Markets decline for 2nd day on persisting geopolitical conflict

Mumbai: Falling for the second day, benchmark BSE Sensex closed lower by nearly 188 points on Wednesday following elevated crude oil prices and selling in TCS and other Tata Group shares after N Chandrasekaran said he will not seek reappointment as Tata Sons Chairman when his current term ends on February 20, 2027.

The 30-share BSE Sensex declined 187.90 points, or 0.24 per cent, to settle at 77,966.35 with its 21 constituents ending lower, eight with gains and one unchanged. During the day, it tumbled 656.32 points, or 0.83 per cent, to 77,497.93 but recovered some of the losses in the closing session.

Index major TCS dropped by 3.71 per cent after N Chandrasekaran announced that he will step down as chairman of group holding company Tata Sons when his current term ends in February 2027. Chandrasekaran, 63, has spent 40 years with the Tata Group, which includes his stint as TCS CEO from 2009 to 2017.The 50-share NSE Nifty dropped by 35.75 points, or 0.15 per cent, to end at 24,435.95.

Among Sensex shares, Mahindra & Mahindra, Tata Steel, Larsen & Toubro, Eternal and Infosys were the major losers.State Bank of India, Bharti Airtel, UltraTech Cement and Power Grid were among the winners.

“Markets remained on edge ahead of key inflation readings in India and the US, with policymakers on both sides underscoring a data-driven approach amid heightened global uncertainty.