The SENSEX Index Closes 0.34% Lower

The SENSEX Index dropped 264 points or 0.34 percent on Wednesday to close at 77890 points. Losses were led by Tata Consultancy (-4.36%), Tata Steel (-1.73%) and Tata Motors (-1.61%). Offsetting the fall, top gainers were Indusind Bank (1.36%), UltraTech Cement (0.47%) and Power Grid (0.39%).

India’s BSE Sensex finished about 0.2% down at 77,966 on Wednesday, marking the second day of losses. Caution ahead of the upcoming Indian and US inflation reports was heightened by US-Iran tensions and the continued uncertainty over the reopening of the Strait of Hormuz, supporting higher crude oil prices. Meanwhile, foreign inflows persisted. Tata Group stocks led the decline, with Tata Consultancy Services (TCS), the group's most valuable company, plunging 3.7% and acting as a major drag. Investors reacted to Tata Sons Chairman N Chandrasekaran's sudden decision to resign ahead of the conglomerate's annual general meeting scheduled for August 18. Tata Steel, Tata Motors, Titan and Trent tracked losses, falling between 0.2% and 1.6%. Other notable laggards included M&M (-1.7%), L&T (-1.2%), Infosys (-1%), ITC (-1%) and Bajaj Finance (-0.9%). On the upside, SBIN (+1.3%) and Bharti Airtel (1.2%) posted the biggest gains.

India’s BSE Sensex fell about 0.3% to 77,957 on Wednesday, following the losses on the previous session as rising crude oil prices and caution ahead of domestic and US inflation data weighed on risk sentiment. Oil prices moved closer to $90 a barrel as concerns over tensions in the Middle East and uncertainty around the reopening of the Strait of Hormuz raised fears of higher energy costs. India’s annual inflation rate for July is also due later today, with forecasts pointing to a rise to 4.5% from 4.38%, which marked the highest rate since December 2024. Among stocks, Godrej Consumer Products was a major decliner. Its shares fell about 9.4% to their lowest level in more than three years after CEO Sudhir Sitapati unexpectedly resigned, just months after being reappointed, while Tata Group stocks also came under pressure following reports that Tata Sons Chairman N. Chandrasekaran may step down. Top losers included Dr. Agarwal’s (-5.7%), Tenneco Clean Air (-2.2%), and Manappuram (-1.7%)