For Indian markets, however, the backdrop remains challenging after the Nifty 50 recorded its seventh consecutive decline on Wednesday. The index has fallen 2.1% during its longest losing streak in 11 months. The Sensex also ended lower, dropping 325.78 points to 76,909.68, while the Nifty closed at 24,078.30, down 76.60 points or 0.32%. Broad-based selling followed weakness across Asian markets, with the KOSPI, Nikkei and Taiwan Weighted Index among the major decliners.
Crude oil remains a major factor for investor sentiment. Brent crude was around $91.75 a barrel, while crude oil was trading at $85.79, as markets assessed developments around the US-Iran war and the security of shipping through the Strait of Hormuz. Vinod Nair of Geojit Investments said the lack of a diplomatic resolution after the US-Iran ceasefire ended had kept crude oil prices and bond yields elevated.
Sectoral performance was mixed on Wednesday, with Nifty IT gaining 0.60%, while Media, Chemicals, FMCG, Oil & Gas, Auto, Realty and Pharma ended lower. HCL Technologies led the gainers among Nifty stocks, while Power Grid was the biggest laggard.
Foreign institutional activity remains another area of focus. Overseas investors have sold a record $24.7 billion of Indian shares in 2026, although provisional data showed net buying of Rs 4.1 billion on Wednesday. Earnings will also remain on the radar, with Xtranet Technologies and Lohia Corp among the stocks to watch after reporting their quarterly results.