BIZ DESK
Indian equity benchmarks extended their losing streak for the third straight session on Wednesday, closing at week’s lows amid persistent foreign fund outflows and weak broader market sentiment.
The BSE Sensex slipped 120.21 points (0.14%) to settle at 84,559.65, after touching an intra-day low of 84,415.98. The NSE Nifty 50 declined 41.55 points (0.16%) to close at 25,818.55, its lowest level in a week.
Relentless selling by Foreign Institutional Investors (FIIs) continued to cap any meaningful recovery. FIIs offloaded equities worth ₹2,381.92 crore, while Domestic Institutional Investors (DIIs) provided limited support with net purchases of ₹1,077.48 crore, as per exchange data.
Among sectoral indices, Nifty PSU Bank rallied 1.20 per cent, while Nifty Media shed 1.80 per cent. Nifty Realty and FMCG also emerged as key laggards. The Nifty Midcap 100 declined 321.95 points or 0.54 per cent to 59,388.85, while the Nifty Smallcap 100 fell 126.60 points or 0.73 per cent to 17,138.55.
Shriram Finance led the Nifty gainers, rising 2.07 per cent to ₹866.00, followed by State Bank of India which gained 1.58 per cent to ₹976.35, Hindalco which added 1.30 per cent to ₹848.00, Eicher Motors which climbed 1.15 per cent to ₹7,143.00, and Tata Consumer which rose 0.86 per cent to ₹1,180.00.
On the losing side, Max Healthcare plunged 3.71 per cent to ₹1,033.20, Apollo Hospitals fell 1.98 per cent to ₹6,912.00, Trent declined 1.66 per cent to ₹4,040.30, Bajaj Auto dropped 1.55 per cent to ₹8,868.00, and HDFC Life slipped 1.49 per cent to ₹752.95.
Stocks in Focus:
Among the Sensex constituents, Trent, HDFC Bank, ICICI Bank, Adani Ports, Bajaj Finserv, Bharat Electronics, Titan and Asian Paints emerged as the key drags on the index.
However, select heavyweight stocks helped limit the downside. State Bank of India, Infosys, Axis Bank, Sun Pharma, Maruti Suzuki, TCS and Tata Steel closed higher, gaining up to 1.5%, supported by defensive buying and selective accumulation in PSU banks and IT names.
Sectoral Performance:
- Nifty Media was the worst-performing sector, plunging 1.7%, weighed down by profit booking and weak advertising outlook.
- Consumer Durables, Realty and Chemicals also ended in the red, reflecting broader risk-off sentiment.
- On the positive side, PSU Banks outperformed, backed by gains in SBI and expectations of stable asset quality.
- IT stocks also closed higher, aided by selective buying in large-cap names amid a relatively stable rupee and defensive positioning.
Broader Market Weakness:
The broader market underperformed the benchmarks:
- BSE MidCap index declined 0.54%
- BSE SmallCap index fell 0.73%
This underscores continued caution among investors toward mid- and small-cap stocks amid stretched valuations and global uncertainty.
Currency & Commodities:
In the forex market, the rupee showed sharp intraday recovery, opening at 91.05 per US dollar before strengthening to an intraday high of 89.96, marking a 97-paise gain from its previous close.
Meanwhile, in the commodities space, silver prices extended their rally. Silver March futures on the MCX surged to fresh record highs, trading near ₹2,05,665, supported by strong global demand and safe-haven buying.