Equity markets lost momentum on Wednesday, with the Sensex falling over 750 points from its intraday high and the Nifty slipping below the 22,400 mark. Investor sentiment weakened due to ongoing concerns about global trade tariffs.
By 1 PM, the Sensex was down 378.62 points at 73,723.70, while the Nifty dropped 128.40 points to 22,369.50. Market breadth remained negative, with 1,159 stocks advancing, 2,319 declining, and 116 unchanged.
Infosys, Wipro, Tech Mahindra, Adani Enterprises, and HCL Technologies were the top losers on the Nifty, while IndusInd Bank, Kotak Mahindra Bank, Tata Motors, HDFC Bank, and Sun Pharma led the gainers.
Except for the banking sector, all other indices traded in the red. IT, metal, media, and telecom sectors fell between 1-3%. The BSE Midcap index dropped 1.6%, and the Smallcap index lost nearly 1%.
Global markets remained on edge as trade tariff concerns escalated. Tensions rose after US President Donald Trump proposed increasing tariffs on steel and aluminium imports from Canada to 50%, though he later hinted at a possible reconsideration.
