Last Updated on January 7, 2026 10:48 pm by INDIAN AWAAZ
Despite short-term softness, analysts maintain a bullish positional trend. Nifty is expected to consolidate between 26,000–26,370 before attempting a move towards 26,500–26,800, with 26,050–26,100 acting as strong support.
AMN / BIZ DESK
Indian equities extended their losing streak for the third consecutive session on Wednesday, though a late rebound helped indices trim intraday losses. The Nifty 50 fell 37.95 points (0.14%) to 26,140.75, while the Sensex shed 102.20 points (0.12%) to close at 84,961.14, recovering from a low of 84,617. Analysts noted a tug-of-war between bulls and bears, with the Nifty defending the crucial 26,100 support zone after an 86-point recovery in the final hour.
Sector-wise Performance
Information Technology (IT):
- Nifty IT index surged 2.4%, emerging as the day’s star performer.
- Gains led by HCL Technologies (+2.36%), Wipro (+1.79%), and Tech Mahindra (+1.76%).
Consumer Durables & Jewellery:
- Titan Company jumped 3.94% to ₹4,273.90 on strong Q3 updates.
- Jewellery counters rallied: Senco Gold and Kalyan Jewellers rose 4–11%.
- Nifty Consumer Durables index gained 1.85%.
Pharmaceuticals:
- Sector rose 0.5%, though Cipla plunged 4.28% to ₹1,465.30, marking the sharpest decline among Nifty constituents.
Automobiles:
- Nifty Auto index slipped 0.8% after recent gains.
- Maruti Suzuki fell 2.81%, Tata Motors Passenger Vehicles dropped 1.60%.
Financials & Banking:
- Nifty Bank index eased 0.21% to 59,990.85.
- Nifty Financial Services index declined 0.33%.
- Jio Financial Services bucked the trend, rising 1.73%.
Broader Markets:
- Nifty Midcap 100 gained 0.45%, Smallcap 100 rose 0.39%.
- Market breadth remained marginally positive with more advances than declines.
Currency & Commodities
- Rupee appreciated 29 paise to 89.88 against the US dollar, its strongest single-session gain since mid-December, aided by RBI intervention.
- Lower crude oil prices provided relief to import-heavy economies like India.
Outlook
Despite short-term softness, analysts maintain a bullish positional trend. Nifty is expected to consolidate between 26,000–26,370 before attempting a move towards 26,500–26,800, with 26,050–26,100 acting as strong support.