India’s BSE Sensex fell about 1.2% to 72,690 at the open on Wednesday, after ending nearly flat in the previous session, as rising crude oil prices and caution ahead of the US Federal Reserve’s interest-rate decision weighed on investor sentiment.
IT stocks led the decline: Infosys dropped 4.5%, while Tata Consultancy Services and HCL Tech each fell around 2.7%. Meanwhile, Jio Platforms made a strong market debut, opening 21.4% above its IPO price and immediately becoming India’s second-largest listed company by market value, after its offering drew roughly $77 billion in bids.
Brent crude rose 1.4% to $115.40 a barrel following an attack on a Saudi refinery, heightening concerns over India’s import bill, inflation, and corporate profit margins. The rupee traded around 95.02 per US dollar, with traders citing signs of Reserve Bank of India intervention to support the currency. Other notable decliners included Bharti Airtel (-2.2%), Reliance (-1.8%), and ICICI Bank (-1.7%).
