Nifty Falls for Seventh Day: Nifty Extends Losing Streak to Seven Sessions
Indian equity markets remained under pressure as global uncertainty and weak overseas cues dragged benchmarks lower, with Nifty slipping below 24,100 and Sensex falling over 325 points.
Nifty Falls for Seventh Day: Indian stock markets ended lower on Wednesday, extending the recent spell of weakness. The Nifty closed in the red for the seventh consecutive trading session as investors remained cautious amid uncertainty across global markets.
The Sensex opened at 77,218.05, slightly below its previous close of 77,235.46. Selling pressure increased during the session, taking the index to an intraday low of 76,822.89. It eventually finished at 76,909.68, down 325.78 points.
The Nifty also remained under pressure throughout the day. The index lost 76.60 points and settled at 24,078, moving below the closely watched 24,100 mark.
Weak signals from international markets continued to weigh on investor sentiment. Ongoing global uncertainty and pressure in overseas markets made traders cautious, leading to selling in several major stocks.
Among the Sensex constituents, Power Grid Corporation, Bajaj Finance, Larsen and Toubro, ITC and Hindustan Unilever ended lower. Their declines added to the pressure on the benchmark index.
Some stocks managed to buck the broader trend. HCL Technologies, Eternal, Kotak Mahindra Bank, Sun Pharma and Titan finished with gains, providing limited support to the market.
Currency and commodity movements also remained in focus. The rupee was trading at 95.75 against the US dollar. In the global commodity market, Brent crude moved around the 91 dollar per barrel level, while gold was quoted near 4,368 dollars an ounce.
The continued decline in the Nifty highlights the cautious mood among investors. Market participants are now likely to watch global developments, crude prices, currency movements and fresh institutional activity for signs of a change in direction.
