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Indian equity markets closed in the red on Wednesday, snapping recent gains as investors booked profits in key sectors. The BSE Sensex declined by 176.30 points or 0.21 per cent to settle at an indicative level of 83,536.21. Meanwhile, the NSE Nifty50 slipped 58.15 points or 0.23 per cent, ending the session at 25,464.35. Weak global cues and selective selling in heavyweight stocks weighed on market sentiment throughout the day.

Among the major Nifty laggards were Tata Steel, HCL Technologies, Hindalco Industries, Reliance Industries, and Bharat Electronics, which dragged the index lower. On the other hand, Shriram Finance, Bajaj Finance, HUL, UltraTech Cement, and Coal India emerged as the top gainers for the day.

Across sectors, Metal, Realty, and Oil & Gas indices each declined by 1.4 per cent, while Media, IT, and PSU Bank indices slipped 0.5 per cent apiece. In contrast, select buying was seen in FMCG, Auto, and Consumer Durables, which rose between 0.3 per cent and 0.5 per cent.

In the broader market, the BSE Midcap index ended with a slight loss, while the Smallcap index gained 0.5 per cent, indicating some resilience in smaller stocks.

Previous Trading Session

In the previous trading session on Tuesday, Indian equity benchmarks ended trade on a positive note despite early volatility. The BSE Sensex rose 270.01 points, or 0.32 per cent, to close at 83,712.51, while the NSE Nifty50 added 63.20 points, or 0.25 per cent, to settle at 25,524.50. Market sentiment improved in the second half of the session, supported by selective buying in index heavyweights.

The Bank Nifty advanced nearly 60 basis points, led by strong gains in private sector bank stocks. Positive trends were also observed in the IT, real estate, and media sectors. However, selling pressure continued in pharma, PSU banks, and FMCG counters, which closed in the red. Meanwhile, market volatility moderated, with the India VIX falling 3 per cent to finish at 12.18.