1 week ago
Sensex, Nifty End Lower as Global Uncertainty Weighs
Indian stock markets ended lower on Wednesday.
The Sensex and Nifty 50 both lost value.
IT, FMCG and automobile companies were among the weaker parts of the market.
Bharti Airtel, Power Grid Corporation of India and Infosys were major decliners.
Some metal, private-bank and cement stocks performed better.
Small-company stocks rose even though many larger stocks fell.
Investors are waiting for Nvidia’s earnings and new US inflation data.
They are also watching West Asia because events there could affect oil prices and inflation.
The Sensex fell 183.15 points, or 0.24%, to close at 77,472.94.
The Nifty 50 declined 126.80 points, or 0.52%, to settle at 24,207.75.
IT stocks posted the sharpest sectoral decline, while FMCG, automobile and realty shares also weakened.
Bharti Airtel, Power Grid Corporation of India and Infosys were among the major Nifty losers.
Investors are watching Nvidia’s earnings, US inflation data and West Asia developments for global market signals.
- Who
- Indian equity benchmarks and investors.
- What
- The Sensex and Nifty 50 ended lower, pressured by weakness in several sectors.
- Where
- Mumbai, India.
- When
- Wednesday.
- Why
- Investors were cautious ahead of Nvidia’s earnings, US inflation data and developments in West Asia that could affect technology stocks, interest rates, crude oil prices and inflation.
Key facts
- Sensex close
- 77,472.94, down 183.15 points or 0.24%
- Nifty 50 close
- 24,207.75, down 126.80 points or 0.52%
- Major declining sectors
- IT, FMCG, automobile and realty
- Major Nifty losers
- Bharti Airtel, Power Grid Corporation of India and Infosys
- Better-performing sectors
- Metal, private banking and cement
- Broader market
- Nifty MidCap fell 0.1%, while Nifty SmallCap rose 0.81%
- Nifty technical levels
- 24,400 is immediate resistance; 24,200 is immediate support, with stronger support at 24,100–24,000
Quotes
Market analyst
An analyst commenting on the Nifty’s technical outlook
“On the downside, 24,200 remains the immediate support, followed by the stronger 24,100–24,000 zone. A decisive break below 24,150 could increase selling pressure and expose the index to the 24,000 psychological level.”
thehansindia.com
“A sustained breakout above 24,400 would strengthen the technical structure and could pave the way towards 24,500–24,600. Until then, selling pressure at higher levels is likely to keep the index capped.”
thehansindia.com
Sources
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