ET Market Watch: Sensex falls 120 points, Nifty below 26,850 as markets extend losses into day 3 | The Economic Times Podcast

Hello and welcome to ET Market Watch. I’m Neha Vashishth, and here’s how the markets closed today.Indian shares closed lower for the third straight session on Wednesday as uncertainty over the US Federal Reserve’s interest rate path and weak global cues kept investors cautious.

The Sensex fell 120 points, or 0.14%, to close at 84,559, while the Nifty 50 ended below 26,850, down 41 points at 25,818.

Losses on the Sensex were led by Trent, HDFC Bank, ICICI Bank, Adani Ports and Bajaj Finserv, which fell between 1 and 2 percent each.

Sector-wise, PSU banks performed better, with the index gaining over 1 percent. However, that was offset by selling pressure in media stocks, which fell 2 percent. Private banks, real estate, FMCG, consumer durables and healthcare stocks also ended in the red.

The broader market remained under pressure, with midcaps down 0.5 percent and small caps down 0.7 percent.

Globally, Asian markets were modestly positive, while US futures pointed to a slightly firmer opening ahead of key US inflation data due on Thursday. Investors continue to price in two Fed rate cuts next year.

In the commodities sector, oil prices rose more than 1 percent after US President Donald Trump ordered a blockade of sanctioned oil tankers linked to Venezuela, raising new geopolitical risks.

At home, the rupee recovered sharply and posted its strongest gains in almost two months after the RBI’s intervention. The currency settled at 90.38 against the dollar, an increase of almost 0.7 percent.

That’s all for today on ET Market Watch. Stay tuned for more updates.