MUMBAI, India — Indian equity benchmarks closed lower for the third consecutive session on Wednesday, dragged down by sustained selling in media, real estate, and consumer durables stocks, which continued to pressure overall market sentiment.
The benchmark Sensex ended the session at 84,559.65, down 120.21 points, or 0.14%. The Nifty 50 also finished in negative territory, slipping 41.55 points, or 0.16%, to close at 25,818.55.
Market analysts said near-term technical levels remain crucial. As long as the Nifty stays below the 25,900–26,000 resistance zone, any upward move is likely to face selling pressure. The 25,700–25,750 range is seen as key support, with a daily close below 25,700 potentially extending the correction toward the 25,550–25,400 levels.
Despite the broader weakness, several heavyweight stocks ended higher. Shares of State Bank of India, Infosys, Axis Bank, Sun Pharma, Maruti Suzuki, Tata Consultancy Services, and Tata Steel gained up to 1.5%, helping limit losses in the benchmark indices.
However, stocks including Trent, ICICI Bank, HDFC Bank, and Bajaj Finserv weighed on the market, contributing to the overall decline.
The broader market underperformed the benchmarks. The BSE MidCap index fell 0.54%, while the SmallCap index declined 0.73%, reflecting continued risk aversion among investors.
On the sectoral front, media stocks recorded the sharpest losses, with the Nifty Media index dropping 1.7%. Consumer durables, real estate, and chemical stocks also ended lower. In contrast, PSU bank and IT stocks closed in positive territory, providing some support.
In commodities, silver prices extended their strong rally. March silver futures on the Multi Commodity Exchange touched fresh record highs, trading near the Rs 2,05,665 level.
Meanwhile, the Indian rupee recovered against the U.S. dollar during the session, aided by intervention from the Reserve Bank of India. The currency strengthened from recent lows to trade around the 90-per-dollar level, snapping a multi-day losing streak.
Analysts said cautious investor sentiment and sector-specific selling continued to cap market performance, even as selective stock gains and supportive moves in currency and commodity markets offered limited relief. (Source: IANS)
