Last Updated on January 6, 2026 11:17 pm by INDIAN AWAAZ
AMN BIZ DESK
Benchmark equity indices Sensex and Nifty closed lower for the second consecutive session on Tuesday, weighed down by heavy selling pressure in index heavyweights such as Reliance Industries and HDFC Bank, along with rising concerns over fresh trade tensions after the US issued warnings of possible tariff hikes on Indian exports. Cautious global cues and profit booking at higher levels further dampened investor sentiment.
The 30-share BSE Sensex declined 376.28 points, or 0.44 per cent, to close at 85,063.34. During intraday trade, the index slipped as much as 539.52 points to touch a low of 84,900.10. Meanwhile, the NSE Nifty fell 71.60 points, or 0.27 per cent, to settle at 26,178.70.
Market breadth remained weak as selling pressure intensified in select frontline stocks. Trent witnessed a sharp fall of 8.62 per cent after the Tata Group’s retail arm reported December-quarter revenue growth that fell short of market expectations. Reliance Industries plunged 4.42 per cent, emerging as the biggest drag on the indices. Stocks like ITC, Kotak Mahindra Bank, InterGlobe Aviation and HDFC Bank also ended in the red.
On the positive side, selective buying was seen in banking and FMCG counters. ICICI Bank, State Bank of India, Hindustan Unilever and Sun Pharma provided some support to the market, helping limit deeper losses.
Vinod Nair, Head of Research at Geojit Investments Limited, said the correction was largely driven by selling pressure in large-cap stocks.
“The market reaction was influenced by uncertainties surrounding the Venezuela–US crisis and Russian oil imports, along with anticipation ahead of Q3 earnings,” Nair said. “While most sectors witnessed profit booking, Pharma, Banking and IT stocks showed relative resilience.”
He added that banking stocks drew support from positive pre-quarter business updates, while pharma stocks gained on the back of steady growth reported by the Indian Pharmaceutical Market for December.
Overall, investors remained cautious amid geopolitical uncertainties, global trade worries, and valuation concerns, while markets now await further global cues and domestic macroeconomic signals for direction.
Sector-wise Performance
- Oil & Gas: Underperformed sharply due to a steep fall in Reliance Industries.
- Banking & Financials: Mixed trend; private banks like HDFC Bank and Kotak Mahindra Bank declined, while ICICI Bank and SBI gained.
- FMCG: Largely resilient with gains in Hindustan Unilever, though ITC faced selling pressure.
- Pharma: Marginally positive, led by Sun Pharma.
- Aviation & Retail: Weak sentiment as InterGlobe Aviation and Trent saw notable declines.