Mumbai, Jan 21 (IANS) Indian equity benchmark indices ended lower on Wednesday for the third straight session, weighed down by rising geopolitical tensions that kept investors cautious.
The Sensex closed at 81,909.63, slipping 270.84 points or 0.33 per cent. Meanwhile, the Nifty settled at 25,157.5, down 75 points or 0.3 per cent.
“A sustained break below 25,130 could reopen downside toward 24,920–24,900,” a market expert said.
“At this stage, price action reflects consolidation after exhaustion, not a confirmed trend reversal, with the index posting its fourth consecutive weak close,” the analyst mentioned.
Selling pressure was seen in several heavyweight stocks on the BSE. Shares of ICICI Bank, Trent, BEL, Axis Bank and L&T emerged as the top drags on the index.
On the other hand, buying interest was visible in stocks such as Eternal, UltraTech Cement, Adani Ports and IndiGo, which helped limit deeper losses.
Sector-wise, the chemical space saw the sharpest decline, with the Nifty Chemical index falling 2.12 per cent.
This was followed by losses in Nifty Consumer Durables, which slipped 1.66 per cent, and Nifty Bank, which ended 1.02 per cent lower.
In contrast, metal and oil and gas stocks showed some resilience, with the Nifty Metal index rising 0.57 per cent and the oil and gas index gaining 0.27 per cent.
The broader market also remained under pressure. The Nifty MidCap 100 index declined 1.14 per cent, while the Nifty SmallCap index ended the session 0.9 per cent lower.
Meanwhile, Rupee traded weak below 91.60, down nearly 0.70 per cent, as rising geopolitical tensions involving Europe and Greenland, along with fresh concerns over US tariff actions and the lack of a confirmed India–US trade deal, continued to weigh on sentiment.
“A sharp rally in bullion prices has further pressured the rupee by inflating the import bill. The currency is likely to remain volatile in a broad range of 90.90–92 in the near term,” an expert stated.
–IANS
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