Sensex, Nifty slip for second day amid FII selling and trade deal caution
Benchmark equity indices closed lower for a second straight session on Wednesday as profit booking, foreign institutional selling, and F&O contract expiry on the BSE weighed on sentiment.
Investors tracked progress on the India-US trade agreement, ongoing Q3 earnings results, and global geopolitical developments, while remaining cautious ahead of a US Supreme Court ruling on the legality of President Donald Trump?s tariff measures.
The Nifty slipped below the 25,700 level. IT and automobile stocks led the declines, while metal stocks and PSU banks attracted buying interest.
The S&P BSE Sensex slipped 244.98 points or 0.29% to 83,382.71. The Nifty 50 index lost 66.70 points or 0.26% to 25,665.60. In two consecutive trading sessions, the Sensex declined 0.60% while the Nifty fell 0.48%.
Kotak Mahindra Bank (down 1.48%), ICICI Bank (down 1.42%) and HDFC Bank (down 1.32%) were major Nifty drags today.
In the broader market, the S&P BSE Mid-Cap index added 0.16% and the S&P BSE Small-Cap index rose 0.25%.
The market breadth was negative. On the BSE, 2,017 shares rose and 2,150 shares fell. A total of 178 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.09% to 11.32.
Indian stock exchanges will remain shut on Thursday, 15 January 2026, on account of the Maharashtra municipal corporation elections.
Economy:
India's inflation based on the all-India Wholesale Price Index (WPI) increased 0.83% year-on-year in December 2025, compared with a decline of 0.32% in November 2025. This marked the first increase in three months and the fastest pace since April, mainly supported by faster rises in manufacturing prices.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.32% to 6.648 compared with previous session close of 6.627.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 90.2975 compared with its close of 90.2300 during the previous trading session.
MCX Gold futures for 5 February 2026 settlement rose 0.74% to Rs 143,299.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.12% to 99.07.
The United States 10-year bond yield fell 0.29% to 4.159.
In the commodities market, Brent crude for March 2026 settlement added 18 cents or 0.27% to $65.65 a barrel.
Global Markets:
Dow Jones futures are down by 173 points, signaling a negative start for US stocks today.
Most European indices traded higher on Wednesday as investors focused on a meeting between U.S., Greenlandic and Danish officials to discuss the future of the Arctic island.
Asian indices ended higher as Japanese indexes hit record highs on Wednesday.
The rally in Japanese stocks was fuelled by expectations that Prime Minister Sanae Takaichi could call for a snap election, likely in February. If called, it will be Takaichi's first time facing Japan?s voters in an election.
Overnight in the U.S., all three major indexes fell as investors grappled with volatility from a flurry of proposals from U.S. President Donald Trump floated in the past few days.
The S&P 500 dipped 13.53 points or 0.2% to 6,963.74, as investors sold JPMorgan despite better-than-expected numbers. The Dow Jones Industrial Average shed 398.21 points or 0.8% to 49,191.99. The Nasdaq Composite fell 24.03 points or 0.1% to 23,709.87.
Stocks in Spotlight:
Infosys rose 0.07%. The IT major reported Q3 revenue of Rs 45,479 crore, up 8.9% YoY and 2.2% QoQ. In constant currency terms, revenue grew 1.7% YoY and 0.6% QoQ.
Reported IFRS operating margin stood at 18.4%, lower than 21.3% in Q3 FY25. Net profit after non-controlling interests came in at Rs 6,654 crore, down 2.2% YoY and 9.6% QoQ, impacted by a one-time Rs 1,289 crore charge related to the implementation of the labour codes.
The company reported large deal total contract value of $4.8 billion, with net new deals accounting for 57%. For FY26, Infosys raised its constant currency revenue growth guidance to 3.0%-3.5% from 2%-3% earlier, while maintaining its operating margin outlook at 20%-22%.
Larsen & Toubro shed 0.58%. The company said that its Heavy Civil Infrastructure business has secured a ?large? order from Torrent Energy Storage Solutions for the construction of India?s biggest pumped storage project in Raigad, Maharashtra.
