MUMBAI — India’s benchmark equity indices closed slightly lower on Wednesday after a choppy session marked by a weakening rupee, persistent foreign investor outflows, and broad-based selling across the wider market.
The Sensex slipped 31.46 points to finish at 85,106.81 after opening almost flat at 85,150.64. The index swung sharply during the day, touching a high of 85,269.68 and a low of 84,763.64 amid selling in auto and FMCG heavyweights, offset by selective buying in IT and banking stocks.
The Nifty 50 ended at 25,986.0, down 46.20 points, or 0.18 per cent, falling below the key 26,000 level. Analysts said the slide was driven in part by the rupee’s continued weakness, which hit a fresh record low against the U.S. dollar, prompting foreign portfolio investors to book profits as currency depreciation erodes dollar-adjusted returns.
Market experts noted that Nifty spent most of the session in a narrow consolidation band between 25,875 and 25,950.
Among Sensex constituents, Mahindra & Mahindra, SBI, Titan, NTPC, Hindustan Unilever, Tata Motors PV, Bajaj FinServ, L&T, Maruti Suzuki, Trent, Ultratech Cement, Tata Steel, and Bharti Airtel closed lower. On the gainers’ side, ICICI Bank, TCS, HDFC Bank, Infosys, and Axis Bank ended in positive territory.
Sector performance was mixed. Nifty Fin Services rose 0.23 per cent, Nifty Bank gained 0.13 per cent, and Nifty IT advanced 0.76 per cent. However, Nifty Auto dropped 1.20 per cent, and Nifty FMCG fell 0.80 per cent.
The broader market faced sustained selling pressure. Nifty Midcap 100 declined 594 points, or 0.98 per cent, while Nifty Smallcap 100 fell 127 points, or 0.71 per cent. Nifty 100 also slipped 86 points, or 0.33 per cent.
Analysts said market sentiment remains cautious as currency instability, global uncertainty, and ongoing foreign selling continue to weigh on domestic equities. (Source: IANS)
