At 10 AM today, the Sensex witnessed a substantial decline of 840.91 points, marking a 1.15 percent drop at 72,287.86, while the Nifty recorded a 242.40 points or 1.10 percent decrease at 21,789.90. The market scenario was characterized by 1276 advancing shares, 1706 declining shares, and 86 unchanged shares.
Benchmark indices opened significantly in the red on Wednesday, reflecting a broader market downturn. The challenging situation extended to equities in Asia, exhibiting a mixed trading pattern, while Treasuries experienced a cooling effect. This follows a recent selloff in US stocks and bonds, as investors scaled back expectations for Federal Reserve rate cuts this year.
The US stock market concluded on a lower note on Tuesday, influenced by mixed earnings reports from Morgan Stanley and Goldman Sachs, which impacted the banking sector. Sell-offs in major companies like Boeing and Apple also contributed to the downward pressure on the S&P 500.
In the commodities market, oil prices declined as a stronger US dollar and an overall risk-off sentiment offset concerns regarding escalating tensions in the Middle East. Ongoing attacks on ships in the Red Sea by Iran-backed Houthi rebels contributed to the geopolitical uncertainties affecting market sentiment.
