The Nifty settled below the 23,950 mark. Media, metal and auto shares advanced while financial services, private bank and oil & gas shared declined.

As per provisional closing data, the barometer index, the S&P BSE Sensex, declined 141.90 points or 0.19% to 75,867.80. The Nifty 50 index shed 6.55 points or 0.03% to 23,907.15. In the two trading sessions, the Sensex and Nifty decreased 0.81% and 0.51%, respectively.

The broader market outperformed the frontline indices. The BSE 150 MidCap Index added 0.83% and the BSE 250 SmallCap Index jumped 0.49%.

The market breadth was positive. On the BSE, 2,287 shares rose and 1,930 shares fell. A total of 185 shares were unchanged.

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, slumped 7.12% to 14.98.

The domestic stock market will remain closed on Thursday on account of Bakri Id.

In the commodities market, Brent crude for July 2026 settlement tanked $3.32 or 3.33% to $96.26 a barrel.

Buzzing Index:

The Nifty Financial Services index fell 0.69% to 25,752.20. The index declined 1.20% in the two consecutive trading session.

BSE (down 3.48%), HDFC Bank (down 2.52%), Max Financial Services (down 2.35%), HDFC Life Insurance Company (down 1.36%), SBI Life Insurance Company (down 0.97%), Muthoot Finance (down 0.62%), ICICI Lombard General Insurance Company (down 0.61%), ICICI Bank (down 0.52%), SBI Cards & Payment Services (down 0.51%) and Power Finance Corporation (down 0.13%) declined.

On the other hand, LIC Housing Finance (up 2.18%) ,Jio Financial Services (up 1.21%) and Shriram Finance (up 1.14%) added.

Stocks in Spotlight:

JK Tyre & Industries climbed 5.30% after the tyre maker posted a consolidated net profit of Rs 177.99 crore in Q4 FY26, marking an 80.18% jump from Rs 98.78 crore recorded in the corresponding quarter last year. Revenue from operations rose 12.36% YoY to Rs 4,223.44 crore in the quarter ended 31 March 2026.

Finolex Industries rallied 8.15% after the company's consolidated net profit jumped 58.74% to Rs 261.25 crore on a 12.12% increase in revenue from operations to Rs 1,313.88 crore in Q4 FY26 over Q4 FY25.

Gandhar Oil Refinery (India) rose 0.81%. The company's consolidated net profit surged 248.59% to Rs 40.68 crore in Q4 FY26 from Rs 11.67 crore in Q4 FY25. Revenue from operations climbed 13.69% YoY to Rs 1093.37 crore in Q4 FY26.

Gillette India advanced 5.09% after the company reported a 21.31% jump in standalone net profit to Rs 192.51 crore on a 3.19% rise in revenue from operations to Rs 792 crore in Q4 FY26 over Q4 FY25.

Advait Energy Transitions advanced 0.82%. The company's consolidated net profit surged 55.68% to Rs 17.67 crore in Q4 FY26 compared with Rs 11.35 crore posted in Q4 FY25. Revenue from operations zoomed 18.04% year on year to Rs 228.19 crore in the quarter ended 31 March 2026.

Kilburn Engineering fell 5.08%. The company has reported a 21.80% rise in consolidated net profit to Rs 24.86 crore in the fourth quarter ended 31 March 2026, compared with Rs 20.41 crore posted in the corresponding quarter last year. Revenue from operations surged 49.03% year-on-year to Rs 189.18 crore in Q4 FY26.

Kernex Microsystems (India) fell 0.72%. The company announced that it had secured an order worth Rs 475.21 crore from Chittaranjan Locomotive Works (CLW).

Global Markets:

The US Dow Jones index futures are currently up by 242 points, signaling a positive opening for US stocks today.

European stocks traded higher on Wednesday as regional investors assessed the latest military operations against Iran and declining oil prices.

Asian markets ended mixed as investors assessed recent U.S. military action in Iran, the fragile state of the Washington-Tehran ceasefire and optimism that a deal could still be reached.

As per media reports, the U.S. forces carried out what the Pentagon described as 'self-defense' strikes in southern Iran early Tuesday, targeting missile launch sites and Iranian vessels allegedly attempting to deploy mines, even as Washington insisted it was still observing restraint under the ongoing ceasefire framework.

The military action highlighted the fragile truce between Washington and Tehran, with both sides continuing to test limits despite negotiations that the White House has described as nearing completion, the reports added.

President Donald Trump reportedly said on Monday that talks with Iran to end the war were proceeding nicely.' That said, he did warn the U.S. could go on the offensive if negotiations break down.

Overnight on Wall Street, the S&P 500 and Nasdaq Composite rose to fresh intraday all-time highs on Tuesday, led by technology, as traders weighed the developments in the Middle East.

The broad market S&P 500 gained 0.61% and ended at 7,519.12, while the tech-heavy Nasdaq gained 1.19% to 26,656.18. Both indexes also closed at records. The Dow Jones Industrial Average lost 118.02 points, or 0.23%, ending at 50,461.68.

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