The Indian equity benchmarks extended their losing streak into a third straight session on Wednesday, January 7, closing marginally lower amid fragile global cues and tariff-related concerns. The domestic market opened on a weak note, mirroring losses in key Asian markets, and saw selling pressure intensify in the first half.
Indices Close Lower, But Broader Markets Shine
Despite a sharp recovery led by technology stocks in the latter part of the trading day, the headline indices failed to climb into positive territory. The Nifty 50 index declined by 0.13% to end at 26,143 points. Similarly, the S&P BSE Sensex dropped 0.14%, closing at 84,944 points.
In a sign of underlying bullish sentiment, the broader markets significantly outperformed the frontline indices. The Nifty Midcap 100 index advanced by 0.45%, while the Nifty Smallcap 100 index gained 0.39%.
Sectoral Performance: A Mixed Bag
The sectoral landscape presented a divergent picture. On the gaining side, the Nifty IT index led the pack with a rise of 1.9%. It was supported by the Nifty Consumer Durables, Nifty Chemicals, and Nifty Pharma indices, which posted gains between 0.60% and 1.9%.
Conversely, several sectors faced selling pressure. The Nifty Auto, Nifty Oil & Gas, Nifty Realty, and Nifty PSU Bank indices ended the day in the red, registering losses in the range of 0.3% to 0.80%.
Key Stocks in Focus: The Day's Biggest Movers
Several prominent stocks witnessed significant declines, featuring among the day's top losers. Notable names included Reliance Infrastructure, Cipla, OLA, Maruti Suzuki, and Hindustan Copper. Their underperformance contributed to the overall subdued mood in specific sectors like auto and PSUs.
The session's trading activity highlighted continued investor caution against a backdrop of mixed global signals and fresh worries over international trade tariffs. However, the resilience in midcap and smallcap stocks, along with the strong showing in the technology sector, prevented a steeper fall in the market.
