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Benchmark equity indices, BSE Sensex and Nifty50, were trading sharply lower on Wednesday, reflecting mixed global cues
Stock Market Today
Sensex Today: Benchmark Indian equity indices, BSE Sensex and NSE Nifty50, closed in the red on Wednesday after a volatile session. The BSE Sensex ended at 76,171.08, down by 122.52 points, or 0.16%, from its previous close. The 30-share index fluctuated between 76,459.72 and 75,388.39 during the day.
The NSE Nifty50 finished lower by 26.55 points, or 0.12%, at 23,045.25. The index hit an intraday high of 23,144.70 and a low of 22,798.35.
In the broader markets, the Nifty Midcap100 and Nifty Smallcap100 indices both ended with losses of 0.26% each.
V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services, noted, “Trump’s tariff actions have been affecting markets for several days. His shift from targeting specific countries like Mexico, Canada, and China to imposing blanket tariffs on steel and aluminum imports has heightened concerns. The European Union’s response, threatening counter tariffs, increases the likelihood of a full-scale trade war, though its outcome remains uncertain.
It’s crucial to recognize that despite his power, President Trump cannot alter economic laws. Should higher tariffs lead to inflation in the U.S. and the Fed adopts a hawkish stance, the U.S. stock market could suffer, which would ultimately rein in Trump. However, this process will take time. Meanwhile, market volatility is expected to persist.
Investors should take advantage of the current market weakness to shift from mid- and small-cap stocks, which remain overvalued, to large-cap stocks that are fairly valued. While the market is in oversold territory and a rebound seems probable, foreign institutional investors (FIIs) are likely to sell into any rally, capping the potential upside.”
Global Cues
Asia-Pacific markets opened mixed on Wednesday after Federal Reserve Chair Jerome Powell indicated there was no immediate need to cut interest rates.
On Wall Street, the major indexes closed in opposite directions on Tuesday. While gains in Coca-Cola and Apple helped offset losses in Tesla, investors digested Powell’s latest remarks. The S&P 500 gained 0.03%, ending the session at 6,068.50 points. The Nasdaq fell 0.36% to 19,643.86 points, while the Dow Jones Industrial Average rose 0.28% to 44,593.65 points.
Oil prices dropped on Wednesday, as an industry report revealed an increase in U.S. crude stockpiles. Tariff concerns also weighed on market sentiment, erasing gains made over the past three days due to rising tensions in the Middle East and intensifying sanctions.
