Markets recovered from a flat opening to trade marginally lower in the afternoon session on Wednesday, with both benchmark indices consolidating in a narrow range as investors remained cautious ahead of key global events.
The BSE Sensex declined 48.04 points or 0.06 per cent to 81,503.59 as of 12:50 PM, while the NSE Nifty 50 fell 17.05 points or 0.07 per cent to 24,809.15. The indices had opened flat after Tuesday’s subdued close, with the Sensex starting at 81,457.61 against its previous close of 81,551.63.
Market breadth remained positive with 2,081 stocks advancing against 1,689 declining issues on the BSE. A total of 88 stocks hit their 52-week highs while 28 touched their 52-week lows, indicating selective buying interest across segments.
Defense equipment manufacturer Bharat Electronics Limited (BEL) emerged as the top gainer on the Nifty 50, surging 1.95 per cent to ₹392.90. HDFC Life Insurance Company gained 1.45 per cent to ₹787.05, while Bajaj Finance advanced 1.16 per cent to ₹9,277. Bharti Airtel climbed 1.01 per cent to ₹1,862.50, and ICICI Bank rose 0.59 per cent to ₹1,455.
On the downside, Nestle India led the losers with a decline of 1.52 per cent to ₹2,423.40. Bajaj Auto fell 1.51 per cent to ₹8,828, while ITC dropped 1.26 per cent to ₹420.70. Apollo Hospitals Enterprise declined 1.24 per cent to ₹6,986, and Tata Consumer Products slipped 1.12 per cent to ₹1,125.60.
Sectoral indices showed mixed performance with Nifty Financial Services gaining 0.31 per cent and Nifty Bank advancing 0.22 per cent. The Nifty Midcap 100 outperformed with a gain of 0.43 per cent, while the Nifty Next 50 remained flat with a marginal decline of 0.01 per cent.
Trading activity remained robust with significant volumes recorded across major stocks. ITC witnessed the highest trading value of ₹17,33,058.59 lakh, followed by ICICI Bank at ₹54,222.10 lakh and BEL at ₹70,808.13 lakh.
Market participants continue to monitor the upcoming US Federal Reserve meeting minutes and the July 9 deadline for US tariff decisions, which could provide directional cues for global markets in the coming sessions.