The Sensex index declined by 84.98 points, commencing at 80,166.96, whereas the Nifty index experienced a diminution of 15.35 points, initiating trading at 24,420.15.
Among the constituents of the Nifty index, the market landscape exhibited a slight negative bias, with 21 stocks registering gains, 27 encountering declines, and 2 maintaining their previous values.
Trent, HDFC Bank, Sun Pharma, HCL Technologies, and Hero MotoCorp emerged as the
Foreign Institutional Investors (FIIs) offloaded equities worth ₹5,684.63 crore on Wednesday. Domestic Institutional Investors (DIIs) bought equities worth ₹6,039.90 crore.
Shriram Subramanian, Founder and MD of InGovern Research Services, commented on the market trend, stating, "Markets have absorbed much of the selling by FIIs as DIIs continue to buy. Some mid and small caps stocks are available at attractive valuations.
Varun Aggarwal, founder and MD of Profit Idea, said, "The average directional index (ADX) average line is trending upward, indicating continued weakness, and options data shows a rangebound movement expected for today and tomorrow's expiry, with heightened activity around the 24,500 level."
The market's subdued opening reflects a cautious outlook as investors weigh global and domestic factors, with stock-specific movements driving the day's activity.
With inputs from ANI.
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