The domestic benchmark indices extended their losses for the third day on Wednesday as surging crude prices and a weakening rupee continued to dampen investor sentiment.
The 30-share BSE Sensex plummeted 715.06 points, or 0.92 per cent, to settle at 76,755.05, and during the day had touched a low of 76,641.19. The 50-share NSE Nifty too declined 191.45 points, or 0.79 per cent, to end at 23,996.25.
The Sensex had dipped 85.16 points to 77,384.95 at the opening, while the Nifty had slipped to 24,150.45 losing 37.25 points, from the previous close.&nbsp;
<h2>The gainers and the laggards</h2>
Among the Sensex pack, Hindustan Unilever, NTPC, Power Grid, and Titan were among the gainers. InterGlobe Aviation, Infosys, State Bank of India, UltraTech Cement, ICICI Bank, and Axis Bank were among the laggards. InterGlobe Aviation&rsquo;s shares fell 3.57 per cent. &nbsp;
&ldquo;Indian equities ended lower as the ongoing <a href="https://www.mid-day.com/news/world-news/article/us-iran-war-us-bombs-southern-iran-as-tehran-strikes-american-sites-across-gulf-23640959" target="_blank" rel="none noopener">US-Iran standoff</a> and Houthi-led disruptions to key global shipping routes heightened concerns over potential oil supply disruptions, driving crude prices higher and weakening the rupee. The risk-off sentiment due to renewed concerns over domestic inflation overshadowed better-than-expected business updates and encouraging Q1 earnings results,&rdquo; Vinod Nair, Head of Research, Geojit Investments said.
&ldquo;Rate-sensitive sectors such as realty, banking, and consumer durables led the decline, while <a href="https://www.mid-day.com/business/stock-market/article/pharma-stocks-decline-on-us-tariff-on-generic-drug-imports-aurobindo-pharma-down-over-4-per-cent-23641012" target="_blank" rel="none noopener">pharmaceutical stocks</a> came under pressure amid renewed uncertainty over proposed US tariff measures on pharmaceutical exports. Despite the cautious backdrop, FMCG and auto stocks emerged as relative outperformers, supported by strong quarterly earnings from sector leaders, highlighting investors' preference for companies delivering resilient earnings growth amid broader market volatility,&rdquo; he added.
On Tuesday, the 30-share BSE Sensex shed 238.41 points, or 0.31 per cent, to settle at 77,470.11, while the 50-share NSE Nifty was down by 50.80 points, or 0.21 per cent, to end at 24,187.70.
<h2>Macroeconomic factors&nbsp;</h2>
According to news agency PTI, Brent crude, the global oil benchmark, jumped 4.68 per cent to USD 95.27 per barrel.
&ldquo;Indian equities are expected to trade sideways with a marginal negative bias in the near term amid continued geopolitical tensions in West Asia, Brent <a href="https://www.mid-day.com/business/business-news/article/crude-oil-gains-nearly-1-per-cent-to-rs-8014-per-barrel-in-futures-trade-amid-geopolitical-uncertainties-23640879" target="_blank" rel="none noopener">crude prices </a>rising to near their five-week high of around USD 95 per barrel and continued Foreign Institutional Investor selling. Stock-specific action is likely to dominate as the earnings season progresses. While investors will closely monitor global macro developments, including the European Central Bank (ECB) interest rate decision and US jobless claims,&rdquo; Siddhartha Khemka Head of Research, Wealth Management, Motilal Oswal Financial Services said.
In Asian markets, South Korea&rsquo;s KOSPI and Shanghai&rsquo;s SSE Composite index ended higher, while Japan&rsquo;s Nikkei 225 index and Hong Kong&rsquo;s Hang Seng index settled lower, while Foreign Institutional Investors (FIIs) bought equities worth Rs 1,650.16 crore on Tuesday, as per PTI.
(With inputs from PTI)

Sensex slumped 715.06 points to settle at 76,755.05, while the Nifty declined 191.45 points to end at 23,996.25

Sensex tanks 715.06 points, Nifty declines 191.45 points amid rising oil prices

Eternal Q1FY27 net profit jumps nearly four-fold to Rs 92 crore

The 30-share BSE Sensex plummeted 715.06 points, or 0.92 per cent, to settle at 76,755.05, and during the day had touched a low of 76,641.19. The 50-share NSE Nifty too declined 191.45 points, or 0.79 per cent, to end at 23,996.25

Market continues to bleed; Sensex, Nifty lose nearly 1 per cent

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Home / Business / Business News / Article / Market continues to bleed; Sensex, Nifty lose nearly 1 per cent