MUMBAI: India’s equity benchmarks inched lower on Wednesday as losses in Reliance Industries and metals overpowered gains in consumer stocks, while investors remained on the sidelines amid uncertainty over US tariffs.
The Nifty 50 fell 0.18% to 25,476.1 points, while the BSE Sensex lost 0.21% to 83,536.08.
The broader small-caps rose 0.6%, while the mid-caps ended 0.1% lower.
Nifty 50 heavyweight Reliance Industries fell 1.2% after Reuters reported its telecom arm, Reliance Jio Platforms, will not launch an IPO this year as planned, delaying one of India’s most anticipated stock offerings.
In tariff-related news, US President Donald Trump said on Tuesday that he would impose a 50% tariff on imported copper and roll out long-threatened levies on semiconductors and pharmaceuticals.
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