MUMBAI– Indian equities closed marginally lower on Wednesday after a volatile session, as investors reacted cautiously to the Reserve Bank of India’s decision to keep the repo rate unchanged at 5.5 percent.
The Sensex ended at 80,543.99, down 166.26 points, or 0.21 percent. The 30-share index opened in the red at 80,694.98, compared to Tuesday’s close of 80,710.25, ahead of the RBI’s policy announcement. It swung between an intra-day low of 80,448.82 and a high of 80,834.43.
The Nifty 50 settled at 24,574.20, down 75.35 points, or 0.31 percent, as IT stocks faced heavy selling pressure amid tariff concerns. Analysts noted that despite renewed trade tensions, the domestic market held firm near the key 24,500 support level.
“Sector performance was mixed, with banks and financial services showing relative stability, while pharmaceuticals, healthcare, IT, construction, media, and consumer goods saw noticeable weakness,” Ashika Institutional Equities said in a note.
Bank Nifty ended flat at 55,411.15, while Nifty Auto dropped 127 points (0.53%), Nifty FMCG fell 502 points (0.90%), and Nifty IT declined 608 points (1.74%).
Top losers included Sun Pharma, Infosys, Tech Mahindra, Bajaj Finance, Eternal, HCL Tech, TCS, Ultratech, and Bajaj Finserv. Asian Paints, Adani Ports, Mahindra & Mahindra, BEL, SBI, and HDFC ended in positive territory.
The broader market also came under pressure, with Nifty Next 50 losing 580 points (0.87%), Nifty 100 down 101 points (0.40%), Nifty Midcap 100 sliding 457 points (0.80%), and Nifty Small Cap 100 dropping 201 points (1.13%).
Vinod Nair, Head of Research at Geojit Financial Services, said, “In anticipation of improvement in consumption, private investment, and continued government-led capex, the domestic economy appears well-positioned for a better second half, reinforcing investor confidence despite external uncertainties.” (Source: IANS)
