Positive global sentiment failed to lift Sensex, Nifty

The Indian benchmark indices declined for the second straight session on Wednesday, as positive global sentiment failed to lift domestic markets amid persistent fund outflows from block deals and a busy primary market.At close,the Sensex slipped 239.31 points, or 0.29 percent, to close at 81,312.32, while the Nifty fell 73.75 points, or 0.30 percent, to settle at 24,752.45. Market breadth was slightly positive, with 1,962 stocks advancing, 1,831 declining, and 151 remaining unchanged.
Weakness in FMCG, auto, and pharma stocks weighed on sentiment. ITC, IndusInd Bank, Ultratech Cement, and Nestle India emerged as the top losers on the Nifty. The broader market put up a mixed show. While the Midcap index dipped into the red, the Smallcap index outperformed frontline indices, buoyed by stronger earnings visibility across select segments.
On the sectoral front, Nifty FMCG led the decline with a 1.5 percent drop, followed by Nifty Auto, down 0.7 percent. Nifty Metal and Nifty Pharma each slipped 0.6 percent, while Nifty Consumer Durables eased 0.5 percent. On the flip side, Nifty PSU Bank and Nifty Media stood out as the top gainers, adding 1 percent each.
Rupee Close:
On 28 May'25,the Indian rupee pared losses and settled on a flat note to close at 85.40 against the US dollar in a volatile trade on Wednesday amid rising crude oil prices and a negative trend in domestic equities. Forex traders reportedly stated increased month-end dollar demand added strength to the American currency, keeping the local unit under pressure, while investors also moved cautiously awaiting cues from domestic macroeconomic data.
India's industrial production data for April will be released later in the day, while the GDP growth figures for the first quarter of FY26 are scheduled to be announced on Friday.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,the domestic indices remained rangebound with a negative bias, primarily due to the lack of support from FIIs and prevailing premium valuations. A lingering concern over India-US trade relations following the end of the 90-day pause period continues to pose an external risk. On the domestic front, key economic indicators such as an improved monsoon forecast, a benign inflation outlook, and expectations of a stronger Q4GDP may help cushion downside risks. However, earnings visibility needs to improve in tandem with the macros, which is vital for stability in the direction. Market experts recommended five shares to buy -Hindware Home Innovation, Enviro Infra Engineers, Minda Corporation, ELGI Equipments, and Man Industries (India).

(Business Correspondent)