Indian Markets End Lower, Snapping Three-Day Rally on Global Tensions
MUMBAI — Indian equity markets closed lower on Wednesday, ending a three-day winning streak as weakness in IT stocks and rising geopolitical tensions weighed on investor sentiment.
The Nifty fell 198.50 points, or 0.81 percent, to close at 24,378.10, while the Sensex dropped 756.84 points, or 0.95 percent, to 78,516.49.
Market participants pointed to renewed uncertainty in West Asia, particularly stalled talks between the United States and Iran, as a key factor behind the decline.
Analysts said the Nifty continues to face resistance in the 24,500 to 24,600 range, while the 24,350 to 24,300 band remains an important near-term support level. A break below that range could push the index toward 24,100 to 24,000 levels.
Despite the weakness in benchmark indices, broader markets showed resilience. The Nifty MidCap index edged up 0.19 percent, while the Nifty SmallCap index gained 1.13 percent.
IT stocks led the decline, with the Nifty IT index emerging as the worst-performing sector. Financial services and auto stocks also came under pressure, contributing to the overall market weakness.
Global cues remained negative amid ongoing geopolitical concerns. The United States extended its ceasefire with Iran, but uncertainty persisted after talks between the two sides failed to make progress.
President Donald Trump described the Iranian government as “seriously fractured” while announcing the extension.
Concerns intensified after Trump said the blockade at the Strait of Hormuz would continue, raising fears of disruptions to global oil supply. Reports also indicated that a planned meeting between U.S. Vice President JD Vance and Iranian officials did not take place, with Tehran declining further discussions.
“Indian equity markets traded with a clear negative bias throughout the session, weighed down by persistent geopolitical tensions in the Middle East and the continued closure of the Strait of Hormuz,” an analyst said.
Analysts said the combination of weak global sentiment and sector-specific pressures kept investors cautious, even as broader indices managed to stay in positive territory. (Source: IANS
