Synopsis : Indian markets extended their three-day losing streak as investors stayed cautious ahead of the RBI’s upcoming policy announcement.
Weak sentiment driven by FII outflows, a record-low rupee, and pressure on banking stocks pulled benchmark indices sharply lower.
Stock Market LIVE : Sensex & Nifty Continue Slide, Kotak Bank and HUL Lead Declines
India’s benchmark indices moved further into the red on Wednesday, with the Sensex falling over 350 points and the Nifty slipping below 26,950, marking the fourth consecutive session of losses. The decline comes as investors adopt a risk-off stance ahead of the Reserve Bank of India's monetary policy decision.
Profit-taking near record highs, combined with persistent foreign investor selling, added to the downward pressure. FIIs offloaded equities worth ₹3,642.30 crore, while domestic institutional investors provided support with net purchases of ₹4,645.94 crore.
Sector & Stock Highlights
Top drags : Kotak Bank, HUL, BEL, Titan, Tata Motors PV, NTPC, SBI
Top gainers : TCS, Infosys, Tech Mahindra, ICICI Bank
Rupee weakness : The Indian rupee slid to a fresh all-time low of 90.05 against the US dollar
Sectoral performance :
Weak: PSU banks, financial services, metals
Gaining: IT sector
Mild decline: Consumer durables, healthcare, FMCG
Pressure on banking and financial counters, coupled with currency volatility, added to overall market unease. IT stocks outperformed amid global tech resilience, offering some support to the indices.
As investors await cues from the RBI’s policy outlook, markets are likely to remain volatile, with macroeconomic signals and global movements playing a key role.
Disclaimer : This article is for informational purposes only and should not be considered financial advice. Always consult a certified financial advisor before making investment decisions.
