Indian benchmark equity indices opened lower on Wednesday after a rise in October retail inflation reduced expectations of a rate cut by the Reserve Bank of India (RBI) next month. This, coupled with weak earnings and ongoing foreign outflows,

Wednesday was another day of fall for benchmark stock indices Sensex and Nifty as US 10-year bond yields spiked and dollar hit four-month high against a basket of major currencies, ahead of US CPI inflation data later in the day.

Indian benchmark indices Nifty 50 and Sensex ended the previous trade session over 1% lower. Nifty 50 closed at 23,883.45, while Sensex ended at 78,675.18. Overnight, Wall Street indices Dow Jones and S&P 500 ended lower,

The Indian Rupee kept its slide against the US Dollar intact on Wednesday morning trading above 84.40 levels, as Sensex and Nifty traded in the red. The Rupee hit a new record low of 84.42 on Tuesday.

Indian equity markets rose on Tuesday, with the BSE Sensex and Nifty50 gaining ground after a cautious start to the week. Strong investor interest in companies like Tata Motors and Asian Paints contributed to the upward trend.

Sun Pharma, Trent, HCL Tech, Infosys, and ONGC were among the top gainers on the Nifty index. Britannia Industries, HDFC Bank, NTPC, and Tata Motors were among the top losers.