. The 50-share National Stock Exchange (NSE) Nifty declined 75 points, or 0.30 per cent, to 25,157.50.
Among Sensex constituents, ICICI Bank, Trent, Bharat Electronics, Axis Bank, HDFC Bank, Larsen & Toubro, SBI, and Maruti were major laggards, while Eternal, UltraTech Cement, InterGlobe Aviation, and Reliance Industries closed in the green.
Foreign institutional investors (FIIs) sold equities worth Rs 2,938.33 crore on Tuesday, while domestic institutional investors (DIIs) picked up stocks worth Rs 3,665.69 crore, PTI reported, quoting exchange data.
Stock market today: Mixed Asian cues, sharp US sell-off, and rupee weakness weigh on investor sentiment
“Indian equity markets ended the session on a cautious to negative note as mixed cues from Asian peers and sharp losses overseas, along with continued rupee weakness, kept investor risk appetite subdued,” said Ponmudi R, CEO of Enrich Money.
In Asia, Japan’s Nikkei 225 closed lower, while South Korea’s Kospi, Shanghai’s SSE Composite, and Hong Kong’s Hang Seng ended higher. European markets traded in the red.
US markets tumbled sharply on Tuesday, with the Nasdaq Composite down 2.39 per cent, S&P 500 off 2.06 per cent, and Dow Jones falling 1.76 per cent.
“Domestic markets were gripped by volatility as global risk factors dampened sentiment. However, value buying toward the close helped recover some early losses. Weak rupee and trade uncertainties may prolong this volatility,” said Vinod Nair, Head of Research, Geojit Investments.
Brent crude, the global oil benchmark, fell 1 per cent to USD 64.27 per barrel.
On Tuesday, the Sensex had dropped 1,065.71 points, or 1.28 per cent, to 82,180.47, while the Nifty tumbled 353 points, or 1.38 per cent, to 25,232.50.
(With PTI inputs)
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