Indian stock markets fell in early trade on Wednesday, tracking weak global peers and elevated oil prices. The BSE Sensex declined over 300 points in the opening session, while the NSE Nifty slipped below the 24,500 mark.
Major Losers
From the 30-Sensex firms, Tata Steel, Bharat Electronics, Mahindra & Mahindra, Maruti, Eternal and UltraTech Cement were among the major laggards. The broader market also witnessed selling pressure, with midcap and smallcap indices trading in the red.
Global Cues Weigh
Asian markets traded lower following a negative close on Wall Street overnight. Concerns over rising interest rates and geopolitical tensions weighed on investor sentiment. Additionally, elevated crude oil prices added to the worries, as they could impact India's fiscal deficit and inflation.
Analysts expect volatility to continue in the near term, with investors eyeing upcoming corporate earnings and global economic data for further direction.
