Indian equity benchmarks Sensex and Nifty opened lower on Wednesday, reflecting mixed global market trends and investor caution driven by tariff uncertainties and the onset of the Q1 FY26 earnings season. The BSE Sensex dropped 170.42 points to 83,542.09, while the NSE Nifty fell 44.35 points to 25,478.15 in early trade.

Major laggards in the Sensex included Larsen & Toubro, Tata Steel, ICICI Bank, HCL Tech, Infosys, and Kotak Mahindra Bank. Meanwhile, Hindustan Unilever, Asian Paints, Maruti, and Titan emerged as gainers, offering some resilience amid the downturn.

V.K. Vijayakumar, Chief Investment Strategist at Geojit Investments Limited, noted, “Markets are sidelining tariff-related noise and awaiting clearer signals. The Q1 earnings will likely be a key driver in the near term.” The U.S. has extended its suspension of reciprocal tariffs from April 2 until August 1, adding to global trade uncertainty.

Also Read: Sensex, Nifty Dip in Early Trade as US Tariff Deadline and Weak Asian Markets Stir Caution

In Asia, South Korea’s Kospi and Shanghai’s SSE Composite traded higher, while Japan’s Nikkei 225 and Hong Kong’s Hang Seng saw declines. U.S. markets closed flat on Tuesday, contributing to the mixed global sentiment.

Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, highlighted upcoming events, stating, “With the Federal Open Market Committee minutes and TCS earnings on July 10, volatility is expected to rise.”

Global oil prices saw a slight dip, with Brent crude at $70.01 per barrel. Foreign Institutional Investors (FIIs) sold equities worth ₹26.12 crore on Tuesday, while Domestic Institutional Investors (DIIs) purchased stocks worth ₹1,366.82 crore, providing some market support.

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