Mumbai: Market benchmark indices Sensex and Nifty ended lower Wednesday, dragged by Reliance Industries, IT companies, rising crude oil prices and caution ahead of the US Federal Reserve’s policy decision.
The 30-share BSE Sensex dropped 352.64 points, or 0.48 per cent, to settle at 73,246.03, recovering most of its sharp intraday losses. During the day, it tumbled 995.1 points, or 1.35 per cent, to 72,603.57.
The 50-share NSE Nifty was down 50.90 points, or 0.22 per cent, to end at 22,698.85.
Shares of Jio Platforms, the Reliance Industries-backed digital services company, made a blockbuster debut on Wednesday. The stock ended nearly 27 per cent higher against the issue price of Rs 1,119, becoming the second most valuable domestic firm after Reliance Industries by market capitalisation. Jio Platforms commanded a market valuation of Rs 13 lakh crore.
From the 30 Sensex firms, Reliance Industries dropped 3.46 per cent, Infosys 3.34 per cent, Tech Mahindra 1.83 per cent, Tata Consultancy Services 1.68 per cent, Bharti Airtel 1.42 per cent and Tata Steel 1.37 per cent.
Larsen & Toubro jumped nearly 4 per cent after the engineering major reported a 32.5 per cent rise in consolidated net profit to Rs 5,202.10 crore for the quarter ended September 2026, driven by higher revenue.
Trent, State Bank of India, Axis Bank and InterGlobe Aviation were also the winners from the blue-chip pack.
Brent crude, the global oil benchmark, jumped 0.99 per cent to USD 114.5 per barrel.
“Domestic equities remained volatile and traded lower as a fresh spike in crude oil prices and sharp selling in IT stocks weighed on investor sentiment. Oil prices rebounded amid renewed concerns over supply disruptions following Houthi attacks on Saudi Arabia, overshadowing ongoing diplomatic efforts. Investors will now turn their attention to the US Fed’s policy guidance, particularly signals around the interest-rate trajectory into December,” Vinod Nair, Head of Research, Geojit Investments Limited, said.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,240.39 crore Tuesday, according to exchange data.
In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225, Shanghai’s SSE Composite index and Hong Kong’s Hang Seng index ended higher.
Markets in Europe were trading lower.
The US markets ended higher Tuesday.
On Tuesday, the Sensex dipped 8.08 points, or 0.01 per cent, to settle at 73,598.67. The Nifty skidded 3.45 points, or 0.02 per cent, to end at 22,749.75.
