The key equity benchmarks traded with marginal losses in mid-morning trade amid weak global cues. Investor sentiment remained under pressure as the rupee weakened further amid uncertainty in West Asia. Persistent inflationary concerns and weakness in bond markets also weighed on market sentiment. Nifty traded below the 23,600 level.
The FMCG shares declined for third consecutive trading session.
At 11:25 IST, the barometer index, the S&P BSE Sensex declined 138.13 points or 0.19% to 75,055.93. The Nifty 50 index fell 29.60 points or 0.12% to 23,589.95.
In the broader market, the BSE 150 MidCap Index shed 0.43% and the BSE 250 SmallCap Index dropped 0.55%.
The market breadth was positive. On the BSE, 1,761 shares rose and 1,991 shares fell. A total of 227 shares were unchanged.
In the foreign exchange market, the rupee lowered against the dollar. The partially convertible rupee was hovering at 96.8400 compared with its close of 96.7000 during the previous trading session. It also touched an all-time intraday low of 96.9575 in early trade.
In the commodities market, Brent crude for July 2026 settlement declined 34 cents or 0.31% to $110.94 a barrel.
The United States 10-year bond yield declined 0.15% to 4.667 while 30-year Treasury bond yield rose 0.04% at 5.183%.
Buzzing Index:
The Nifty FMCG index fell 0.85% to 50,449.20. The Index tumbled 1.18% in the three consecutive trading sessions.
Zee Entertainment Enterprises (down 5.91%), PVR Inox (down 1.38%), Sun TV Network (down 1.02%), Network 18 Media & Investments (down 0.96%) and Nazara Technologies (down 0.58%) were the top losers. Among the other losers were D B Corp (down 0.51%), Hathway Cable & Datacom (down 0.49%).
Stocks in Spotlight:
Hindalco Industries rose 3.23% after its wholly owned US-based subsidiary Novelis reported improved operating profitability for the fourth quarter of fiscal year 2026. Hindalco shares also gained after a report suggested that the stock could be included in the Sensex during the June 2026 rejig
Dynamatic Technologies tumbled 6.85% after the company reported a 21.93% decline in consolidated net profit to Rs 12.56 crore in Q4 FY26, compared with Rs 16.09 crore in the corresponding quarter of the previous year. Revenue from operations rose 13.78% year-on-year to Rs 433.16 crore in the quarter ended 31 March 2026.
Global Markets:
Asia markets declined on Wednesday as investors weighed elevated bond yields and renewed geopolitical tensions, following U.S. President Donald Trump's statement on Tuesday that he was 'an hour away' from deciding to attack Iran, before he was persuaded to postpone the strike for a few days.
Yields on U.S. Treasurys advanced as investors continued to dump bonds on fears inflation is reigniting. The longer-dated 30-year Treasury bond yield marked its highest level since July 2007.
Overnight on Wall Street, stocks closed lower with the S&P 500 posting its third straight losing session, as a jump in bond yields threatened the bull market.
The S&P 500 closed down 0.67%, ending at 7,353.61, while the Nasdaq Composite finished 0.84% lower at 25,870.71. The Dow Jones Industrial Average shed 322.24 points, or 0.65%, to close at 49,363.88.
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