Indian equities closed in the red on Wednesday, pressured by sector-specific sell-offs that overshadowed gains in select areas. The Sensex lost 270.84 points (0.33%) to finish at 81,909.63, while Nifty retreated 75 points (0.30%) to 25,157.50, reflecting widespread caution among traders.
Consumer durables led the decline with a 1.66% drop, followed by defense, PSU banks, and financial services, each down nearly 1%. This sectoral weakness amplified the market’s downward trajectory. In contrast, metals, oil & gas, infra, energy, and commodities saw inflows, cushioning the blow to some extent.
Smaller stocks faced steeper losses compared to blue-chips. Nifty Midcap 100 plunged 1.14% or 661.70 points to 57,423.65, and Nifty Smallcap 100 fell 0.90% or 149.85 points to 16,551.20. The disparity highlights rotating investor preferences amid economic uncertainties.
Sensex top performers were UltraTech Cement, Indigo, Adani Ports, Power Grid, Tata Steel, TCS, and others, bucking the trend. Losers dominated with ICICI Bank, HDFC Bank, SBI, L&T, Axis Bank, Trent, BEL, Maruti Suzuki, and Kotak Mahindra Bank posting notable declines.
Market participation skewed negative, as BSE saw 2,831 stocks decline versus 1,437 advances, with 137 flat. SBI Securities’ Sudip Shah provided insights: Nifty dipped to 24,920 at open, rebounded to 25,300 on buying, but faltered to close at 25,158. ‘Key support lies at 24,900-24,950, resistance at 25,300-25,350,’ he noted.
As traders eye global markets and policy signals, this session underscores the market’s sensitivity to domestic sector dynamics and broader economic headwinds. Sustained support holds could pave way for recovery, but breaches might trigger deeper corrections.