Stock market today: Indian equity benchmark indices, BSE Sensex and Nifty50, opened in red on Wednesday. While BSE Sensex was below 75,800, Nifty50 was near 22,900. At 10:39 AM, BSE Sensex was trading at 75,751.09, down 543 points or 0.71%. Nifty50 was at 22,918.35, down 153 points or 0.67%.
Indian equity markets declined for the fifth straight session on Tuesday, experiencing significant selling pressure due to growing tariff worries and poor corporate results, affecting overall market sentiment.
“Also, PM Modi’s two-day US visit starting Wednesday comes at a crucial moment. As he meets Trump to discuss trade, markets anticipate a breakthrough that could ease tariff tensions and restore confidence,” said Siddhartha Khemka, Head – Research, Wealth Management, Motilal Oswal.
Daily charts reveal a prominent bearish trend with lower peaks and troughs, with Nifty moving towards forming a new lower bottom beneath January’s swing low of 22,786 levels. Any upward movement might encounter strong resistance near 23,200 levels, according to Nagaraj Shetti of HDFC Securities.
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US stock indices showed varied results on Tuesday as gains in Coca-Cola and Apple balanced Tesla’s decline, whilst investors analysed Federal Reserve Chair Jerome Powell’s recent statements.
Asian markets showed mixed performance, with Japan’s stocks advancing while Australian shares remained flat before US inflation data release on Wednesday. Hong Kong’s stock index futures indicated upward movement.
Gold prices decreased on Wednesday, following its record peak in the previous session driven by global trade tensions from US President Donald Trump’s tariff announcements. Markets now await crucial US inflation data.
FPIs registered net sales of Rs 4,486 crore on Tuesday, whilst domestic institutional investors purchased shares worth Rs 4002 crore.
FIIs’ net short positions increased to Rs 1.84 lakh crore on Tuesday from Rs 1.73 lakh crore on Monday.