India’s BSE Sensex opened about 0.5% lower at 74,171 on Wednesday, extending its losing streak to a fifth straight session, as volatility persisted amid elevated crude oil prices, continued foreign outflows, and geopolitical uncertainty linked to the Iran conflict. Foreign portfolio investors have already withdrawn $23.14 billion from Indian equities so far in 2026, surpassing the record pace of selling seen in 2025.
On the macro front, India’s April inflation edged up to 3.48% from 3.4% in March, coming in below market expectations of 3.8%. However, concerns over rising energy costs continue to weigh on the economic outlook.
In corporate news, Tata Power dropped 5% after posting weak March-quarter results, as profits declined 4.5%, pressured by softness in its hydro and thermal businesses following a plant shutdown in Gujarat. Other notable laggards included Kalyan Jewellers (-5.6%), KEI (-1.7%), and Power Grid (-2.7%). On the upside, Billionbrains climbed 4.3% and Vedanta advanced 3.3%.
