The Indian stock market continued to bleed on Wednesday, with Nifty extending losses for the seventh consecutive session as oil prices inched higher after Trump claimed the US is not engaged in any peace talks with Iran. Sensex lost around 326points to close below 76,910, while Nifty 50 dropped nearly 77 points to end the session at 24,078 on Wednesday.

Here's how analysts read the market pulseMarkets turned cautious ahead of the release of the US FOMC minutes, as investors remained concerned that the Federal Reserve’s battle against inflation may continue, said Vinod Nair, Head of Research at Geojit Investments. “Reflecting weakness across Asian markets, Indian equities saw broad-based selling, though IT stocks outperformed on value buying and support from a weaker rupee.

As the Q1FY27 earnings season draws to a close, corporate results have generally exceeded expectations, reinforcing confidence in earnings resilience. However, with temporary market tailwinds fading, the next phase of market performance will depend largely on the stability of crude oil supply chains,” the analyst further said.

S. stock indexes recovered on Wednesday after a technology-driven slump in the previous session as government bond yields retreated from multi-decade highs and investors assessed a slew of corporate updates.

Vaccine-maker Moderna's shares more than doubled after its personalized mRNA cancer therapy developed with Merck cut the risk of melanoma recurrence and spread in a late-stage trial. 18 billion.

S. Treasury announced it would double the size of liquidity support buyback operations for longer-dated bonds, boosting risk appetite.

S. Federal Reserve's July meeting minutes.

S. Treasury market stabilised.

Long-end sovereign yields act as an anchor for the price of nearly every other asset in financial markets, including mortgage rates. 51 points.

Tech view" The Nifty found support at the lower band of the rising channel. Besides, the index filled a gap on the daily timeframe.

80% Fibonacci retracement level also coincided with these support levels, where the index made a low. Immediate support is placed at 24,000–24,050; if this zone holds, the Nifty might stage a meaningful recovery.

On the other hand, if the Nifty fails to sustain above 24,000, significant bearishness could increase, dragging the index towards much lower levels. Therefore, long positions should be held with a strict stop-loss at 24,000,” said Rupak De, Senior Technical Analyst at LKP Securities.