MUMBAI– Indian equity benchmarks ended lower on Wednesday after a choppy trading session, as early gains faded amid profit booking and mixed global cues.
The Sensex dropped 153 points, or 0.19 percent, to close at 81,773.66, while the Nifty fell 62 points, or 0.25 percent, to end at 25,046.15.
“The Nifty opened on a firm note but failed to sustain momentum beyond its immediate resistance near 25,200, triggering broad-based profit booking across key sectors such as banking, auto, FMCG, and realty,” analysts said. The index slipped to a weekly low of 25,008 before recovering slightly around the psychological support level of 25,000.
Despite mid-session recovery attempts, the Nifty encountered renewed selling pressure near 25,130–25,150, forming a series of lower highs and lower lows on the intraday chart, traders noted.
Broader markets also faced selling pressure, with the Nifty Midcap 100 index down 0.73 percent and the Smallcap 100 index lower by 0.52 percent.
Among sectoral indices, most ended in negative territory except for information technology and consumer durables. The Nifty IT index rose 1.51 percent, led by gains in Infosys, TCS, Coforge, LTIMindtree, HCLTech, and Tech Mahindra, as investors favored defensives amid global volatility.
On the downside, Realty, Media, Auto, and Energy sectors each fell more than 1 percent. Nifty Bank, FMCG, Financial Services, Pharma, Metal, and Oil & Gas indices also closed lower by up to 1 percent.
Market experts said investors turned cautious after recent gains, with profit booking emerging ahead of the second-quarter earnings season. “The indices witnessed a volatile session, tempered by profit-taking after a sharp rally. Investor caution dominated as market participants reassessed valuations and growth prospects,” analysts said.
They added that global uncertainty continued to weigh on sentiment. “Heightened global risks and the ongoing U.S. government shutdown drove gold to record highs, signaling elevated risk aversion. Attention now turns to the September FOMC minutes for cues on the Federal Reserve’s policy stance.”
Looking ahead, analysts expect the market’s focus to shift toward domestic earnings, macroeconomic indicators, and festive season demand trends. “While global developments remain relevant, domestic fundamentals will play a bigger role in determining near-term direction,” they said. (Source: IANS)
