Indian Market Faces Moderate Losses Amid Global Rally

The Indian equity market is expected to open with moderate losses on Wednesday, according to GIFT Nifty's indication of a weak start. The Nifty snapped its four-session winning streak in the previous session.

Asian markets have been rallying for six consecutive days, driven by the strength of technology stocks. Brent crude prices also fell below $100 a barrel as Saudi Arabia began restoring supplies through a key pipeline and investors await progress towards a diplomatic resolution of the US-Iran conflict.

GIFT Nifty was trading at 23,345 around 8 am, down 55 points, or 0.24 percent. The Sensex fell 329.91 points, or 0.44 percent, to 74,529.08, while the Nifty declined 85.30 points, or 0.36 percent, to 23,329.