Sensex drops over 300 point, Consumer durables and IT shine

Benchmark indices Sensex and Nifty ended lower in a volatile session on Wednesday as investors turned cautious ahead of the RBI's monetary policy decision later this week and trade war concerns. The 30-share BSE Sensex declined 312.53 points or 0.40 per cent to settle at 78,271.28. During the day, it went lower by 367.56 points or 0.46 per cent to 78,216.25. The NSE Nifty dropped 42.95 points or 0.18 per cent to 23,696.30.
Despite the general downturn, Consumer Durables and IT sectors managed to buck the trend, showcasing resilience amidst a largely negative market environment. This divergence highlights the sectors' relative strength on a day when most other sectors faced downward pressure. In contrast, the capital goods index suffered the most, plummeting by 4 percent. Additionally, sectors such as metal, oil & gas, power, and PSU also witnessed significant declines, ranging between 2 to 3 percent. This sectoral performance paints a picture of a market grappling with sector-specific challenges, with only a few managing to navigate the turbulence successfully.
The Indian rupee hit a record low, closing at 87.4650 against the US dollar amid bearish sentiment, foreign outflows, and domestic rate cut expectations. Stop losses accelerated the decline, making it Asia’s worstperforming currency in 2025.