Mumbai: Indian stock markets closed lower for the third consecutive session on Wednesday as investors remained cautious amid rising geopolitical tensions and renewed worries over possible tariff hikes by the United States. Weak global cues and continued selling by foreign investors added pressure on market sentiment.
The BSE Sensex slipped 102.20 points, or 0.12 percent, to close at 84,961.14. During the session, the index fell as much as 446 points as selling intensified in the afternoon. The NSE Nifty also ended lower, declining 37.95 points, or 0.14 percent, to settle at 26,140.75.
Geopolitical tensions weigh on sentiment
Market participants remained cautious as global geopolitical concerns continued to create uncertainty. Investors were also worried about fresh threats of tariff hikes by the US, which could impact global trade and economic growth. These concerns reduced risk-taking appetite and led to selective buying across sectors.
Experts said investors preferred to stay on the sidelines and focus only on select stocks with strong fundamentals, rather than making broad-based investments.
Foreign investors continue selling
Persistent selling by foreign institutional investors (FIIs) further dragged the markets. According to exchange data, FIIs sold shares worth Rs 107.63 crore on Tuesday. In contrast, domestic institutional investors (DIIs) provided some support by purchasing stocks worth Rs 1,749.35 crore.
Analysts said foreign investors remain cautious due to global trade uncertainty and upcoming key data from the US, including jobs numbers.
Mixed performance among Sensex stocks
Among Sensex stocks, shares of Maruti, Power Grid, Tata Motors Passenger Vehicles, HDFC Bank, Asian Paints and Tata Steel were among the biggest losers. On the other hand, Titan, HCL Tech, Tech Mahindra, Infosys and Tata Consultancy Services managed to end higher, supported by buying interest in select IT and consumer stocks.
Global markets send mixed signals
Asian markets showed mixed trends. South Korea’s Kospi and China’s Shanghai Composite ended higher, while Japan’s Nikkei and Hong Kong’s Hang Seng closed lower. European markets were mostly trading in the red during Indian market hours, while US markets ended higher on Tuesday.
Meanwhile, Brent crude prices fell 0.81 percent to USD 60.21 per barrel, offering some relief on the inflation front.
