The benchmark BSE Sensex fell 139 points, or 0.17%, to close at 81,445, while the NSE Nifty 50 lost 41 points, or 0.17%, ending the session at 24,812. However, the Nifty Bank index bucked the broader trend, climbing 115 points to settle at 55,829, aided by strength in frontline lenders.
Despite early gains, market sentiment turned cautious in afternoon trade, leading to a pullback in major indices. The Nifty Midcap 100 index fell 270 points, or nearly 0.5%, to end at 58,109, underperforming the benchmarks and weighing on the overall advance-decline ratio, which stood at 1:2, signalling broad-based selling pressure.
IndusInd Bank emerged as a top contributor to Nifty gains, while other large financials offered relative resilience amid choppy trade. Mid-tier banks such as RBL Bank, Bandhan Bank, and AU Small Finance Bank rose between 3% and 5%, adding to sectoral optimism following recent strength in credit growth data.
Auto stocks extended their upward trajectory, with Maruti Suzuki, Eicher Motors, and Mahindra & Mahindra among the top performers. The sector was buoyed by optimism around festive demand and improving rural sentiment.
Retailer Avenue Supermarts gained 4% after announcing the launch of a new DMart store in Uttar Pradesh, triggering fresh buying interest. Trent Ltd, part of the Tata Group, rose 2% after the company hosted an analyst meet, generating positive commentary from institutional participants.
Cooling demand for cooling products hurt sentiment in the consumer durables space. Voltas and Blue Star slipped in trade, with analysts citing below-expectation air-conditioner sales despite the extended summer in many parts of the country.
Biocon extended Tuesday’s losses, closing 3% lower on sustained selling pressure amid muted sector cues.
In the metals pack, Hindustan Zinc tumbled 6% after its parent, Vedanta Ltd, offloaded a 1.6% stake in a block deal worth over ₹3,000 crore, triggering concerns about further dilution and corporate restructuring.
Meanwhile, oil marketing companies (IOC, BPCL, and HPCL) recovered from early losses as crude oil prices retreated from recent highs, offering temporary relief on margin concerns.
Reliance Infrastructure surged 5% following reports that Dassault Aviation will partner with the company to manufacture Falcon 2000 jets in India, further fuelling investor interest in defence-linked plays under the ‘Make in India’ initiative.
