Domestic equities opened lower on Wednesday, tracking weak global cues, rising US bond yields and lingering geopolitical tensions. According to reports from NDTV Profit, benchmark indices stayed in negative territory in early trade, with selling pressure visible across sectors. Nifty fell as much as 0.93%, while Sensex dropped nearly 0.89% in early trade. As of 10:30 am, Nifty is trading 0.59% lower at 23,479.70, while Sensex is down by 0.63% at 74,725. Volatility edged higher, underscoring a cautious tone among investors.
Most sectors are trading in red, with Nifty Media leading the losses with cuts of over 2%, followed by Realty, Auto, and PSU Bank sectors. According to NDTV Profit reports, Pharma is up 0.48%, providing some relief in the broader market decline. The broader market is also facing pressure with Nifty Smallcap 250 falling almost 0.40%, and Nifty Midcap 150 dropping about 0.26%. This sectoral divergence reflects selective selling across different market segments.
US President Donald Trump said the war will end 'very quickly' because Iran wants a deal badly. As reported by NDTV Profit, he predicted oil prices will plummet, saying 'there's so much oil out there, they are going to come plummeting down.' Earlier Trump said he was an hour away from making a decision to restart attacks on Iran, but put it off after receiving a call from interlocutors, including Qatar and the UAE, on Tehran being 'reasonable' in the peace talks. The US President said the negotiators said they had made a lot of progress in talks with Iran over the last two days. Iran's Foreign Minister Abbas Araghchi added that months after the war began, the US Congress has acknowledged losing dozens of aircraft worth billions. He claimed Iran's Armed Forces were the first to shoot down an F-35, adding that a return to war would bring 'many more surprises' based on lessons learned.
Oil prices were little changed on Wednesday as traders assessed President Donald Trump's latest threat to resume military strikes against Iran, keeping the geopolitical risk premium firmly embedded in crude markets. According to NDTV Profit, Brent crude slipped below $111 a barrel after easing 0.7% in the previous session, while West Texas Intermediate traded near $104. Despite the modest pullback, both benchmarks remain sharply higher as tensions in the Middle East continue to disrupt one of the world's most critical oil corridors.
The rupee continues its slide, opening on an all-time low of 96.85 in trade on Tuesday, as elevated crude oil prices, global uncertainty, and a stronger dollar continue to remain key risks for the domestic unit. As reported by NDTV Profit, the rupee has depreciated for the 13th straight calendar day after opening it slumped as much as 96.93 against the greenback. The yield on the 30-year U.S. Treasury bond also surged to 5.18% on Tuesday, reaching its highest level since the eve of the 2007 global financial crisis, while the 10-year Treasury yield also climbed, reaching 4.66%, its highest level in over a year. According to Bloomberg reports, traders said the RBI was in the market selling dollars to curb rupee weakness.