Just Dial slipped 2.05% after the company reported 10.2% decline in net profit to Rs 118 crore despite a 6.4% rise in operating revenue to Rs 305.7 crore in Q3 FY26 as compared with Q3 FY25.
Tata Elxsi fell 5.08% after the company reported 45.28% decline in net profit to Rs 108.89 crore in Q3 FY26 as against Rs 199 crore posted in Q3 FY25. However, revenue from operations rose 1.52% to Rs 953.47 crore in Q3 FY26 as against Rs 939.17 crore posted in Q3 FY25.
5paisa Capital jumped 7.60%. The company reported a 23.98% decline in consolidated net profit to Rs 12.30 crore for the quarter ended 31 December 2025, compared to Rs 16.18 crore in the same quarter last year. Total revenue from operations fell 7.02% YoY to Rs 79.28 crore in the quarter ended 31 December 2025.
Puravankara surged 9.82% after the real estate developer reported a 17% increase in sales value to Rs 1,414 crore in Q3 FY26, compared with Rs 1,209 crore in Q3 FY25. The company?s collections climbed 22% YoY to Rs 1,140 crore in Q3 FY26.
Billionbrains Garage Ventures (Groww) added 0.95%. The company?s consolidated net profit jumped 16.04% to Rs 546.33 crore on 19.37% increase in revenue from operations to Rs 1,216.07 crore in Q3 FY26 over Q2 FY26.
Union Bank of India surged 8.03% after the bank reported 8.97% rise in net profit to Rs 5,017 crore on a 1.55% increase in operating income to Rs 13,869 crore in Q3 FY26 as compared with Q3 FY25.
Indian Overseas Bank added 1.83% after the bank's standalone net profit jumped 56.25% to Rs 1,365.12 crore in Q3 FY26 as against Rs 873.66 crore in Q3 FY25. Total income rallied 15.01% year on year (YoY) to Rs 9,671.58 crore in Q3 FY26.
Mini Diamonds India added 2.78% after the company said it has received an order worth Rs 14 crore from Aura Diamond, a Mumbai-based domestic entity, for the supply of lab-grown polished diamonds.
Kolte-Patil Developers rose 1.02%. The company said that it has signed a joint development deal for a 1.1 million square feet residential project in Bhugaon, Pune, that has an expected gross developable value (GDV) of Rs 850 crore.
Responsive Industries fell 1.78%. The company announced the resignation of Bhavneet Singh Chadha from the position of chief financial officer (CFO) and key managerial personnel of the company due to personal reasons.
Quadrant Future Tek soared 9.71% after the company has received an order from Chittaranjan Locomotive Works (CLW) for the supply, installation, testing and commissioning of 353 onboard KAVACH locomotive equipment.
NLC India advanced 2.04% after signing a non-binding MoU with the Government of Gujarat to develop large-scale renewable energy projects, including solar, wind, hybrid and battery storage. The projects, to be executed via its arm NLC India Renewables, carry an investment potential of about Rs 25,000 crore and align with its plan to reach 10 GW of RE capacity by 2030.
Garment Mantra Lifestyle rallied 3.48% after the company said it has achieved export sales of Rs 100 crore in the current financial year, marking the highest-ever export performance since its inception.
Oswal Pumps rose 1.16%. The company received an LoA worth Rs 119.92 crore from Karnataka Renewable Energy Development for the supply and installation of 3,263 off-grid DC solar pumping systems across Karnataka.
Ajmera Realty & Infra India added 1.95% after the company reported quarterly sales of Rs 630 crore for Q3 FY26, marking a sharp increase of 123% compared with sales of Rs 270 crore recorded in Q3 FY25.
IPO Update:
The initial public offer (IPO) of Amagi Media Labs received bids for 35,08,780 shares as against 2,72,66,589 shares on offer, according to stock exchange data at 17:00 IST on Wednesday (14 January 2026). The issue was subscribed 0.13 times.
The issue opened for bidding on Tuesday (13 January 2026) and it will close on Friday (16 January 2026). The price band of the IPO is fixed between Rs 343 and 361 per share.
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