Indian equity benchmarks continued to trade marginally lower in morning deals, tracking weak trends in global markets amid continuing uncertainty in West Asia and relentless foreign fund outflows. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 5,616.56 crore on Wednesday, according to exchange data. Traders took a note of the Organisation for Economic Co-operation and Development’s (OECD) report stated that India’s real Gross Domestic Product (GDP) is projected to grow by 6.3% during the fiscal year 2026-27 (FY27) and by 6.4% in FY28. Rising inflation is likely to weigh on private consumption, while investment slows amid higher oil and gas prices and gas rationing. Employment growth and labour market participation are set to weaken. Sector-wise, tyre industry’s stocks remained in watch as Automotive Tyre Manufacturers Association (ATMA) said Indian tyre exports were at record high of Rs 27,312 crore in FY2025-26, with the US being the largest export destination for the segment. On the global front, Asian markets were trading lower following the broadly negative cues from Wall Street overnight, on spiking crude oil prices after new attacks in the Middle East stalled the signing of a U.S.-Iran peace agreement, delaying the reopening of the Strait of Hormuz.
The BSE Sensex is currently trading at 74273.10, down by 73.07 points or 0.10% after trading in a range of 73807.30 and 74480.75. There were 15 stocks advancing against 15 stocks declining on the index.
The top gaining sectoral indices on the BSE were Capital Goods up by 1.46%, Consumer Durables up by 1.37%, Industrials up by 1.15%, Telecom up by 1.13% and Consumer Discretionary up by 0.86%, while IT down by 0.70%, Metal down by 0.57%, TECK down by 0.45%, Basic Materials down by 0.23% and Bankex down by 0.13% were the top losing indices on BSE.
The top gainers on the Sensex were Eternal up by 4.25%, Titan Company up by 1.33%, Asian Paints up by 0.99%, SBI up by 0.97% and Mahindra & Mahindra up by 0.87%. On the flip side, Infosys down by 1.71%, Trent down by 1.19%, HCL Technologies down by 0.99%, Power Grid Corporation down by 0.96% and Reliance Industries down by 0.81% were the top losers.
Meanwhile, Reserve Bank of India (RBI) Deputy Governor Swaminathan J has said that India's economic activity continues to show remarkable resilience, driven by strong industrial and services activity, broad-based demand, and improving corporate performance, despite rising global uncertainty arising from the West Asia conflict and disruptions across energy and logistics channels. He noted that India currently stands on a relatively strong macroeconomic footing with inflation remaining within the RBI's tolerance band and external vulnerabilities remain manageable.
Swaminathan said ‘we meet at a time when the global policy conversation is again crowded with large themes: geopolitics, climate change, artificial intelligence, technological disruption and the reordering of supply chains.’ Against that backdrop, he said banking resilience may seem like a quieter subject. He said ‘but it has one distinct feature: when it is absent, its importance is immediately recognised. A weak banking system can quickly transmit stress from financial balance sheets to firms, households, public finances and the broader economy.’
He emphasised that the Indian financial system enters this uncertain phase with strength -- healthier balance sheets, comfortable capital buffers, improved profitability and non-performing assets at multi-decade lows. He said banking resilience does not arise automatically from growth or favourable conditions. He said it has to be designed at multiple levels: in the rules that govern banks, in the supervisory systems that detect vulnerabilities, in the resolution architecture that addresses stress, and in the behaviour of banks themselves.
The CNX Nifty is currently trading at 23388.00, down by 17.60 points or 0.08% after trading in a range of 23247.30 and 23450.10. There were 24 stocks advancing against 26 stocks declining on the index.
The top gainers on Nifty were Eternal up by 4.25%, Tata Consumer Product up by 1.28%, Titan Company up by 1.25%, Adani Enterprises up by 1.19% and SBI up by 1.04%. On the flip side, Infosys down by 1.74%, Trent down by 1.18%, HCL Technologies down by 0.97%, Power Grid Corporation down by 0.91% and HDFC Bank down by 0.82% were the top losers.
All Asian markets were trading lower; Nikkei 225 slipped 1064.13 points or 1.56% to 67,338.00, Taiwan Weighted lost 421.57 points or 0.91% to 46,037.59, Jakarta Composite plunged 206.81 points or 3.48% to 5,734.26, Shanghai Composite weakened 22.8 points or 0.56% to 4,061.17, KOSPI dropped 93.25 points or 1.06% to 8,708.24, Hang Seng declined 387.21 points or 1.51% to 25,246.00 and Straits Times fell 71.55 points or 1.39% to 5,066.69.
