Indices drift lower in early trade; VIX jumps 1.89%
The Nifty traded below the 26,200 level. Metal, PSU bank and financial services shares advanced while oil & gas, media and FMCG shares declined.
At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 356.30 points or 0.42% to 85,078.23. The Nifty 50 index fell 79.35 points or 0.30% to 26,170.95.
In the broader market, the S&P BSE Mid-Cap index fell 0.07% and the S&P BSE Small-Cap index shed 0.16%.
The market breadth was negative. On the BSE, 1,364 shares rose and 1,633 shares fell. A total of 187 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was up 1.89% to 10.21.
Foreign portfolio investors (FPIs) sold shares worth Rs 36.25 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,764.07 crore in the Indian equity market on 05 January 2026, provisional data showed.
Stocks in Spotlight:
Dabur India fell 2.54%. The company said that it expects consolidated revenue to grow in the mid-single digits with operating profit and Profit after Tax to grow ahead of revenue in Q3 FY26. During the quarter, early signs of demand recovery were witnessed, aided by GST rate revisions. Post trade stabilisation, consumer sentiment improved in urban and rural areas. Rural demand continued to outperform urban demand this quarter as well.
Kotak Mahindra Bank rose 0.90%. The bank?s average total deposits climbed 14.7% to Rs 5,26,025 crore as of 31st December 2025 compared with Rs 5,10,138 crore as of 31st December 2024. Average advances jumped 16.2% YoY to Rs 465,879 crore as of 31st December 2025.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.02% to 6.635 compared with previous session close of 6.633.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 90.1450 compared with its close of 90.3000 during the previous trading session.
MCX Gold futures for 5 February 2025 settlement added 0.18% to Rs 138,387.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.10% to 98.22.
The United States 10-year bond yield added 0.26% to 4.179.
In the commodities market, Brent crude for March 2025 settlement shed 18 cents or 0.29% to $61.58 a barrel.
Global Markets:
Asia-Pacific markets opened mixed Tuesday, building on a record-breaking rally in global stocks as investors continued to assess ongoing geopolitical tensions following the U.S.′ attack on Venezuela and capture of ousted leader Nicolas Maduro.
U.S. big oil got a boost from the country's military raid at the weekend that captured Venezuelan President Nicolas Maduro. Crude oil eased back after rising $1 a barrel overnight as traders assessed the possible impact on crude flows from Venezuela, home to the world's largest oil reserves.
Overall, however, the events had a limited effect on risk sentiment, with equities driven more by momentum and currencies focused on macroeconomic data.
U.S. President Donald Trump said he would put Venezuela under temporary American control and that he could order another strike if the South American nation does not cooperate with U.S. efforts to open up its oil industry and stop drug trafficking. He also threatened military action in Colombia and Mexico.
Trump plans to meet with executives from U.S. oil companies later this week to discuss boosting Venezuelan oil production, media reports stated.
Overnight in the U.S., stocks rose even after the U.S.′ attack on Venezuela, as crude oil prices advanced and investors bet the action would not lead to broader geopolitical conflict.
The Dow Jones Industrial Average gained 594.79 points, or 1.23%, to close at 48,977.18. The 30-stock index also hit a new all-time high in the session. The S&P 500 advanced 0.64% and ended at 6,902.05. The Nasdaq Composite added 0.69%, settling at 23,395.82.
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