Global Uncertainties Weigh Down Indian Stock Markets

The Indian stock markets closed nearly flat on Wednesday, mirroring the air of uncertainty brought about by Middle Eastern tensions and anticipation surrounding the US Federal Reserve's policy meeting. The BSE Sensex recorded a drop of 138.64 points, settling at 81,444.66, and the Nifty 50 fell by 41.35 points, concluding at 24,812.05.

This session marked the second day of decline, reflecting a cautious sentiment among investors. Sudeep Shah, Head of Technical Research at SBI Securities, attributed this to growing caution amid geopolitical concerns in the Middle East and the looming US Federal Reserve decision. Market analyst VLA Ambala highlighted that various macroeconomic factors are contributing to a sideways to bearish trend.

Among Nifty's components, IndusInd Bank and Titan were the leading gainers, while TCS and Adani Ports were the prominent losers. Sectoral indices showed mixed results, with Consumer Durables, Private Bank, and Auto closing higher, whereas Media, IT, and Metal sectors lagged. Globally, traders remained cautious, with the US Federal Reserve meeting seen as a potential catalyst. In derivatives, 67 stocks rose while 156 fell, with significant interest in companies like Hindustan Zinc and Uno Minda.

(With inputs from agencies.)