Bulls Lose Steam on Tariff Uncertainty

Broader market registers losses for 2nd consecutive day

- ABHISHEK KUMAR

Benchmark indices ended their seven-day winning streak on Wednesday, driven by profit-taking and uncertainty surrounding next week's anticipated US tariff announcements. The Nifty 50 declined 0.77 per cent, or 182 points, closing at 23,487, while the Sensex dropped 729 points, or 0.93 per cent, to settle at 77,288. Following the fall, year-to-date returns for both indices slipped into negative territory.

The broader market extended losses for a second day, with the Nifty Midcap 100 and Nifty Smallcap 100 indices falling 0.6 per cent and 1.1 per cent, respectively.

This retreat follows a six-day rally during which both indices had surged nearly 10 per cent each. The Sensex and Nifty had gained 5.7 per cent over the prior seven sessions, fueled by renewed foreign inflows and value buying.