The stock market closed lower on Wednesday due to losses in consumer stocks amid weak earnings.

At close, Sensex declined 0.4%, shedding 312 points to close at 78,271, while the Nifty settled 0.18% lower, losing 43 points to end at 23,696.30.

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The market was dragged down by losses in consumer stocks amid weak earnings.

Broader markets remained resilient, with the BSE MidCap and SmallCap indices gaining 0.7% and 1.4 per cent respectively.

Throughout trading session, Nifty reached a high of 23,807.3 and a low of 23,680.45 while the Sensex exhibited a trading range between 78,735.41 and 78,216.25.

On Nifty, the gainers were Oil & Natural Gas Corporation (2.97%), Hindalco Industries (2.85%), Apollo Hospitals Enterprise (2.44%), Bharat Petroleum Corporation (2.07%), and Adani Ports & Special Economic Zone (1.71%).

While on the losing side were Asian Paints (3.36%), Titan Company (2.97%), Nestle India (2.20%), Hindustan Unilever (1.93%), and Britannia Industries (1.90%).

The Bank Nifty concluded the session at 50,157.95, having reached an intraday high of 50,522.15 and a low of 50,215.45.

Among the sectors, all settled in the green barring Nifty FMCG, Realty, Auto, and Consumer Durable indices, which ended lower by up to 1.85%.

Among others, Nifty PSU Bank, Metal, OMCs, and Media indices ended higher by over 1% each.

The rupee weakened to 87.4875 against the U.S. dollar before closing at 87.4650, down 0.4% on the day.

Among the individual performances, paint industry giant Asian Paints share tanked over 3% as the company reported disappointing Q3FY25 results.

Shares of Force Motors surged 6% following the release of its January sales data, signaling a strong performance in the commercial and utility vehicle segments.

MTNL shares jumped nearly 18% as optimism around its asset monetization plans for FY26 fueled a sharp rally.

Shares of Food delivery aggregator Swiggy fell 4% ahead of its quarterly results announcement.

Brokerage firm Angel One soared over 6 per cent after the company released its January business update.

The company in its business update announced that its client base has increased 48 per cent year-on-year to 3.01 crore in January 2025.

The shares of Titan fell 3 per cent following the company’s Q3 result as its net profit and margins saw an impact from the decrease in customs duty on gold.

Investor sentiment remained cautious ahead of the Reserve Bank of India’s key bi-monthly policy announcement scheduled for February 7.