Indian stock markets ended on a subdued note on Wednesday, with the Sensex declining and the Nifty closing nearly flat as banking and financial stocks dragged the indices lower amid global uncertainty.
The NSE Nifty 50 index settled at 23,907.15, down 6.55 points or 0.03 per cent, while the BSE Sensex declined 141.90 points or 0.19 per cent to close at 75,867.80.
Market experts said benchmark indices remained trapped in a narrow range, though midcap stocks continued to outperform on the back of improving domestic inflows.
Sector-wise, markets witnessed mixed trends on the NSE. Nifty Auto emerged among the top gainers, rising 1.77 per cent, while Nifty Media surged more than 3 per cent and Nifty Metal advanced 1.68 per cent. Nifty Pharma and Nifty PSU Bank also ended in positive territory.
However, banking and financial stocks weighed on the benchmark indices. Nifty Financial Services fell 0.73 per cent, Nifty Private Bank slipped 0.40 per cent and Nifty Oil and Gas declined 0.21 per cent. Nifty FMCG and Nifty IT also closed marginally lower.
On the commodities front, Brent crude prices continued to ease and remained below the USD 100 per barrel mark, trading around USD 96 per barrel. However, prices stayed elevated compared to historical averages amid lingering concerns over the geopolitical situation in West Asia.
The Indian rupee traded largely stable at Rs 95.63 against the US dollar during the session.
Gold prices remained under pressure, declining 0.33 per cent to Rs 1,57,100 per 10 grams for 24-karat gold, while silver prices slipped 0.82 per cent to Rs 2,68,400 per kilogram.
Among Asian markets, Japan’s Nikkei 225 index closed 0.52 per cent higher, Taiwan’s weighted index gained 1.65 per cent and South Korea’s KOSPI surged more than 2 per cent. However, Hong Kong’s Hang Seng index ended 1.12 per cent lower, while Singapore markets remained shut for a public holiday.
