Indian shares experienced volatility before closing slightly lower on Wednesday. Global market weakness impacted investor sentiment, influenced by reactions to the U.S. presidential debate and anticipation of crucial U.S. inflation reports for guidance on potential interest rate cuts.
The upcoming U.S. consumer price inflation data, along with the producer price index figures and initial jobless claims numbers expected on Thursday, could provide new insights into the Federal Reserve's interest rate strategy ahead of their meeting next week.
International market dynamics, such as a weaker dollar and a significant drop in oil prices to 33-month lows on Tuesday, helped mitigate losses in the broader market.
The benchmark 30-share Sensex declined 398.13 points, or 0.49 percent, closing at 81,523.16. Similarly, the broader NSE Nifty index fell 122.65 points, or 0.49 percent, ending at 24,918.45.
Notable decliners included Tata Motors, which continued its losing streak for the ninth consecutive session with a 5.7 percent drop. ONGC fell 2.9 percent following a steep decline in oil prices in the U.S. trading session due to demand concerns. Additionally, Adani Enterprises, Larsen & Toubro, and Wipro each decreased by around 2 percent. In contrast, Bajaj Auto saw a surge of over 4 percent, and Asian Paints advanced by 2.2 percent.
