The key equity benchmark traded with moderate losses in afternoon trade, as mixed global sentiment weighed on investor confidence. Investors remained cautious, adopting risk-off approach. The Nifty traded below the 25,500 level.

Realty, PSU Bank and oil & gas shares declined while metal, consumer durables and auto shares advanced.

At 13:27 IST, the barometer index, the S&P BSE Sensex declined 378.04 points or 0.45% to 83,319.25. The Nifty 50 index lost 126.15 points or 0.49% to 25,415.70.

In the broader market, the S&P BSE Mid-Cap index declined 0.58% and the S&P BSE Small-Cap index fell 0.44%.

The market breadth was negative. On the BSE, 1,623 shares rose and 2,284 shares fell. A total of 170 shares were unchanged.

Gainers & Losers:

Tata Steel (up 3.18%), JSW Steel (up 2.87%), Ultratech Cement (up 2.39%), Maruti Suzuki India (up 1.05%) and Tata Motors (up 1.02%) were the major Nifty50 gainers.

Bajaj Finserv (down 2.52%), Shriram Finance (down 2.51%), Bajaj Finance (down 1.98%), Bharat Electronics (BEL) (down 1.91%) and Indusind Bank (down 1.62%) were the major Nifty50 losers

Stocks in Spotlight:

Dev Information Technology (DEVIT) advanced 1.29% after the company announced that it has secured significant orders worth approximately Rs 4.4 crore from Alivus Lifesciences.

Lupin shed 0.81%. The company announced that it has received approval from the United States Food and Drug Administration (U.S. FDA) for its abbreviated new drug application (ANDA) for Loteprednol Etabonate Ophthalmic Gel, 0.38%

Adani Ports & Special Economic Zone (APSEZ) shed 0.36%. The company handled 41.3 MMT of total cargo volumes in June 2025, up 12% year-on-year (YoY) basis. For the quarter ended 30th June 2025, APSEZ handled 120.6 MMT of total cargo, up11% YoY, led by containers (up 19% YoY).

Paras Defence and Space Technologies added 2.92% after the company's subsidiary, Paras Anti-Drone Technologies has received a Rs 22.21 crore letter of intent (LoI) from France's Cerbair to supply 30 units of its CHIMERA 200 anti-drone system.

Dreamfolks Services declined 4.32% following the closure of the programs run for its clients including Axis Bank, ICICI Bank, effective from 1 July 2025.

South Indian Bank fell 1.77%. The company said that its gross advances jumped 8.02% to Rs 89,201 crore as of 30 June 2025 as against Rs 82,580 crore as of 30 June 2024.

Asian Paints slipped 0.72%. The Competition Commission of India (CCI) ordered an investigation into the company for allegedly abusing its dominant position in the decorative paints market. The move came following a complaint by Grasim Industries, which has recently entered the sector under its Birla Opus Paints brand. The complaint claimed that the company was discouraging distributors from selling Birla Opus products by offering incentives such as foreign travel and discounts in exchange for exclusivity.

Global Markets:

European market advanced as investors remained focused on the European Central Bank forum in Sintra, Portugal, on Wednesday, with ECB President Christine Lagarde due to address policymakers today

Most Asian stocks declined on Wednesday as investors evaluated recent comments from U.S. Federal Reserve Chair Jerome Powell. Powell stated on Tuesday that the central bank would have already cut interest rates if not for U.S. President Donald Trump's tariff policies.

In Singapore, stocks touched a record high on Wednesday morning, supported by local market strength despite broader global uncertainty.

Overnight in the United States, major indices ended the session with mixed results. The S&P 500 dipped 0.11% and the Nasdaq Composite declined 0.82%. In contrast, the Dow Jones Industrial Average rose 0.91%, reflecting some rotation into blue-chip stocks.

Investor sentiment remained cautious ahead of the July 9 tariff deadline, when reciprocal tariffs are scheduled to be reimposed unless a resolution is reached.

Tesla shares dropped 5.3% after President Trump criticized CEO Elon Musk, claiming he has benefited disproportionately from government subsidies. Trump also called for a review of Tesla's federal support.

The tension follows Musk's public criticism of a large tax and spending bill, which narrowly passed in the Senate on Tuesday. The bill is expected to add approximately 3.3 trillion dollars to the national debt. It now moves to the House of Representatives for further consideration, with President Trump aiming to sign it into law by the July 4 holiday.

Traders are now focused on Thursday's U.S. nonfarm payrolls report, which may influence the Federal Reserve's decision on a potential rate cut in July.

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