The BSE Sensex dropped 148 points, or 0.6%, to 81,681 in morning trade on Wednesday, retreating for a third straight session to hit its lowest level since October 3, tracking a downbeat session on Wall Street overnight amid lingering concerns over global trade and geopolitical tensions. Disappointing quarterly earnings results further pressured sentiment, with heavyweights Reliance Industries and ICICI Bank missing estimates. Persistent foreign outflows also weighed on sentiment. However, traders continued to brace for the release of Q3 earnings reports from several companies later today, including Dr Reddy’s Laboratories and Hindustan Petroleum Corp. The Nifty 50 dropped 0.5% to below 25,100, while small-cap and mid-cap stocks fell 0.8% and 1.2%, respectively. Most sectors traded in the red, including technology, banking, and financial services. Among the worst performers were ICICI Bank (-1.6%), Larsen & Toubro (-1.0%), Infosys (-0.9%), HCL Tech (-0.9%), and HDFC Bank (-0.6%).
