India’s equity benchmarks fell for a fourth consecutive session on Wednesday, as a delay in the trade deal with the United States and the rupee’s slide to a record low dented sentiment.
The Nifty fell 0.18% to 25,986 and the Sensex shed 0.04% to 85,106.81. The indexes have lost 0.9% and 0.7%, respectively, in four sessions after hitting all-time highs on November 27.
NSE provisional data showed foreign outflows from the Indian equity market totalled 98.64 billion rupees (about $1.1 billion) in the last four sessions.
Meanwhile, the rupee slipped past the 90 per U.S. dollar mark to a record low on foreign selling.
“Foreign investors continue to take money off the table despite solid GDP number for last quarter. This is partly due to weak industrial output and Goods and Services Tax (GST) collection data for October, and lack of certainty on trade deal with the U.S,” said Anita Gandhi, founder and head of institution at Arihant Capital Markets.
Focus is now on the Reserve Bank of India’s policy decision on Friday, amid expectations that robust GDP growth data might lead to interest rates being held.
Eleven of the 16 major sectors declined. The broader small-caps and mid-caps fell about 0.7% and 1%, respectively.
Public sector banks slid 3.1% in their sharpest drop since May 6, 2025 after the government said it is not considering increasing the limit on foreign direct investment for the sector to 49% and there was no proposal on merger or disinvestments. The index has risen 26% in last three months.
Information technology shares bucked the trend, rising 0.8% after Motilal Oswal said “the valuation set up for IT remains highly attractive”. The brokerage upgraded ratings on Infosys, Wipro, Mphasis, and Zensar Tech.
ICICI Bank and HDFC Bank rose 1.4% and 1.1%, respectively, recovering some of the losses from previous session.
Comments
Comments are closed for this article.