Market update: Sensex drops 100 points, Nifty tests 25,700; Eicher, Asian Paints weigh

Sensex slips 107 points as Nifty hovers near 25,700; markets turn stock-specific amid Q3 results.

Indian benchmark indices opened muted on Wednesday, with investors adopting a stock-specific approach as the Q3FY26 earnings season unfolds. Deteriorating geopolitical conditions and uncertainty over the US-India trade deal capped any upside.

The BSE Sensex was trading around 83,520, down 107 points or 0.13 per cent, while the Nifty50 was near 25,713, slipping 19 points or 0.07 per cent. In the broader market, the Nifty MidCap index fell 0.1 per cent, whereas the Nifty SmallCap index added 0.22 per cent.

Global cues

US markets ended lower on Tuesday amid caution over financial stocks. JPMorgan warned that President Donald Trump’s proposed cap on credit card rates could weigh on economic activity. Concerns over the Federal Reserve’s independence, amid Trump’s escalating criticism of Chair Jerome Powell, further dampened sentiment.

At the close, the S&P 500 fell 0.2 per cent, the Dow Jones dropped 0.8 per cent, and the Nasdaq eased slightly, reflecting cautious trading ahead of mixed earnings and policy risks.

Asian markets were mixed in early Wednesday trade. China’s CSI 300 rose 0.6 per cent, Hong Kong’s Hang Seng gained 0.3 per cent, while South Korea’s KOSPI slipped marginally. Japan’s Nikkei jumped 1.4 per cent, buoyed by expectations of a possible snap election.

Commodities trend

Geopolitical tensions lifted commodity prices. Brent crude futures climbed over 2 per cent to $65.47 a barrel, on concerns of potential disruptions in Iranian oil exports. Spot gold also rose, trading near elevated levels after previous record highs.