Indian equities experienced a modest downturn on Wednesday, influenced by positive economic data from the U.S. that led investors to adjust their expectations for potential rate cuts.
In early trading, the S&P/BSE Sensex index saw a decline of 110 points, or 0.1%, reaching 78,092. This movement was in line with global trends, marked by a strengthening dollar and rising bond yields. Similarly, the NSE Nifty index fell by 25 points, or 0.1%, to 23,683.
Tata Elxsi shares dropped by 2.1% following the announcement of a strategic partnership with CSIR-National Aerospace Laboratories aimed at fostering innovation in air mobility.
Ola Electric Mobility shares decreased by 4% after the Securities and Exchange Board of India (SEBI) issued a warning letter to the company for not complying with disclosure norms.
Birlasoft experienced a 1.7% drop as CEO Roopinder Singh announced his resignation.
Tata Steel saw a slight decline despite reporting a 6.17% year-on-year increase in crude steel production for the third quarter of FY25.
NTPC reduced by 0.6% subsequent to forming a new subsidiary intended to spearhead its nuclear energy initiatives.
In contrast, Jindal Worldwide rose by over 5% following the announcement of a 4:1 bonus issue.
Tata Technologies advanced by 2.2% as it entered into a collaboration with Telechips to further develop automotive technologies.
WPIL's shares jumped nearly 5% after it completed the acquisition of Italian pump leader MISA.
