The Indian stock market benchmark indices, Senex and Nifty 50, are likely to open lower on Wednesday tracking weak global market cues.The trends on Gift Nifty also indicate a negative start for the Indian benchmark index.

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,

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,

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.

The slide marks the fifth consecutive losing session for both indices, driven by the latest inflation report that showed prices climbing to a 14-month high of 6.21 percent, breaching the Reserve Bank of India's upper tolerance limit.

Share Market Updates - Find here all the updates related to Sensex, Nifty, BSE, NSE, share prices and Indian stock markets for 12 November, 2024.

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.