Markets Fall After 3-Day Rally, Sensex Drops 756 Points & Nifty Slips Below 24,400 On West Asia Tensions
Indian stock markets ended lower on Wednesday, breaking a three-day rally as IT stocks declined and global tensions in West Asia hurt sentiment. Sensex fell 756 points while Nifty dropped below 24,400. Broader markets stayed positive, but uncertainty over oil supply and geopolitics kept investors cautious.
Markets End Lower After Recent Gains | Representative image | File
Mumbai: Indian equity markets closed in the red on Wednesday, snapping a three-day winning streak. Weakness in IT stocks and rising global uncertainty led to selling pressure across major indices.
The BSE Sensex fell 756.84 points, or 0.95 per cent, to close at 78,516.49. Meanwhile, the Nifty 50 declined 198.50 points, or 0.81 per cent, ending at 24,378.10.
Technical Levels to Watch
Market experts highlighted key levels for traders. The 24,500–24,600 range is acting as a strong resistance zone for Nifty.
On the downside, the 24,350–24,300 range is seen as an important support level. If Nifty falls below this zone, it could drop further towards the 24,100–24,000 levels in the near term.
Broader Markets Show Strength
Despite weakness in the main indices, broader markets remained stable. Mid-cap and small-cap stocks performed better than large-cap stocks.
The Nifty MidCap index rose 0.19 per cent, while the Nifty SmallCap index gained 1.13 per cent, showing continued investor interest in smaller companies.
IT Stocks Drag Markets Down
Among sectors, IT stocks were the biggest losers of the day. The Nifty IT index emerged as the worst-performing sector.
Financial services and auto stocks also remained under pressure, contributing to the overall decline in benchmark indices.
Global Tensions Impact Sentiment
Global cues remained weak due to ongoing tensions in West Asia. Concerns increased after talks between the United States and Iran failed to move forward.
US President Donald Trump said the Iranian government is “seriously fractured” while extending the ceasefire.
There were also worries about the continued blockade at the Strait of Hormuz, a key route for global oil supply. Reports also said that Iran did not attend a planned meeting with US officials, raising further concerns.
Analysts said markets traded with a cautious mood throughout the session. The mix of global tensions and sector-specific weakness kept investors on edge.
While broader markets showed resilience, the overall trend remains uncertain due to geopolitical risks and global developments.
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