The Indian equity markets posted notable losses early on Wednesday, weighed down by the US-Iran conflict and rising Brent crude prices.
Sensex lost 371 points, or 0.48 per cent, to reach 77,097 in morning trade while Nifty shed 106 points, or 0.44 per cent, to reach 24,081.
Main broad-cap indices performed in line with the benchmark indices, as the Nifty Midcap 100 lost 0.16 per cent, and the Nifty Smallcap 100 dipped 0.33 per cent.
Sectoral indices on NSE traded mostly in red, led by losses of Nifty pharma and mid small healthcare, down 0.99 per cent and 0.93 per cent, respectively, amid the fresh US phased tariff plan on generic drugs. Nifty PSU bank also logged strong losses, down 0.86 per cent.
Auto was the major gainer, up 0.79 per cent. FMCG, Metal and consumer gainers were the only other gainers, adding 0.09 to 0.15 per cent.
Meanwhile, Asian markets traded higher in early deals, tracking technology-led gains on Wall Street as investors awaited earnings from major US technology companies.
In Asian markets, China’s Shanghai index gained 0.35 per cent, and Shenzhen added 0.36 per cent, Japan’s Nikkei advanced 1.93 per cent, and Hong Kong’s Hang Seng Index eased 0.69 per cent. South Korea’s Kospi added 4.31 per cent.
The US markets ended in green overnight as Nasdaq gained 1.29 per cent. The S&P 500 advanced 0.89 per cent, and the Dow Jones added 0.74 per cent.
On July 21, foreign institutional investors (FIIs) net bought equities worth Rs 1,650 crore, while domestic institutional investors (DIIs) net sold equities worth Rs 656 crore.
—IANS
