The headline equity indices closed with minor losses today, snapping their four-day winning streak. Investors remained cautious ahead of Q2 earnings season. Market participants also kept a close watch on quarterly business updates and ongoing IPO activity. The Nifty settled below 25,050 mark after hitting day’s high of 25,192.50 in morning trade.
In the barometer index, the S&P BSE Sensex declined 153.09 points or 0.19% to 81,773.66. The Nifty 50 index fell 62.15 points or 0.25% to 25,046.15. In four consecutive trading sessions, the Sensex and Nifty jumped 2.07% and 2.02%, respectively.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index declined 0.74% and the S&P BSE Small-Cap index shed 0.42%.The market breadth was negative.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, advanced 2.61% to 10.31.
Among the sectoral indices, the Nifty IT index (up 1.51%), and the Nifty Consumer Durables index (up 0.71%) outperformed the Nifty 50 index.
Meanwhile, the Nifty Realty index (down 1.83%), the Nifty Media index (down 1.71%) and the Nifty Auto index (down 1.53%) underperformed the Nifty 50 index.
Numbers to Track:
The yield on India's 10-year benchmark federal paper shed 0.11% to 6.503 from the previous close of 6.510.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 88.8000 compared with its close of 88.7725 during the previous trading session.
MCX Gold futures for 5 December 2025 settlement rose 1.53% to Rs 122,964.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.34% to 98.94.
The United States 10-year bond yield declined 0.39% to 4.115.
In the commodities market, Brent crude for December 2025 settlement advanced 81 cents or 1.24% to $66.26 a barrel.
Global Markets:
European market advanced on Wednesday as investors reacted to proposed tariffs on steel imported into the European Union.
European Union announced plans on Tuesday to reduce tariff-free quotas on imported steel, and to hike tariffs from 25% to 50% on any excess imports.
Asia-Pacific markets ended mixed after the World Bank raised the region’s growth forecast Tuesday. Markets in Mainland China and South Korea are closed for the holidays.
The World Bank on Tuesday raised its 2025 growth forecast for China as part of an overall boost in projections for East Asia and the Pacific, after a summer that saw U.S. tariff-led uncertainty rock the global economy.
The World Bank now projects China’s economy to expand by 4.8%, compared with 4% predicted in April. The new forecast is closer to China’s official target of around 5% growth in gross domestic product in 2025.
A decline in China’s GDP by 1 percentage point lowers growth in the rest of developing East Asia and Pacific by 0.3 percentage points, according to World Bank estimates. With the China GDP upgrade, the region is expected to expand by 4.8% this year, versus 4% forecast earlier this year, according to the World Bank.
Overnight in the U.S., the three major averages closed lower. The S&P 500 struggled Tuesday, bogged down by a drop in Oracle shares as investors worry about the profitability of the artificial intelligence trade. Wall Street also looked for more developments out of Washington with the U.S. government shutdown in its second week.
The broad market index pulled back 0.38% to close at 6,714.59, snapping a 7-day winning streak, while the Nasdaq Composite fell 0.67% to finish at 22,788.36. The Dow Jones Industrial Average fell 91.99 points, or 0.2%, to end at 46,602.98.