Indian shares opened lower on Wednesday as uncertainty around U.S. trade policy and rising crude oil prices weighed heavily on market sentiment.
Brent crude futures climbed to a five-week high above $92 a barrel, stoking fresh concerns about India’s inflation outlook, import bill, and corporate margins.
The benchmark 30-share Sensex dropped 562 points, or 0.7 percent, to 76,908 in early trade, signalling broad-based weakness across the market.
The broader NSE Nifty index mirrored the decline, falling 170 points, or 0.7 percent, to settle at 24,017 during the early session.
Pharmaceutical stocks came under pressure after U.S. President Donald Trump announced a phased tariff plan targeting imported generic medicines, hitting sector heavyweights hard.
Dr Reddy’s Laboratories and Sun Pharma each fell over 1 percent, while Lupin tumbled nearly 3 percent following Trump’s tariff announcement on generic drugs.
Adani Total Gas dropped nearly 1 percent after reporting a 14 percent year-on-year decline in its first-quarter consolidated net profit, disappointing investors.
JSW Infrastructure lost nearly 3 percent after the infrastructure company reported a 10 percent drop in its quarterly profit, adding to the session’s negative tone.
Bandhan Bank was among the sharpest fallers, plunging 14 percent after the lender cut its return-on-assets target and warned that higher funding and technology costs would continue to pressure margins.
Adani Power and Adani Green Energy each fell around 1 percent, while Eternal and Nestle India edged higher ahead of their first-quarter earnings results due later in the day.
Maruti Suzuki India bucked the broader trend, edging up slightly after the automaker announced price increases across its vehicle lineup.
TVS Holdings was a standout performer, surging nearly 4 percent after its first-quarter net profit soared 74 percent year-on-year, driven by increased revenue from operations.
The combination of geopolitical risk in the Middle East, elevated energy prices, and renewed U.S. trade policy uncertainty continues to cloud the near-term outlook for Indian equities.
