Benchmark Index Nifty 50 slipped below 24,950, and the Sensex ended lower on Wednesday amid volatile trading as investors awaited key U.S. inflation data to gauge upcoming interest rate cuts.

U.S. inflation data, expected after the Indian market close on Wednesday, may show inflation nearing the Federal Reserve’s 2% target, potentially leading to a 25-basis-point rate cut in the upcoming meeting.

Sensex dropped 398.13 points to close at 81,523.16, while the Nifty Midcap 100 index fell 101 points to 58,938.05, and the Nifty Bank index declined 262.30 points to 51,010.

SpiceJet fell 3% after the Delhi High Court refused to quash a single-bench order concerning three engines. In light of discussions surrounding potential fundraising through QIP, JSW Infra gained 5% today.

Indus Towers saw minor gains after JPMorgan upgraded it to “Overweight,” and Century Textiles rose over 4%, extending its gains for a second straight day.

Major gainers for today included Prism Johnson, Century Textiles and Industries, Suzlon Energy, Goa Carbon, Indigo Paints, Shalimar Paints, Kansai Nerolac, Asian Paints, Berger Paints, and Shoppers Stop.

While the major losers included Infibeam Avenues, Tata Motors, Samvardhana Motherson International, and Oil India.

The market leaned towards declines, with an advance-decline ratio of 1:2, signalling more stocks fell than rose.

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