Synopsis : Indian equity markets opened in the red on Wednesday, tracking global weakness after US inflation data rattled investor confidence. Major sectors slipped into negative territory, with financials and auto stocks leading the declines.
.png "Market Mood Sours: Sensex Slips 150+ Points, Nifty Below 25,150 Amid Global Headwinds")
Indian benchmark indices opened lower on Wednesday, ending the recent relief rally as global sentiment turned cautious following a rise in US inflation. The Sensex dropped over 150 points, while the Nifty slipped below the 25,150 mark, weighed down by heavyweights like Reliance Industries and ICICI Bank.
The downturn comes after a brief market rebound on Tuesday, which had ended a four-day losing streak fueled by softer domestic inflation numbers. However, the renewed concerns about the global inflation outlook, especially from the US, reignited selling pressure across sectors.
Out of the 13 major sectoral indices, nine declined in early trade. Nifty Auto remained under pressure with Exide Industries, Mahindra & Mahindra (M&M), and Ashok Leyland among the top losers. Nifty Metal and Financial Services also saw marginal declines.
In the Sensex basket, notable laggards included M&M, Tata Motors, Tata Steel, and ICICI Bank, while Trent, Tech Mahindra, HDFC Bank, Adani Ports, and Infosys offered slight support with modest gains.
Top Trades of the Day:
HDB Financial fell 4% after its Q1 profit declined 2% YoY to ₹568 crore, marking a new low.
Dixon Technologies surged 4% after announcing a 51% acquisition in Q Tech India.
HDFC Life gained 2% post a 14% YoY jump in Q1 profit to ₹546 crore, with net premium income up 16%.
PVR Inox dropped 2% after Karnataka proposed a cap on movie ticket prices at ₹200.
Global Market Snapshot:
S&P 500 futures down 0.1%
Japan’s Topix flat
Australia’s ASX 200 fell 0.8%
Hong Kong’s Hang Seng rose 0.3%
Shanghai Composite slipped 0.1%
Euro Stoxx 50 futures down 0.1%
With key corporate earnings on the horizon and global macroeconomic indicators driving uncertainty, market participants remain cautious.
Disclaimer : This article is for informational purposes only and does not constitute financial advice. Please consult a financial advisor before making any investment decisions.
.png)
