Indian equity markets ended under pressure on Wednesday as rising geopolitical tensions, record-low rupee levels, and Brent crude prices above $110 per barrel weighed on investor sentiment. The Sensex fell around 600 points in early trade, while the Nifty slipped below the 23,450 mark.
The selloff was driven by concerns over the Iran conflict, which has kept global oil prices elevated and raised fears of higher inflation and import costs. A weak rupee, which hit fresh record lows against the US dollar, further added to negative sentiment by increasing worries over foreign fund outflows and cost pressures for import-heavy sectors.
Among the major losers, auto stocks such as Tata Motors and Maruti Suzuki came under pressure, along with metal names like JSW Steel and Tata Steel. Oil marketing companies including BPCL and IOC also declined amid concerns of margin pressure due to high crude prices. Banking stocks such as HDFC Bank and ICICI Bank also saw weakness in line with broader market sentiment.
However, some stocks managed to buck the trend. Hindalco Industries gained on positive global metal cues, while Sun Pharma advanced on defensive buying in pharma counters. Select IT stocks such as Infosys and TCS also ended in the green, supported by steady overseas demand expectations.
Despite these pockets of strength, broader sentiment remained weak throughout the session. Foreign institutional investors continued to sell equities, adding further pressure on domestic markets.
Analysts said volatility is likely to persist in the near term as global cues, crude oil movement, and currency fluctuations continue to drive market direction. Investors remain cautious amid ongoing geopolitical uncertainty and inflation concerns.