Indian stock market today: Indian stocks closed lower on Wednesday as investors continued to book profits in financial counters following a strong rally, with the trend extending to state-owned banks as well. While metals, auto, and pharma stocks provided some support, it wasn’t enough to lift the frontline indices into the green.
Optimism over a potential US-India trade deal also failed to lift market sentiment, with the Nifty 50 ending the session down 0.38% at 25,443 points, while the Sensex closed 287 points lower at 83,409. The broader markets also finished the session in red, with Nifty Midcap 100 dropping 0.14% and the Nifty Smallcap 100 sliding 0.41%.
US President Donald Trump on Tuesday reiterated that Washington and New Delhi are close to striking a trade a deal, raising expectations that India could potentially avoid the 26% reciprocal tariffs, set to take effect after July 09. Trump has repeatedly stated that he has no intention of extending the tariff pause once the deadline expires.
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