The SENSEX Index Closes 1.08% Lower

India's BSE Sensex extended early losses to close about 1.1% down at 74,764 on Wednesday, the lowest since June, marking the third session of decreases. The escalation of tensions between the US and Iran in the Persian Gulf region added to concerns about global energy supplies, pushing oil prices higher and fanning inflation concerns. Continued foreign fund outflows also weighed on investor sentiment. Selling pressure was seen across most sectors, led by IT, financials and FMGC stocks. HCLTech, Infosys, Tech Mahindra and TCS shed between 2% and 4.6%. Other laggards included HDFC Bank (-2.2%), ICICI Bank (-0.7%) and Reliance Industries (-1%). On the upside, Adani Ports outperformed, climbing 3.7%, after winning the bid to develop and operate two dry bulk berths at Paradip Port in Odisha. The project will lift domestic cargo capacity to 671 MMT, bringing it closer to its 1 billion-tonne 2030 target. Tata Steel (2.4%), Trent (1.1%) and NTPC (0.5%) also recorded gains.

The SENSEX Index dropped 813 points or 1.08 percent on Wednesday to close at 74764 points. Losses were led by Infosys (-4.55%), HCL Tech (-3.99%) and Tech Mahindra (-3.59%).

India’s BSE Sensex fell about 0.6%, or 460 points, to 75,125 on Wednesday, extending losses amid rising crude oil prices and escalating tensions in the Middle East. The Nifty 50 also declined as investors remained concerned that higher energy costs could fuel inflation, widen India’s trade deficit and weigh on economic growth. Brent crude climbed toward $100 a barrel, while the rupee remained under pressure near 95 per dollar. Foreign investors continued to sell Indian equities, adding to market pressure. IT stocks led the sell-off, with Infosys, HCLTech and Tech Mahindra among the major losers. Among stocks in focus, Coforge tumbled more than 5% after Chairman Om Prakash Bhatt resigned following concerns raised by an internal audit over the company’s board evaluation process. Other notable laggards included ICICI Bank (-0.7%), BSE Ltd. (-3.0%), IFCI Ltd. (-3.6%), HDFC Bank (-0.8%) and Reliance Industries (-0.6%).