Sensex ends 49 points lower, Nifty slips below 22,650; banks gain, pharma drags

Indian benchmark indices ended Wednesday's session lower, with the Sensex closing down 48.78 points at 72,480.29 and the Nifty falling 95.75 points to 22,620.45, driven by profit booking and a rebound in oil prices. Banking stocks were the key gainers, with the Nifty Bank index rising 0.69%, led by Kotak Mahindra Bank (up 2.86%) and ICICI Bank (up 2.31%). Pharma, healthcare, metal, and consumer durable shares saw significant selling pressure, while the IT index gained 0.13%. The India VIX rose 0.61% to 13.50, indicating modestly higher volatility. Analysts noted that elevated global bond yields and crude oil price trajectory remain key concerns, prompting investors to favor large-cap banking and IT stocks with attractive valuations.