CHENNAI: Indian equity markets ended lower on Wednesday (Oct 8), halting a four-day winning streak as investors booked profits amid mixed global cues. The BSE Sensex slipped 153 points, or 0.19 percent, to close at 81,773.66, while the NSE Nifty 50 declined 62 points, or 0.25 percent, to settle at 25,046.15.
Broader indices mirrored the weakness, with the BSE Midcap and Smallcap indices falling 0.7 percent and 0.4 percent, respectively.
Market sentiment turned cautious after recent gains, with most sectors ending in the red. Realty, oil & gas, auto, and PSU banks led the decline, while IT and consumer durables were among the few gainers.
Heavyweights such as Tata Motors, UltraTech Cement, ONGC, NTPC, and Jio Financial were among the top drags on the indices. On the positive side, Titan, Infosys, TCS, Tech Mahindra, and Bharti Airtel provided some support, posting modest gains.
The rupee remained largely unchanged at 88.79 per US dollar, with the Reserve Bank of India continuing to defend the 88.80 level to contain volatility. Global sentiment also weighed on domestic equities, as most Asian markets traded lower following a weak close on Wall Street.
According to market analysts the decline was largely driven by profit-taking and caution ahead of the September-quarter earnings season.
Market direction in the coming sessions is expected to be influenced by company results, global rate signals, and foreign fund flows. While the broader trend remains positive, near-term volatility could persist as investors assess earnings quality and macroeconomic cues, they believe.