The domestic equity indices traded with minor losses in early trade, extending their decline to a fourth consecutive session, as concerns over U.S. tariffs and continued foreign fund outflows overshadowed pockets of optimism around earnings growth.
The Nifty traded below the 26,100 level. Barring the realty index, all other indices traded in the red on the BSE.
At 09:30 IST, the barometer index, the S&P BSE Sensex, declined 232.38 points or 0.24% to 84,769.97. The Nifty 50 index fell 71.80 points or 0.27% to 26,068.95.
In the broader market, the S&P BSE Mid-Cap index fell 0.39% and the S&P BSE Small-Cap index shed 0.19%.
The market breadth was negative. On the BSE, 1,353 shares rose and 1,640 shares fell. A total of 179 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was up 0.82% to 10.03.
Foreign portfolio investors (FPIs) sold shares worth Rs 107.63 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 1,749.35 crore in the Indian equity market on 06 January 2026, provisional data showed.
Stocks in Spotlight:
Zaggle Prepaid Ocean Services rose 0.50%. The company announced that it has entered into an agreement with Cubastion Consulting.
Tata Steel shed 0.11%. The company’s India crude steel production stood at 6.34 million tons in Q3 FY26, up 12% QoQ and YoY, primarily aided by higher output at Jamshedpur and Kalinganagar facilities.
Meesho tanked 4.49% after its general manager- business, Megha Agarwal has tendered her resignation with effect from 7 January 2026.
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.11% to 6.618 compared with previous session close of 6.612.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.9700 compared with its close of 89.8700 during the previous trading session.
MCX Gold futures for 5 February 2025 settlement shed 0.22% to Rs 137,700.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.04% to 98.71.
The United States 10-year bond yield added 0.12% to 4.144.
In the commodities market, Brent crude for March 2026 settlement added 27 cents or 0.45% to $60.23 a barrel.
Global Markets:
Asia-Pacific markets traded mixed on Thursday after Wall Street closed lower amid rising geopolitical tensions and comments from U.S. President Donald Trump.
U.S. defense stocks fell after Trump said he “will not permit” defense companies to issue dividends or stock buybacks until they address his complaints about the industry, including executive pay packages and production issues.
In U.S., the Dow Jones Industrial Average snapped a three-day winning streak, falling 466 points, or 0.94%, to close at 48,996.08. The S&P 500 declined 23.89 points or 0.34% to end at 6,920.93, while the tech-heavy Nasdaq Composite edged up 37.10 points or 0.16% to close at 23,584.28.