The Indian Stock Markets on Wednesday ended with the losses taking global cues and also recorded sharp fall N Chandrasekaran announced to step down from Tata Sons.

At close, the Sensex sheds 187.90 points or 0.24% at 77,966.35 while Nifty was at 24,435.95, down by 35.75 points or 0.15%.

Sell-off in Tata Shares:

The stocks of Tata Group has declined over 4 per cent losing Rs 46,000 Crore in terms of market value after the chairman of Tata Sons N Chandrasekaran said he would not seek reappointment.

Share prices of Tata Consultancy Services fell 4.12%, Tata Motors dropped 2.47%, while Tejas Networks declined 2.34%, Tata Consumer Products fell 1.81%, Tata Communications lost 1.63% and Tata Steel declined 1.55%.

Further, Tata Teleservices (Maharashtra) fell 1.24%, while Tata Power and Tata Elxsi each declined 1.20%.

Global gains:

Gains in the global markets also triggered positive sentiments for the Indian markets. South Korea’s Kospi closed around 4% higher and the small-cap Kosdaq closed slightly higher.

In Japan, the Nikkei 225 and the broader market Topix both closed around 1% higher. China’s CSI 300 was also in the green in the region, while Singapore’s FTSE Strait Times closed lower.

Vinod Nair, Head of Research, Geojit Investments Limited said, “Markets remained on edge ahead of key inflation readings in India and the U.S., with policymakers on both sides underscoring a data-driven approach amid heightened global uncertainty. Against this backdrop, elevated crude oil prices, which retested the $90/barrel level, weighed on investor confidence and triggered broad-based risk-off selling despite supportive cues from Asian peers.”

“Defying the broader weakness, PSU banks extended gains on the back of robust asset quality, attractive valuations and healthy credit growth outlooks, while metal stocks outperformed on expectations of tighter supply conditions. Meanwhile, Tata Group stocks came under pressure following the Chairman’s exit, contributing to the underperformance of large-cap stocks relative to the broader market.”

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