Sensex Snaps 3-Day Advance

India’s BSE Sensex closed roughly 1% lower at 78,516.5 on Wednesday, halting a three-day winning streak, as traders assessed weak earnings reports and the latest developments in the Middle East conflict. Uncertainty surrounding US-Iran talks and ongoing shipping disruptions kept investors cautious, despite the ceasefire extension. The IT sector was the biggest drag, led by a 10.9% plunge in HCLTech shares, following weaker-than-expected results and weak guidance for the next fiscal year. Tech Mahindra dropped 2.5%, despite its in-line quarterly results, as sentiment across the sector remained fragile. Infosys (-3.4%) and TCS (-2.8%) also saw heavy pressure. Other laggards included ICICI Bank (-1.5%), HDFC Bank (-1.5%), L&T (-1.3%) and Bharti Airtel (-1.3%). On the upside, Hindustan Unilever (2.8%) and NTPC (3.4%) posted the strongest gains.

The SENSEX Index dropped 771 points or 0.97 percent on Wednesday to close at 78502 points. Losses were led by HCL Tech (-10.74%), Infosys (-3.37%) and Mahindra & Mahindra (-3.00%). Offsetting the fall, top gainers were Hindustan Unilever (2.43%), NTPC (2.26%) and Tata Motors (1.84%).

India’s BSE Sensex fell about 0.8% to 78,659 on Wednesday, halting a three-day winning streak and pulling back from a recent six-week high as market sentiment turned cautious ahead of corporate earnings and amid uncertainty over a US-Iran ceasefire extension and peace talks. Brent crude remained elevated at around $98 per barrel, about 35% higher than late February when the US-Iran conflict began, stoking inflation risks, pressuring corporate margins, and weighing on equities. Meanwhile, stocks in focus saw HCLTech fall on weak guidance and downgrades, Tata Elxsi surge on 27.8% profit growth, Cyient DLM slip on soft earnings, and Sunteck Realty gain despite margin pressure. The benchmark index’s decline was led by technology stocks, with HCL Tech declining 8.9%, Infosys down 2.6%, Persistent Systems falling 4.3%, Tata Consultancy slipping 1.4%, and Tata Elxsi losing 3.9% despite reporting a rise in quarterly profits. Other notable losers included Taril (-8.1%), and 360 One (-3.1%).