Both Sensex and Nifty opened lower on Wednesday as investors tracked the stock market debut of Reliance-backed Jio Platforms. The BSE Sensex fell 617.84 points, or 0.84%, to 72,980.83, while the NSE Nifty dropped 164 points, or 0.72%, to 22,585.75.
Jio Platforms’ listing is a key focus for investors, with market participants watching its debut performance amid heightened attention on the initial public offering (IPO). The stock’s listing price and early trading trend will be closely watched for indications of investor appetite for large new listings.
The weak opening came as GIFT Nifty signalled a cautious start for domestic equities ahead of the US Federal Reserve’s policy decision later in the day. Investors are also monitoring elevated crude oil prices and global market cues.
Sensex, Nifty recap
The Sensex and Nifty ended nearly flat on Tuesday after a volatile session, as profit-taking in information technology and banking stocks offset gains in other sectors.
The 30-share BSE Sensex fell 8.08 points, or 0.01%, to close at 73,598.67. The 50-share NSE Nifty declined 3.45 points, or 0.02%, to settle at 22,749.75.
Broader markets outperformed the benchmarks, with the BSE SmallCap Select index rising 2.59% and the MidCap Select index gaining 0.88%. Healthcare, telecommunications, utilities, realty and automobile stocks advanced, while banking and IT shares faced selling pressure.
Elevated crude oil prices and caution ahead of the US Federal Reserve’s interest-rate decision continued to weigh on sentiment. Foreign institutional investors sold equities worth ₹1,462.49 crore on Monday, according to exchange data.
Asian markets, Wall Street in focus
Asian markets traded broadly higher on Wednesday, providing some support to sentiment even as domestic benchmarks opened lower.
South Korea’s Kospi surged 4.93% to 5,917.21, while Japan’s Nikkei 225 rose more than 1% to 64,012.40. Taiwan’s Taiex also advanced, rising as much as 1.69%.
On Wall Street, semiconductor and chipmaker stocks led gains on Tuesday. The S&P 500 rose 0.6%, while the Nasdaq Composite gained 1.2%. The Dow Jones Industrial Average ended nearly unchanged, weighed down by an 11% plunge in Boeing shares.
Investors will look for cues from the US Federal Reserve’s policy announcement, particularly its signals on the interest-rate outlook and the implications for global capital flows.