Indian equities gave up a strong opening and ended lower on Wednesday, the first session after the Dussehra holiday, as heavy selling in midcap and smallcap stocks overshadowed IT gains. Nifty 50 fell 77.60 points, or 0.34%, to close at 22,811.35, after rising to 23,120.90 in early trade, while Sensex slipped 143.21 points, or 0.19%, to settle at 73,709.69.
Sentiment was upbeat at the open as positive global cues and the launch of the Jio Platforms IPO, expected to be India's largest, encouraged buying. However, investors booked profits at higher levels, while Brent crude remained above $110 per barrel amid tensions around the Strait of Hormuz, keeping market sentiment cautious.
The broader market bore the brunt, with Nifty Smallcap 100 falling about 2.5% and the midcap index declining nearly 2%. IT was the biggest gainer, gaining about 2%, led by Infosys, Tech Mahindra, TCS, and HCL Tech. Bajaj Finance, Eternal, Eicher Motors, Nestle, and Trent were among the biggest losers, while Autos, Chemicals, and Financials also weighed. Breadth was deeply negative, with 608 stocks advancing, 2,988 stocks declining, and 102 remaining unchanged. Investors will track the Jio IPO subscription and quarterly earnings.
Buy: Hexaware Technologies Limited (current price: ₹600)
Indian equity markets ended Wednesday's session on a weak note, with Nifty 50 declining 77.60 points (0.34%) to 22,811.35, reflecting persistent selling pressure across most sectors. The benchmark opened higher at 23,016 and touched an intraday high of 23,120.90 before reversing sharply to a low of 22,649.90. Although the index remained below its previous closing level of 22,888.95, a modest recovery toward the close helped limit losses.