MUMBAI, Dec 17: Indian stock markets fell for the third consecutive day on Wednesday, as sustained foreign fund outflows weighed on investor sentiment.
The BSE Sensex closed 120.21 points lower at 84,559.65, while the NSE Nifty fell 41.55 points to 25,818.55, both marking a week’s low.
During the day, the Sensex dropped as much as 263.88 points to 84,415.98. Foreign Institutional Investors (FIIs) sold equities worth Rs 2,381.92 crore on Tuesday, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 1,077.48 crore.
Among Sensex stocks, Trent led losses with a 1.61% decline, followed by HDFC Bank, ICICI Bank, Adani Ports, Bajaj Finserv, Bharat Electronics, Titan, and Asian Paints.
State Bank of India rose 1.51%, while Infosys, Axis Bank, and Maruti also gained, helping limit broader losses.
Sectoral performance was mixed, with capital goods down 0.96%, realty 0.81%, consumer durables and industrials 0.76%, and services 0.64%.
BSE smallcap and midcap indices fell 0.85% and 0.53%, respectively, while energy, IT, metal, oil & gas, and focused IT indices recorded gains.
Analysts said selling in heavyweight stocks, cautious sentiment toward emerging markets, and muted global cues drove the declines.
The rupee rebounded sharply in early trade, rising over 1% to 89 against the US dollar before paring gains to close at 90.38.
Globally, Asian markets including South Korea’s Kospi, Japan’s Nikkei, Shanghai’s SSE, and Hong Kong’s Hang Seng ended higher, while European markets traded in positive territory.
Brent crude surged 2.12% to USD 60.17 per barrel. US markets ended mostly lower on Tuesday, adding to the cautious global backdrop.
Market experts expect limited upside potential amid sustained foreign outflows and global uncertainty. (AP)
