- Indian indices declined Wednesday; Sensex, Nifty both closed lower.
- Asian, US markets rallied; pharma stocks fell on US tariffs.
- Oil rose, precious metals gained; Q1 earnings awaited.
The Indian benchmark indices declined on Wednesday as the Sensex fell over 600 points to settle at 76,831 and the Nifty declined over 190 points testing 24,000 at 3:30 PM.
Previously, during the early morning session, the Sensex rang the opening bell above 77k, crashing close to 400 points, while the NSE Nifty50 started trading around 24,100, bleeding nearly 100 points, as of 9:15 AM.
Asian Markets Rally
Asian markets traded sharply higher on Wednesday, tracking overnight gains on Wall Street after stronger-than-expected earnings from major semiconductor companies lifted investor sentiment.
Japan’s Nikkei 225 rose 1.93 per cent, while South Korea’s Kospi surged 6.01 per cent in early trade.
US markets also closed in positive territory overnight. The Dow Jones Industrial Average gained 0.74 per cent, the S&P 500 advanced 0.89 per cent, and the Nasdaq Composite climbed 1.29 per cent, supported by optimism over corporate earnings.
Pharma Stocks Fall On Tariff Concerns
The Nifty Pharma index declined more than 1 per cent as investors reacted to the possibility of fresh tariffs on generic drugs imported into the United States.
US President Donald Trump on Tuesday announced that these drugs would attract no tax for the first two years, followed by a 100 per cent tariff in the first year and a 200 per cent tariff thereafter.
The announcement triggered selling in pharmaceutical stocks, with Sun Pharma, one of the largest Indian players in the US market, falling more than 1 per cent.
Oil Prices Edge Higher
Crude oil prices rose on Wednesday morning amid renewed geopolitical tensions in West Asia.
Investor concerns increased after US President Donald Trump downplayed the possibility of negotiations with Iran, while Washington continued military strikes on Iranian targets.
Gold, Silver Extend Gains
Precious metals continued to attract buying interest as geopolitical uncertainty boosted demand for safe-haven assets.
Gold futures were up 1.21 per cent, while silver futures gained 1.9 per cent in early trade.
Q1 Earnings To Drive Market Action
Corporate earnings are expected to remain a key trigger for markets during the session, with several companies set to announce their June quarter (Q1 FY27) results.
The companies scheduled to report earnings include Adani Green Energy, Adani Power, Bharat Petroleum Corporation (BPCL), Dr Reddy’s Laboratories, Hindustan Petroleum Corporation (HPCL), IndusInd Bank, JSW Energy, Nestlé India, Tata Communications, UCO Bank, United Spirits and UTI Asset Management Company.
Investors will closely track the results for management commentary on demand trends, margins and the outlook for the remainder of FY27.
