Indian equity markets experienced a downturn during midday trading on Wednesday, with the Sensex and Nifty both showing negative momentum as investors remain cautious ahead of key economic signals.
The Sensex, which opened at 80,666.26, has declined by 482.68 points, trading at 80,201.77, representing a 0.60 per cent drop. Similarly, the Nifty has retreated to 24,200.25, losing 135.75 points or 0.56 per cent from its morning opening of 24,297.95.
Broader market indices also reflect the prevailing negative sentiment. The Nifty Next 50 has fallen 788.55 points (1.09 per cent) to 71,399.45, while the Nifty Midcap Select index dropped 36.50 points (0.28 per cent) to 13,054.60. The Nifty Bank and Nifty Financial Services indices have experienced significant declines of 1.11 per cent and 1.10 per cent respectively.
The market breadth indicates widespread selling pressure. Out of 3,994 stocks traded on the BSE, 2,408 stocks have declined compared to 1,465 advancing. Market participants noted 225 stocks hitting 52-week highs and 30 touching 52-week lows. Notably, 299 stocks are in the upper circuit while 209 are in the lower circuit.
Sectoral performance reveals mixed trends. Dr Reddy’s Laboratories led the gainers, up 2.20 per cent, followed by Cipla at 1.85 per cent, Trent at 1.27 per cent, Wipro at 0.97 per cent, and Sun Pharma at 0.86 per cent. Conversely, Bharat Electronics (BEL) emerged as the top loser, dropping 2.59 per cent, with Tata Motors falling 2.21 per cent, Power Grid declining 2.17 per cent, JSW Steel retreating 1.74 per cent, and NTPC down 1.63 per cent.
With trading still ongoing, investors continue to monitor global cues, upcoming economic announcements, and potential shifts in market sentiment. The current midday performance suggests a cautious trading environment with ongoing volatility.
