Indian equities fell for a second day straight on Wednesday, as downbeat sentiment prevailed over trade concerns and a rise in crude oil prices.
The BSE Sensex slipped 0.3%, or 244.98 points, to finish Wednesday's session at 83,382.71. Likewise, the NSE Nifty 50 declined 0.3%, or 66.70 points, to 25,665.6.
The threat of a 25% tariff on countries trading with Iran looms, as U.S. President Donald Trump intensified support for Iranian protestors by promising help and urging them to take over institutions.
This has led to oil prices soaring over 2% and safe-haven gold reaching record highs, according to a Reuters report.
Tata Steel (NSE:TATASTEEL, BOM:500470) led gainers on Wednesday and advanced 4%, with NTPC (NSE:NTPC, BOM:532555) and Axis Bank (NSE:AXISBANK, BOM:532215) ending the day 3% higher.
Asian Paints (NSE:ASIANPAINT, BOM:500820), Tata Consultancy Services (NSE:TCS, BOM:532540), and Tata Consumer Products (NSE:TATACONSUM, BOM:500800) were the top losers, each closing the day's trade around 2% lower.
In corporate news, Union Bank of India (NSE:UNIONBANK, BOM:532477) said its consolidated net profit rose to 50.7 billion Indian rupees in the fiscal third quarter ended Dec. 31, 2025, from 46.2 billion rupees a year ago. Shares soared 8%.
RailTel Corporation of India (NSE:RAILTEL, BOM:543265) bagged a 159.9 million Indian rupee cloud services contract from the Food Safety and Standards Authority of India. Shares closed 4% higher.