On Wednesday, Indian stock markets experienced slight declines ahead of the anticipated decision on interest rates from the Federal Reserve. In early trading, the S&P/BSE Sensex fell by 231 points, or 0.3%, settling at 80,453, while the NSE Nifty index dropped by 64 points, or 0.3%, to 24,271.
Key losers included Maruti Suzuki India, BEL, Larsen & Toubro, Power Grid Corporation, and Tata Motors, all of which slid between 1% and 2%. Conversely, healthcare stocks saw gains, with Cipla, Dr. Reddy's Laboratories, and Sun Pharma each rising by 1% to 2%.
Tarc notably plunged by 5.3%, marking its eighth consecutive day of losses. This follows the appointment of a forensic auditor by the Securities and Exchange Board of India (SEBI) to scrutinize the company’s financial statements covering fiscal years 2021 to 2023.
After the resignation of Hemal Jain, the global finance head and chief financial officer for Zomato’s business-to-business grocery supply segment, Hyperpure, Zomato's shares dipped approximately 1%. Meanwhile, NHPC fell by 0.5% following the announcement of its expansion plans.
Exide Industries saw a 1% increase after it revealed a Rs 100 crore investment into its fully owned subsidiary, Exide Energy Solutions. Conversely, REC experienced a 2% decline after raising Rs 2,195 crore through a bond issue. In contrast, Jindal Saw surged 2% after agreeing to acquire a 31.20% equity stake in ReNew Green Energy.
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