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Frontline indices, the Sensex and the Nifty 50, declined for the third consecutive session on Wednesday, January 7, amid mixed global cues. The Sensex dropped 102 points, or 0.12%, to end at 84,961.14, while the Nifty 50 settled at 26,140.75, down 38 points, or 0.14%. The mid and small-cap indices outperformed. The BSE Midcap and Smallcap indices rose 0.47% and 0.12%, respectively.

Stock market benchmarks ended in the red for the third consecutive session, reflecting cautious market sentiment ahead of the start of the Q3 earnings season.

Relentless FII selling remains a key concern, and if the December quarter earnings fail to meet expectations, it may aggravate foreign capital outflow. Even though DIIs may remain net buyers, continuous FII selling will likely result in a prolonged period of modest returns.

Besides, news flows on the India-US tarde deal front are further weighing on sentiment. US President Donald Trump has threatened to increase tariffs on India due to its purchase of Russian oil.

"Domestic market sentiment remains cautious with risk-off undertones ahead of Q3FY26 earnings and key US jobs data. While QoQ corporate earnings are expected to improve, FIIs remain risk-averse amid global trade uncertainty," Vinod Nair, Head of Research, Geojit Investments, noted.

Titan Company (up 3.94%), HCL Technologies (up 2.36%), and Wipro (up 1.79%) ended as the top gainers in the index.

Cipla (down 4.28%), Maruti Suzuki India (down 2.81%), and Tata Motors Passenger Vehicles (down 1.60%) ended as the top losers in the index. As many as 30 stocks ended in the red in the index.

Nifty IT jumped 1.87%, while Consumer Durables rose by 1.69%. Nifty Pharma (up 0.69%) also clocked decent gains.

Nifty Auto, on the other hand, dropped 0.80%. Nifty Bank fell 0.21% to 59,990.85, while the Financial Services index fell 0.33%.

Vodafone Idea (45.7 crore shares), YES Bank (18.9 crore shares), and PC Jeweller (18.9 crore shares) were the most active stocks in terms of volume on the NSE.

Rollatainers, National Standard (India), NRB Industrial Bearings, Palm Jewels, Tribhovandas Bhimji Zaveri, and Shanti Gold International were among the 15 stocks that surged more than 15% on the BSE despite weak stock market sentiment.

Out of 4,350 stocks traded on the BSE, 2,104 advanced, while 2,068 declined. Some 178 stocks remained unchanged.

(This is a developing story. Please check back for fresh updates.)

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stories by Nishant Kumar

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