The SENSEX Index Closes 0.41% Lower

India’s BSE Sensex fell about 0.4% to settle at 74,346.2 on Wednesday, reversing Tuesday's gains, amid uncertainty surrounding US-Iran negotiations, a fresh spike in crude oil prices, and continued foreign outflows. Rising hostilities have reignited fears that negotiations may take longer than expected or even break down, potentially prolonging energy disruptions. At the same time, caution prevailed ahead of the RBI's upcoming policy decision. On a brighter note, final PMI data showed India’s services sector growth accelerated to a six-month high in May, exceeding initial estimates. Tech stocks witnessed heavy profit-taking after a rally in the past few sessions. TCS led the losses, slipping 8.4%, followed by Tech Mahindra (-6.2%), HCL Tech (-5.3%) and Infosys (-3.8%). Other notable losers included ITC (-2.2%), Eternal (-1.5%) and L&T(-1.2%). On the upside, IndiGo outperformed, rising 1.6%, after India’s Cabinet approved a 100 billion rupee ($1.05 billion) fuel stabilisation fund.

The SENSEX Index dropped 304 points or 0.41 percent on Wednesday to close at 74346 points. Losses were led by Tata Consultancy (-8.25%), Tech Mahindra (-6.45%) and HCL Tech (-5.31%). Offsetting the fall, top gainers were Tata Motors (2.00%), ICICI Bank (1.37%) and Power Grid (1.01%).

India’s BSE Sensex fell about 1.2% to 73,765 at the open on Wednesday, reversing the previous session’s gains as escalating Middle East tensions lifted oil prices and weighed on risk sentiment. Concerns over stalled US-Iran diplomatic progress and renewed regional hostilities pushed Brent crude up about 1.1% to near $97 per barrel, pressuring the oil-importing nation. Foreign investor selling remained a key drag, with overseas funds offloading Indian equities worth $877.91 million in the previous session, marking a third straight day of net outflows. Investors also awaited India’s final HSBC Composite and Services PMI data for May, due later in the day, with forecasts of 58.1 and 59, respectively. Technology stocks led the decline, falling about 3.7% after overnight weakness in global software shares, with LTM (-6%), TCS (-6%), Tech Mahindra (-5%), Coforge (-4%), Infosys (-3.8%), and HCL (-3.3%) among the biggest losers.