Sensex Drops 176 Points; Midcaps Dip, Smallcaps Gain in Volatile Session
BIZ DESK
Indian equity benchmarks ended marginally lower on Wednesday, weighed down by global uncertainty and lack of fresh domestic triggers. Investors remained cautious ahead of a potential announcement from U.S. President Donald Trump regarding new tariffs on seven countries, including possible levies on semiconductors, pharmaceuticals, and copper.
The BSE Sensex fell 176.43 points to settle at 83,536.08, while the NSE Nifty50 closed at 25,476.10, down 46.40 points. Market sentiment remained subdued as traders awaited clarity on trade policy developments and global interest rate outlooks.
Broader markets showed a mixed trend. The Nifty MidCap 100 index slipped 0.13%, while the Nifty SmallCap 100 rose 0.59%, reflecting selective buying in smaller counters. Analysts noted that investor interest was limited, with participants unwilling to make aggressive bets ahead of macroeconomic cues.
Sectorally, FMCG stocks provided some support to the indices. Shares of Hindustan Unilever and Varun Beverages gained around 0.5% amid defensive buying. In contrast, IT stocks underperformed, dropping nearly 0.5%, ahead of TCS’s quarterly earnings report due later this week. The pharmaceutical sector also faced pressure amid concerns over potential U.S. tariffs.
On the currency front, the rupee traded flat around ₹85.70/USD, with forward premiums showing limited movement. The foreign exchange market is also awaiting the release of the U.S. Federal Reserve’s June meeting minutes, which may provide insights into the future path of U.S. interest rates.
Looking ahead, market direction is likely to hinge on the U.S. tariff announcement and global central bank commentary. Investors are expected to remain on edge until there is more clarity on global trade tensions and rate policy signals.
