MUMBAI– Indian equity markets ended lower on Wednesday after a volatile session, as early gains were erased amid cautious investor sentiment and mixed global cues. The Sensex fell 153 points, or 0.19 percent, to close at 81,773.66, while the Nifty declined 62 points, or 0.25 percent, to settle at 25,046.15.
Analysts said the Nifty opened on a firm note but was unable to sustain momentum beyond its immediate resistance near 25,200, triggering broad-based profit booking in banking, auto, FMCG, and realty stocks. The index later touched a weekly low of 25,008, where buyers stepped in near the psychological 25,000 level.
Although there were brief recoveries during mid-session, renewed selling pressure emerged around 25,130–25,150, forming a pattern of lower highs and lower lows on intraday charts.
Broader markets mirrored the weakness, with the Nifty Midcap 100 declining 0.73 percent and the Smallcap 100 down 0.52 percent.
Among sectors, IT and Consumer Durables were the day’s bright spots. The Nifty IT index gained 1.51 percent, supported by strong buying in heavyweights such as Infosys, TCS, LTIMindtree, Coforge, HCLTech, and Tech Mahindra.
Conversely, Realty, Media, Auto, and Energy indices each dropped more than 1 percent, while Nifty Bank, FMCG, Financial Services, Pharma, Metal, and Oil & Gas also ended lower by up to 1 percent.
“The indices witnessed a volatile session, tempered by profit booking after a sharp rally. Investor caution dominated ahead of the Q2 earnings season as participants reassessed valuations and growth prospects,” said market experts.
They added that heightened global uncertainty and the ongoing U.S. government shutdown have driven gold to record highs, underscoring risk aversion in global markets. Investors are now awaiting the September Federal Open Market Committee (FOMC) minutes for clues on the Federal Reserve’s next policy move.
Analysts noted that in the near term, market focus will likely shift toward domestic corporate earnings, macroeconomic data, and festive season trends. (Source: IANS)
