Indian equity markets traded lower during mid-day trading on Wednesday, with the benchmark BSE Sensex falling 398.60 points or 0.49 per cent to 81,421.52 at 12:33 PM. The broader NSE Nifty declined 118.75 points or 0.47 per cent to 24,938.60.
The market weakness followed a broader global selloff in technology stocks, particularly after disappointing results from European semiconductor manufacturer ASML and concerns over chip sales restrictions affecting companies like Nvidia.
Among sectoral indices, Nifty Financial Services showed resilience, gaining 51.95 points or 0.22 per cent to reach 23,915.40. The banking sector remained relatively stable, with Nifty Bank recording a marginal decline of 0.05 per cent to 51,878.30. The Nifty Midcap Select index was down 0.18 per cent at 13,128.60.
Market breadth remained negative, with 1,894 stocks declining compared to 1,836 advances on the BSE. Trading activity showed 275 stocks hitting upper circuit limits while 175 stocks touched lower circuits. Notable was the presence of 227 stocks reaching 52-week highs, while only 19 stocks hit 52-week lows.
HDFC Life emerged as the top gainer on the NSE, rising 2.20 per cent, followed by Grasim at 1.22 per cent. Other significant gainers included HDFC Bank advancing 1.13 per cent, Bajaj Auto up 1.03 per cent, and Dr. Reddy’s Laboratories gaining 1.01 per cent.
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On the losing side, retail chain Trent led the decline with a 3.30 per cent drop. Automotive manufacturer Mahindra & Mahindra fell 2.92 per cent, while FMCG giant Nestle India decreased by 1.97 per cent. Two-wheeler manufacturer Hero MotoCorp shed 1.74 per cent, and watch-to-jewelry maker Titan Company declined 1.53 per cent.
The market displayed mixed trends across segments, with the Nifty Next 50 dropping 361.25 points or 0.48 per cent to 75,498.60. The session saw active trading with 3,872 stocks being traded on the BSE by 12:33 PM.
The markets opened lower at 81,646.60 for Sensex compared to the previous close of 81,820.12, while Nifty began at 25,008.55 versus Tuesday’s close of 25,057.35, reflecting the broader negative sentiment in global markets.