The domestic equity indices traded with minor losses in early trade, extending their decline for a fifth consecutive session, as investors remained cautious ahead of a U.S. Supreme Court ruling on the legality of U.S. tariffs, which have weighed on markets in recent sessions.
The Nifty traded below the 25,900 level. Oil & gas, PSU bank and IT shares advanced while realty, media and pharma shares declined.
At 09:28 IST, the barometer index, the S&P BSE Sensex, declined 83.65 points or 0.10% to 84,097.79. The Nifty 50 index fell 24.10 points or 0.09% to 25,861.05.
The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 0.55% and the S&P BSE Small-Cap index shed 1.02%.
The market breadth was negative. On the BSE, 1,010 shares rose and 2,023 shares fell. A total of 147 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, was up 0.54% to 10.66.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,367.12 crore, while domestic institutional investors (DIIs) were net buyers to the tune of Rs 3,701.17 crore in the Indian equity market on 07 January 2026, provisional data showed.
Stocks in Spotlight:
SML Mahindra shed 0.47%. The company’s commercial vehicle production jumped 39.1% to 1,455 units in December 2025, compared with 1,046 units produced in December 2024.
A B Infrabuild added 1.19% after the company announced that it has received a letter of acceptance (LoA) worth Rs 54.26 crore from East Coast Railway, Indian Railways, for the construction of a Road Over Bridge (ROB).
Numbers to Track:
The yield on India's 10-year benchmark federal paper rose 0.15% to 6.640 compared with previous session close of 6.611.
In the foreign exchange market, the rupee edged lower against the dollar. The partially convertible rupee was hovering at 89.9000 compared with its close of 89.9025 during the previous trading session.
MCX Gold futures for 5 February 2026 settlement rose 0.19% to Rs 138,000.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.06% to 98.93.
The United States 10-year bond yield fell 0.17% to 4.178.
In the commodities market, Brent crude for March 2026 settlement added 27 cents or 0.45% to $60.23 a barrel.
Global Markets:
Asian markets advanced despite China’s consumer prices rose 0.8% from a year earlier, according to data from the National Bureau of Statistics on Friday. The reading followed a 0.7% climb in November.
In U.S., investors are awaiting two key catalysts on Friday. First, the Supreme Court could issue a ruling on the legality of President Donald Trump’s tariffs, which could have an impact on trade policy and the nation’s fiscal situation. Second, the December jobs report will be out on Friday morning.
Overnight in the U.S., the Dow Jones Industrial Average rose while the Nasdaq Composite came under pressure as investors moved away from technology stocks. The Dow Jones Industrial Average climbed 270.03 points, or 0.55%, and ended at 49,266.11, the S&P 500 advanced 0.01% and closed at 6,921.46, while The tech-heavy Nasdaq dropped 0.44% and settled at 23,480.02