Benchmarks remained under pressure through the afternoon session on Wednesday, with the Sensex trading at 77,598.09, down 582.63 points or 0.75 per cent, and the Nifty 50 at 24,218.90, down 179.80 points or 0.74 per cent, as of 1.30 pm. Markets opened with a sharp gap-down in the morning and have since stabilised in a narrow range, unable to recover meaningfully as crude oil prices stayed elevated on the back of fresh US military strikes on Iran.On the BSE, 3,412 stocks were traded, with 1,880 stocks declining against 1,357 advancing and 175 unchanged. Seventy-six stocks hit the lower circuit against 68 in the upper circuit. Fifty-nine stocks touched 52-week highs, while 35 hit 52-week lows.The broader markets showed relative resilience. The Nifty Midcap 100 was down 0.18 per cent and the Nifty Smallcap 100 fell 0.17 per cent, both outperforming the frontline indices. Nifty’s Advance Decline Ratio stood at 10:39:1.Among Nifty 50 gainers, Eternal led with a rise of 2.19 per cent to ₹295.75 from its previous close of ₹289.40. Bajaj Auto gained 1.34 per cent to ₹10,245.00 from ₹10,109.50, while Wipro added 1.12 per cent to ₹174.94 from ₹173.00. Trent rose 1.09 per cent to ₹2,959.60 from ₹2,927.80, and Hindalco edged up 0.63 per cent to ₹975.60 from ₹969.50.On the losing side, Jio Financial Services was the biggest drag, falling 3.03 per cent to ₹235.70 from ₹243.07. Max Healthcare dropped 2.23 per cent to ₹1,093.50 from ₹1,118.40, reversing its morning gains. Tata Consumer Products fell 2.12 per cent to ₹1,101.20 from ₹1,125.00. Shriram Finance declined 2.00 per cent to ₹1,045.50 from ₹1,066.80, while Hindustan Unilever fell 2.00 per cent to ₹2,164.70 from ₹2,208.80.Sectorally, the pharmaceutical sector continued to show relative resilience and outperformed the broader market. Selling pressure was visible across financials, FMCG, and consumer discretionary stocks. The Indian rupee remained under pressure near the ₹95.10 mark against the US dollar, squeezed by rising crude prices and elevated US Treasury yields.“The frontline indices started the day with a notable downward gap on the back of reports of geopolitical tension between the US and Iran resulting in a spike in Brent crude prices, however Nifty stabilised as the day matured, remaining in a 0.34 per cent range,” SBI Securities said in its mid-market note.In commodities, COMEX Gold was trading near the ₹4,120–₹4,100 support zone with a weak undertone. MCX Gold was below the ₹1,45,000 mark, while COMEX Silver took support near the $60 level. MCX Crude Oil held above ₹6,850, with the near-term bias remaining bullish subject to further West Asia developments. US Oil was trading above $72, facing resistance at $73–$73.80.“Brent crude has climbed back into the $72–73 per barrel range amid heightened geopolitical tensions and fears of supply disruptions,” said Ponmudi R, CEO of Enrich Money, adding that the rupee’s recent recovery has come under renewed pressure as a result.On the technical side, SBI Securities placed Sensex support at 77,400 and resistance at 78,200. For Nifty, the 24,120–24,140 zone is seen as a crucial support, while resistance lies at 24,370–24,390. Meaningful call writing was seen at 24,300 and 24,400 strikes, while 24,200 on the put side carried substantial open interest.Published on July 8, 2026