India Market Wrap: Nifty Ends Below 25,500; Vedanta, Reliance Drag, FMCG & Smallcaps Shine

Indian equity markets ended lower on Wednesday, with the Nifty index slipping back below the 25,500 mark. US President Donald Trump stated that he will announce new tariffs for seven more countries later today, and investors await developments on the U.S.-India trade deal. 

The Sensex closed 176 points lower at 83,536, while the Nifty 50 ended 46 points higher at 25,476. Broader markets were mixed, with the Midcap index ending 0.1% lower, and the Smallcap index bucking the trend with 0.6% gains. 

The retail investor sentiment surrounding the Nifty 50 has moved back to ‘bullish’ on Stocktwits.

Sectorally, FMCG, consumer durables and auto indices gained, while metal and real estate were the biggest losers. 

IT sectors also ended lower, led by HCL Tech and Tech Mahindra. TCS ended lower ahead of its first quarter (Q1 FY26) earnings tomorrow. 

Vedanta ended 4% lower after a short-seller report from Viceroy Research accused the company of financial misgovernance. Hindustan Zinc fell 3%. Vedanta has rejected the allegations and labeled the Viceroy report as “malicious, baseless, and misleading.” 

SEBI-registered analyst Mayank Singh Chandel noted that the stock is facing resistance around ₹476. It’s also trading near its all-time high, but the RSI (Relative Strength Index) is at 42.85, which means sellers still have control. The stock isn’t yet in the oversold zone. He advised against taking new positions for now and waiting for a clear price movement before making any decision.

Reliance shares ended 2% lower after its subsidiary Jio Platforms reportedly delayed IPO plans beyond 2025.

Akzo Nobel ended 2% lower, driven by a large block deal in the last hour of trade. And Synergy Green shares rose 5% on an order win from Adani Wind. 

Globally, European markets traded higher, while US stock futures indicate a negative start on Wall Street.

For updates and corrections, email newsroom[at]stocktwits[dot]com. 

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