BIZ DESK
Indian equity markets closed lower for the fourth consecutive session on Wednesday as persistent selling pressure, weak global cues, and profit booking in heavyweights weighed on sentiment. The BSE Sensex slipped 386 points, or 0.47%, to finish at 81,716, while the Nifty50 lost 113 points, or 0.45%, to close at 25,057.
Top Losers:
Among the Nifty pack, Tata Motors, Bharat Electronics, Adani Enterprises, Wipro, Jio Financial Services, Bajaj Auto, IndusInd Bank, Hero MotoCorp, UltraTech Cement, Axis Bank, and Tech Mahindra led the decline, shedding between 1% and 2.6%.
Broader Markets:
The weakness was more pronounced in mid and small-cap counters, with the Nifty Midcap 100 slipping 0.98% and the Nifty Smallcap 100 down 0.67%. Analysts said stretched valuations in the broader market remain a key concern amid sustained FPI outflows.
Sectoral Performance:
- Realty: The sharpest loser, down 2.5%, as profit-booking hit developers after a strong run-up.
- Auto: Dropped 1.15%, dragged by Tata Motors and Hero MotoCorp.
- Private Banks: Fell 0.8%, with Axis Bank and IndusInd Bank under pressure.
- FMCG: The lone gainer, inching up 0.18% on defensive buying.
Overall, analysts noted that while near-term volatility may persist due to global uncertainties and FPI selling, domestic fundamentals remain supportive for long-term investors.
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