Indian equity markets began Wednesday's trading session on a cautious note, swinging between minor gains and losses. Investors maintained a watchful stance as foreign funds continued their selling spree and global tariff concerns persisted.
Benchmark Indices Show Modest Gains
At 12:00 PM, the BSE Sensex managed to climb 161 points, representing a 0.19% increase to reach 83,789. Simultaneously, the Nifty50 index rose 55 points, marking a 0.22% gain. This tentative upward movement followed a weak closing in the previous session.
On Tuesday, the Sensex had dropped 250.48 points, closing at 83,627.69. The Nifty declined 57.95 points to settle at 25,732.30. The market's hesitant start reflected ongoing investor uncertainty.
Heavyweight Stocks Show Mixed Performance
Several major stocks exerted downward pressure on the indices. Within the 30-share Sensex pack, Asian Paints, Tata Consultancy Services, Bajaj Finserv, InterGlobe Aviation, Sun Pharma and UltraTech Cement emerged as the primary laggards.
Conversely, Tata Steel, Bharat Electronics, NTPC and Axis Bank provided crucial support, trading firmly in positive territory. These gainers helped offset some of the losses from other heavyweight components.
Institutional Activity Shapes Market Sentiment
Foreign institutional investors remained net sellers, offloading equities worth Rs 1,499.81 crore on Tuesday. This continued foreign fund outflow contributed significantly to the cautious market atmosphere.
Domestic institutional investors attempted to counterbalance this selling pressure. They stepped in with purchases totaling Rs 1,181.78 crore on the same day, providing some stability to the markets.
Nifty50 Top Performers and Underperformers
The Nifty50 index saw several notable gainers during the session:
- Tata Steel surged 3.70%
- Axis Bank climbed 2.91%
- ONGC advanced 2.70%
- NTPC gained 2.66%
- UltraTech Cement rose 2.26%
On the losing side, key decliners included:
- TCS dropped 1.68%
- Asian Paints fell 1.63%
- HUL declined 1.23%
- Eicher Motors slipped 1.17%
- Sun Pharma decreased 0.98%
Sensex Leaders and Laggards
Within the Sensex, the top gainers demonstrated strong performance:
- Tata Steel jumped 3.67%
- IndusInd Bank rallied 3.38%
- Axis Bank advanced 2.91%
- NTPC gained 2.70%
- UltraTech Cement rose 2.29%
The Sensex's primary losers showed notable declines:
- TCS fell 1.67%
- Asian Paints dropped 1.59%
- HUL declined 1.23%
- Sun Pharma decreased 0.98%
- Tech Mahindra slipped 0.92%
Global Market Context
Asian markets displayed some resilience during the trading session. South Korea's Kospi, Japan's Nikkei 225, Shanghai's SSE Composite and Hong Kong's Hang Seng all traded higher, providing a somewhat supportive regional backdrop.
However, US markets closed lower on Tuesday, adding to the cautious global sentiment. Meanwhile, Brent crude oil, the global benchmark, edged down 0.49% to $65.15 per barrel, reflecting ongoing concerns about global demand.
The combination of foreign fund outflows, global tariff uncertainties, and mixed corporate performances created a complex trading environment. Investors appeared to be weighing multiple factors while making their investment decisions.
