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Market Commentary

Indian benchmark indices opened on a weak note and extended their losses throughout the session . Selling pressure intensified in the second half following fresh geopolitical escalation, triggering broad - based risk aversion across the market . The Nifty slipped below the 24 ,000 levels and closed near its day's low, reflecting a sharp deterioration in market sentiment .

* At close, the Nifty 50 declined 2.12% to settle at 23 ,882 , while the Sensex fell 2.15% to close at 76,503 .60 .

* On the sectoral front, all major sectoral indices ended in negative territory . Nifty FMCG and Private Banks emerged as the biggest laggards, witnessing significant selling pressure . Although Nifty Metal outperformed relative to other sectors, it too ended the session in the red as widespread selling prevailed across the market .

* The broader market also witnessed heavy selling pressure . The Nifty Midcap 100 index declined 1.55 %, while the Nifty Small cap 100 index fell 2.24 %, indicating sharper weakness in the broader market and heightened risk - off sentiment among investors .

* Gift Nifty signals a flat to positive start to the Indian market . Nifty spot in today's session is likely to trade in the range of 23 ,650 - 24 ,150 .

Global Updates

* Structural cross - currents dominated New York cash benches on Wednesday . Tensions in the Middle East escalated after U.S . President Donald Trump formally declared the fragile ceasefire with Iran "over", following repeated projectile and missile strikes on commercial ships transiting the Strait of Hormuz .

* While institutional desks stepped up to backstop tech mega - caps, standard blue - chip industrials faced intense distribution under the surface of the index .

* Corporations are bracing for the release of second - quarter corporate reporting cycle .

* Asian regional centres are completely decoupling from the broader overnight Wall Street gloom, flashing deep green numbers as programmatic desks aggressively front - run a major tech and semiconductor short - covering sweep : Nikkei 225 : +1,508 .35 pts (+ 2.26 %) KOSPI : +276 .03 pts (+ 3.81%) S&P/ASX 200 (XJO) : - 61.0 pts (- 0 .69 %)

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