Indian equity markets closed lower on Wednesday, extending recent losses as global trade concerns and continued foreign investor outflows weighed on sentiment.
The Sensex slipped 245 points to close at 83,382, while the Nifty 50 fell below 25,700, ending at 25,665.
This marks the seventh decline in the last eight sessions, highlighting persistent nervousness in the markets.
Investor caution, driven by worries over potential US tariffs and uncertainty surrounding the India–US trade deal, kept foreign institutional investors risk-averse.
On the downside, IT and FMCG stocks dragged the indices.
Heavyweights such as TCS, Asian Paints, Maruti Suzuki, Sun Pharma and Hindustan Unilever fell between 1.5 and 2%.
TCS dropped over 2%, while HDFC Bank slipped 1.3%, limiting any recovery in the benchmarks.
Tata Elxsi also slid 5% after reporting a decline in quarterly profit.
There were, however, some clear pockets of strength.
PSU banks outperformed, with the PSU Bank index rising over 2% after strong earnings.
Union Bank of India surged nearly 8%, while Indian Overseas Bank gained over 2% on improved profitability.
Metals also found support, tracking higher global prices amid expectations of U.S. rate cuts and safe-haven demand.
Globally, cues were mixed.
Asian markets touched fresh highs, led by Japan, while US futures edged lower and European markets signaled a muted start.
Gold and silver surged to record highs, while crude oil prices remained largely flat.
Meanwhile, the rupee weakened slightly, ending at 90.29 against the dollar, pressured by foreign fund outflows and firm oil prices.
Looking ahead, investor focus now shifts to Q3 earnings, especially results from IT and banking companies.
That’s all for today on ET Market Watch.
I’m Neha Vashishth, thanks for listening.