• Source:JND

Stock Market Today: The domestic equity market started the session in negative territory on Wednesday as investors remained cautious amid uncertainty around Iran-US peace talks. The 30-share BSE index--Sensex--opened nearly 200 points lower at 79,019.34 as compared to the last closing of 79,273.33, while NSE's Nifty50 started trading at 24,470.85 against the last day's closing of 24,576.60.

The key indices extended the losing momentum further amid selling in IT, banking, finance and other heavyweights. At the time of writing, Nifty was trading at 24,440.55, down 136.05 points or 0.55 per cent. Sensex was quoted at 78,756.25, down 517.08 points or 0.65 per cent.

"The declaration of an indefinite ceasefire by President Trump and Iran’s indifferent and suspect response to it means the uncertainty will continue. Anything can happen any time," said Dr VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited.

Top Losers And Gainers

From the Sensex basket, HCL Tech, Tech Mahindra, Infosys, TCS, ICICI Bank, BEL, L&T, ITC, Mahindra and Mahindra, SBI, Eternal, Asian Paints, HDFC Bank, Indigo, and Kotak Bank were the top losers. Hindustan Unilever, NTPC, Ultratech Cement, and Tata Steel were quoted in green.

Sectoral And Broader Indices

At the sectoral front, Nifty IT was down over 2 per cent amid persistent selling pressure due to the threat of business loss from AI tools. Nifty Bank and Nifty Fin Services were trading down. While Nifty FMCG was up 0.4 per cent, Nifty Auto was flat.

Major Broader indices showed a mixed approach in early trade. Nifty Midcap 100 was trading flat, while Nifty Small Cap 100 quoted in green. Nifty 100 was trading down, while Nifty Next 50 was quoted up.

"Indian equity markets are trading with a mildly negative bias, weighed down by sharp weakness in the IT sector. The sector has declined more than 3%, with HCLTech falling nearly 9% after subdued earnings, significantly dragging overall sentiment. At the same time, uncertainty remains elevated around the outcome of the next round of U.S.–Iran negotiations, keeping investors on edge and limiting aggressive positioning," said Ponmudi R, CEO of Enrich Money. 


Also In News