Sensex drops 386 pts, Nifty below 25,100 on fourth day of profit booking

The domestic share markets continued their downtrend for a fourth session on Wednesday, dragged by losses in IT and financial stocks as uncertainty around U.S. H-1B visa rules weighed on sentiment.At close, the Sensex was down 386.47 points or 0.47 percent at 81,715.63, and the Nifty was down 112.60 points or 0.45 percent at 25,056.90. 
HUL, Nestle, NTPC, JSW Steel, Power Grid were the top gainers on the Nifty while losers included Tata Motors, Wipro, Bharat Electronics, Jio Financial, Hero MotoCorp .On the sectoral front,except FMCG, all other sectoral indices ended in the red with auto, IT, media, metal, oil & gas, realty down 0.5-2%.BSE midcap index shed nearly 0.9% and smallcap index was down 0.5%.
Rupee Close:
On 24 Sep'25,the India rupee ended marginally higher at 0.07% to close at 88.69 against the US dollar on Wednesday, as likely intervention by the Reserve Bank of India helped stave off pressure on the local unit amid worries over steep US tariffs and a visa fee hike.Traders said that the central bank likely intervened across segments such as non-deliverable forwards (NDF), currency futures and the OTC spot market to help support the rupee.The RBI did not immediately respond to an email seeking comment.
The central bank "was present everywhere, leading to muted price- action" despite lingering pressure on the Indian currency amid a broad-based pick up in dollar strength, a trader at a state-run bank said.While dollar demand was relatively subdued compared to Monday, "the rupee's path of least resistance seems to be towards further weakness," the trader added.
Trading Guide: 
Vinod Nair, Head of Research, Geojit Investments stated,profit booking has been observed in Indian markets post-GST reforms, as investors recalibrate valuations and Q2 earnings expectations. IT stocks underperformed due to H-1B fee hikes, while US trade rhetoric amid ongoing trade negotiations and weak global cues are prompting cautious investor sentiment.India’s relatively high valuations, coupled with moderation in earnings growth, continue to lead FIIs to trim their positions. That said, structural reforms and domestic growth drivers are keeping the underlying trend constructive. Current headwinds appear transitory, with headwinds likely to ease over time.
Market experts recommended five shares to buy Wednesday-Ajmera Realty & Infra India, Suprajit Engineering, Borosil, Lumax Auto Technologies, and Remsons Industries.

(Business Correspondent)