Indian equities were largely flat in early Wednesday trading, as momentum in the recent market rally showed signs of fatigue. Investors are weighing rising tensions with Pakistan and cautious guidance from key financial firms.
As of 9:43 a.m. in Mumbai, the NSE Nifty 50 Index hovered at 24,338.80, while the BSE Sensex was also little changed. Indian stocks have underperformed relative to other Asian markets in five of the past six sessions, even as the broader MSCI Asia Pacific Index rose 0.4%.
The Indian market had rallied roughly 10% earlier this month, driven by foreign inflows on the belief that India remains relatively shielded from global trade disputes, particularly the U.S.–China trade war under President Trump. However, recent geopolitical developments—most notably a deadly terrorist attack in Kashmir—have dampened risk sentiment.
Bajaj Finance fell as much as 5.9% after the company cut its assets under management growth guidance. Meanwhile, IndusInd Bank declined following the resignation of its CEO.
Within the Nifty 50, 33 stocks advanced while 17 declined.
