Global Market Pressures Sink Sensex and Nifty

The Indian stock markets faced a downturn on Wednesday as the Sensex and Nifty indices fell due to persistent foreign fund outflows and negative global cues. IT and auto stocks led the decline, while HDFC Bank and Bharti Airtel offered some resistance. Investors remained cautious amid ongoing market volatility.

The Indian stock market indices, Sensex and Nifty, took a hit on Wednesday, driven by selling in IT and auto sectors, continuing foreign fund outflows, and weak global market trends.

The BSE Sensex dropped 318.76 points to close at 81,501.36, while the NSE Nifty slipped by 86.05 points, settling at 24,971.30.

For the second consecutive day, factors such as insipid demand and input price volatility weighed heavily on investor sentiments, prompting fears about the sustainability of current valuations and slower than expected earnings growth.

(With inputs from agencies.)