Sensex, Nifty declines in red zone as selling pressure drags markets after positive start

Indian Stock Exchange benchmark indices fell after a positive start, with selling pressure pushing the markets into negative territory. The Nifty 50 opened with a gain of 64.70 points (0.28%) at 23,518.50, while the BSE Sensex added 132.73 points (0.17%) to start at 77,711.10.

However, early optimism quickly faded as selling pressure dominated the session. By 9:43 a.m., the Sensex had dropped 610.10 points, or 0.79%, to 76,968.28, while the Nifty declined 209.65 points, or 0.89%, to 23,308.85.

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Market experts suggest that volatility may continue into next week, with state election results expected to play a key role in shaping investor sentiment. Among the major losers on the Nifty 50, Adani Enterprises and Adani Ports hit their lower circuit limits, both tumbling nearly 10%.

Shares of Adani Green Energy also saw steep declines, plunging 18%. In Asia, selling pressure persisted, with Japan’s Nikkei 225 down 0.84% and Hong Kong’s Hang Seng dropping 0.19%.

However, South Korea’s KOSPI and Indonesia’s Jakarta Composite posted modest gains. In the U.S., the S&P 500 and Nasdaq indices closed nearly flat on Wednesday, indicating a phase of consolidation in global markets.

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