While stocks such as Power Grid, Eternal and NTPC were among the gainers on the 30-pack index, they advanced up to 2.80%. (Image: AI generated)
Domestic equity benchmarks BSE Sensex and NSE Nifty declined for the second straight session on Wednesday, dragged down by financial and banking stocks amid uncertainty surrounding the US-Iran peace talks.
At close, the Sensex declined 141.90 points, or 0.19 per cent, to close at 75,867.80, while the Nifty edged down 6.55 points, or 0.03 per cent, to settle at 23,907.15.
Top gainers & losers
Among Sensex constituents, HDFC Bank emerged as the top loser, declining 2.63% to Rs 758.50. Infosys followed with a 0.71% fall, while ITC, Hindustan Unilever (HUL), Reliance Industries and ICICI Bank dropped 0.61%, 0.53%, 0.51% and 0.50%, respectively.
While stocks such as Power Grid, Eternal and NTPC were among the gainers on the 30-pack index, they advanced up to 2.56%.
"Main indices remain range‑bound, while midcaps have entered a new zone supported by recovering domestic inflows that are offsetting FII selling. This shift reflects expectations of an earnings and valuation reset as prospects for US–Iran peace improve,” said Vinod Nair, Head of Research, Geojit Investments Ltd.
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Five stocks, namely HDFC Bank, Reliance Industries, ICICI Bank, Infosys and ITC, contributed largely to the Sensex’s fall.
Among sectoral indices, the BSE Top 10 Banks Index declined 0.90% to end at 16,202.22, while the overall BSE Bankex index dropped 0.48% to settle at 61,796.59.
“Although Q1FY27 may be soft, India’s strong macro fundamentals suggest that one weak quarter is unlikely to alter the broader outlook. In the near term, large caps are becoming attractive as they trade below their long‑term premium, and a revival in this segment is likely as FII selling eases based on developments in West Asia," Nair added.
“Going ahead, the immediate resistance for Nifty is placed in the 24030-24050 zone. Any sustainable move above this zone could result in Nifty extending its pullback towards 24200, followed by 24350 in the short term. On the downside, the immediate support for Nifty is placed in the 23720-23700 zone,” said Sudeep Shah, Head - Technical and Derivatives Research at SBI Securities.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: May 27, 2026 3:45 PM IST
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