Benchmark equity indices declined on Wednesday as investors adopted a cautious stance ahead of Q1 earnings from India Inc and the approaching tariff deadline.
The S&P BSE Sensex closed 287.60 points lower at 83,409.69, while the NSE Nifty50 lost 88.40 points to end at 25,453.40.
Vinod Nair, Head of Research at Geojit Financial Services, noted that mixed global cues and concerns over upcoming tariffs are prompting investors to remain guarded. He added that while robust macroeconomic indicators and government spending continue to provide support, markets are showing hesitation near key technical levels due to elevated valuations.
Top Gainers on Sensex:
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Tata Steel: +3.72%
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Asian Paints: +2.15%
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UltraTech Cement: +1.60%
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Trent: +1.43%
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Maruti Suzuki: +1.38%
Top Losers on Sensex:
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Bajaj Finserv: -2.10%
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Larsen & Toubro (L&T): -1.87%
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Bajaj Finance: -1.48%
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HDFC Bank: -1.30%
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Bharat Electronics: -1.28%
Broader Market:
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Nifty Midcap 100: -0.14%
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Nifty Smallcap 100: -0.41%
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India VIX (Volatility Index): -0.65% (indicating easing volatility)
Sectoral Performance:
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Gainers:
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Nifty Metal: +1.41%
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Nifty Consumer Durables: +1.04%
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Nifty Healthcare: +0.34%
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Nifty Auto: +0.32%
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Nifty Pharma: +0.32%
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Nifty IT: +0.12%
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Losers:
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Nifty Realty: -1.44%
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Nifty Financial Services: -1.09%
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Nifty Private Bank: -0.65%
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Nifty Media: -0.36%
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Nifty Oil & Gas: -0.17%
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Nifty FMCG: -0.12%
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Aditya Gaggar, Director at Progressive Shares, stated that Nifty50 tested its support at 25,400, while 25,600 remains a crucial resistance. A decisive breakout from either level could signal the next directional move for the index.
