Indian equities closed lower for the third straight session on Wednesday, as uncertainty around the U.S. Federal Reserve’s interest-rate path and weak global cues kept investors cautious.
The Sensex slipped 120 points, or 0.14%, to close at 84,559, while the Nifty 50 ended below the 26,850 mark, down 41 points at 25,818.
Losses on the Sensex were led by Trent, HDFC Bank, ICICI Bank, Adani Ports and Bajaj Finserv, each falling between 1 and 2 percent.
Sectorally, PSU banks outperformed, with the index gaining over 1 percent. However, that was offset by selling pressure in media stocks, which dropped 2 percent. Private banks, realty, FMCG, consumer durables and healthcare stocks also ended in the red.
The broader market remained under pressure, with mid-caps down 0.5 percent and small-caps falling 0.7 percent.
Globally, Asian markets were modestly positive, while US futures pointed to a slightly firmer open ahead of key US inflation data due on Thursday. Investors continue to price in two Fed rate cuts next year.
In commodities, oil prices jumped over 1 percent after US President Donald Trump ordered a blockade of sanctioned oil tankers linked to Venezuela, adding fresh geopolitical risk.
Back home, the rupee rebounded sharply, posting its strongest gain in nearly two months after RBI intervention. The currency settled at 90.38 against the dollar, up nearly 0.7 percent.
That’s all for today on ET Market Watch. Stay tuned for more updates.