Share Market Live Today: Indian benchmark equity indices trimmed some losses from the day’s low but continued to trade under pressure, weighed down by declines in auto and banking stocks.
As of 2:00 PM, the Nifty50 was trading 1.28 per cent or 306 points down at 23,957.05, and the Sensex was trading 1.35 per cent or 1,058.79 points down at 77,147.19.
Market volatility remained elevated, with the Nifty India Volatility Index (VIX) rising 10.5 per cent to 20.83, indicating increased caution among investors.
Among Nifty50 constituents, Bajaj Finance, Mahindra & Mahindra, Axis Bank, Bajaj Finserv, and Bharti Airtel were the top losers.
The broader markets showed mixed trends, with the Nifty MidCap index declining 0.31 per cent, while the Nifty SmallCap index edged 0.51 per cent higher.
Sectorally, the Nifty Auto index was the worst performer, falling around 2 per cent, while the Nifty Financial Services and Nifty Private Bank indices also lagged the broader market.
On the other hand, healthcare stocks outperformed, with the Nifty MidSmall Healthcare and Nifty Pharma indices trading higher during the session.
Markets in the Asia-Pacific region were trading higher in early trade on Wednesday as oil prices declined significantly from Monday’s peak of $120 per barrel. South Korea’s Kospi and Japan’s Nikkei 225 were trading 3.26 per cent and 2.05 per cent higher, respectively.
Overnight, most US indices closed lower as investors weighed the possibility of an end to the US-Iran war amid new military threats. They also exercised caution ahead of the release of CPI data.
The S&P 500 and the Dow Jones Industrial Average ended 0.21 per cent and 0.07 per cent down, respectively.
Brent crude futures declined in Asia session as the International Energy Agency (IEA) proposed the largest ever oil release to mitigate the supply disruption due to the US-Iran conflict. Moreover, US President Donald Trump also pledged protection to tankers passing through the Strait of Hormuz, which further eased concern.
Brent crude’s May future contract was trading 3.64 per cent down at $87.83 per barrel.
Gold and silver futures were trading slightly lower on Wednesday.
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