GIFT Nifty was trading at 24,210 around 7:40 am, up 31 points or 0.13 percent, suggesting a largely flat start for the Nifty 50. The Sensex fell 492.70 points, or 0.63 percent, to 77,235.46 on Tuesday, while the Nifty declined 132.75 points, or 0.55 percent, to 24,154.90, extending its losing streak to a sixth consecutive session.
Asian equities dropped sharply on Wednesday as the global semiconductor sell‑off intensified. Rising bond yields added to concerns over the heavy capital expenditure tied to the artificial intelligence boom. The 30‑year US Treasury yield climbed to its highest level in nearly two decades.
MSCI’s Asia‑Pacific benchmark fell 1.6 percent, while South Korea’s Kospi plunged as much as 6.8 percent, led by steep losses in Samsung Electronics and SK Hynix, both falling more than 7 percent. Japan’s Topix declined 2.3 percent and Nikkei 225 futures fell 2.5 percent. Hang Seng futures were down 0.3 percent, and S&P 500 futures were little changed.
US stocks declined for a third consecutive session on Tuesday, with semiconductor shares leading losses as the prolonged Middle East conflict pushed bond yields higher and revived concerns over inflation and borrowing costs. The Nasdaq Composite dropped 1.33 percent, while the S&P 500 lost 0.69 percent, their steepest daily percentage declines since July 29. The Dow Jones Industrial Average fell 0.22 percent.
Crude oil extended gains for a fourth consecutive day as the US‑Iran conflict showed little sign of moving toward a resolution. Brent crude rose 0.29 percent to $91.28 a barrel, after gaining about 4.5 percent over the previous three sessions. US West Texas Intermediate crude advanced to $85.31 a barrel.
Ponmudi R, CEO of Enrich Money, said the expiry of the temporary 60‑day US‑Iran ceasefire without a meaningful diplomatic breakthrough has renewed concerns over prolonged disruptions to energy supplies. Combined with rising US Treasury yields, this has contributed to a broader risk‑off environment across global markets.
Ponmudi expects the Nifty’s near‑term technical structure to remain cautious to bearish. The 24,250‑24,300 zone is the immediate resistance, while a sustained move above 24,400 could stabilise the index and support a recovery toward 24,500‑24,600. On the downside, 24,150 is a key level to watch after Tuesday’s close at 24,154.90. A decisive break below it could intensify selling and expose the Nifty to the 24,000‑23,800 zone.
Institutional flows provided a more supportive domestic cue. Foreign institutional investors (FIIs) turned net buyers on Tuesday, purchasing Indian equities worth Rs 1,651 crore, reversing their selling in the previous session. Domestic institutional investors (DIIs) remained buyers for a sixth consecutive session, investing another Rs 2,579 crore in equities.