Sensex Slips 199 Points, Nifty Below 26,150 in 3rd Straight Session

Market Update at 10:12 AM: Indian equity markets opened lower for the third consecutive session on Wednesday, extending the ongoing cautious trend. The BSE Sensex was trading around the 84,864 level, down 199 points or 0.23 per cent in early trade.

The NSE Nifty50 also remained under pressure, hovering near 26,125, lower by 54 points or 0.2 per cent. During the session, the benchmark index slipped to an Intraday low of 26,104.

Selling pressure was visible across heavyweights, with 18 of the 30 Sensex stocks trading in the red. HDFC Bank led the losses, declining 1.3 per cent, followed by Bajaj Finserv, Bajaj Finance, Bharti Airtel, Maruti Suzuki, Hindustan Unilever, NTPC, UltraTech Cement, Sun Pharma, Larsen & Toubro, and Mahindra & Mahindra.

However, gains in select stocks helped limit the downside. Titan Company surged 3.7 per cent, while HCL Technologies, Infosys, TCS, Tech Mahindra, Eternal, Reliance Industries, and Tata Steel also traded higher.

Broader markets outperformed the benchmarks. The Nifty MidCap index rose 0.31 per cent, while the Nifty SmallCap index gained 0.28 per cent, indicating selective buying in non-Large-Cap stocks.

On the sectoral front, the Nifty Financial Services index was the worst performer, slipping 0.4 per cent. The Nifty Auto index declined 0.3 per cent, while the Nifty Private Bank index eased 0.2 per cent. In contrast, the Nifty IT index climbed 1 per cent, supported by buying in technology stocks. The Nifty Metal index advanced 0.7 per cent, and the Nifty FMCG index edged up 0.16 per cent.

In corporate developments, Premier Energy and Infrastructure and Galaxy Agrico Exports are scheduled to announce their Q3 FY26 results later today, which could influence stock-specific action.

Pre-Market Update at 7:57 AM: Indian equity benchmarks Sensex and Nifty 50 are expected to open on a flat-to-weak note on Wednesday, January 7, tracking mixed cues from Asian markets and cautious global sentiment.

Gift Nifty trends indicated a negative start for domestic indices, with Gift Nifty trading at 26,214.5, down 67 points or 0.25 per cent from the previous close of Nifty futures.

In the previous session on Tuesday, January 6, both Sensex and Nifty extended losses for the second straight day amid profit booking after recent record highs, despite largely positive global cues. The Sensex slipped over 500 points intraday to hit a low of 84,900.10, while the Nifty 50 fell to 26,124.75. By the close, the Sensex ended down 376 points, or 0.44 per cent, at 85,063.34, and the Nifty 50 declined 72 points, or 0.27 per cent, to settle at 26,178.70.

Asian markets were mixed on Wednesday as investors reacted to regional economic data. Australia’s ASX/S&P 200 rose 0.38 per cent after inflation data came in below expectations. Japan’s Nikkei 225 slipped 0.45 per cent, while the Topix declined 0.63 per cent. South Korea’s Kospi surged 1.89 per cent, even as the Kosdaq edged down 0.12 per cent. Hong Kong’s Hang Seng Index was set for a softer open, with futures at 26,685 compared with the previous close of 26,710.45.

Wall Street ended higher overnight, supported by a rally in chipmakers on renewed AI optimism, a sharp rise in Moderna shares and a record close for the Dow Jones Industrial Average. The S&P 500 gained 0.62 per cent to 6,944.82, the Nasdaq advanced 0.65 per cent to 23,547.17, and the Dow jumped 0.99 per cent to 49,462.08, nearing the 50,000 mark.

Investor sentiment in global markets remained resilient despite geopolitical tensions following the U.S. capture of Venezuelan President Nicolás Maduro. Markets appeared to focus more on the potential access of U.S. companies to Venezuela’s oil reserves.

Crude oil prices declined further on Wednesday. U.S. West Texas Intermediate crude fell 1.54 per cent to USD 56.25 per barrel after President Donald Trump said Venezuela would hand over 30 million to 50 million barrels of sanctioned oil to the United States. The commodity had already fallen more than 2 per cent in the previous session.

Gold prices held steady after three consecutive sessions of gains, trading near USD 4,500 per ounce. Investors shifted focus toward key US economic data later this week, even as geopolitical risks remained elevated.

The US dollar edged higher against major currencies. It rose 0.49 per cent against the Swiss franc and gained 0.14 per cent versus the Japanese yen. The euro weakened after softer inflation data from Europe, while market reaction to the Venezuela developments faded across currency markets.

Overall, domestic markets are likely to remain range-bound on January 7, with global cues, crude oil movements and institutional flows expected to guide intraday direction.

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Disclaimer: The article is for informational purposes only and not investment advice.