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Key gauges trade marginally lower in morning deals
Jan-06-2026

Indian equity benchmarks were trading marginally lower in morning deals dragged by heavy selling in blue-chips like Trent, Reliance Industries and HDFC Bank, and worries over fresh warning from the US to further raise tariffs against India. Traders remained cautious as exchange data showed that foreign institutional investors offloaded equities worth Rs 36.25 crore on Monday after a day's breather. Some concern also came as apex exporters' body Federation of Indian Export Organisations (FIEO) stated that beyond the existing 50 percent tariff, a further hike by the US, will badly hit Indian exports, particularly in traditional sectors of exports. Traders took a note of data compiled by S&P Global showing that the HSBC India Services Purchasing Managers’ Index (PMI) falling to 58.0 in December 2025 from 59.8 in November, 2025. The growth remained strong, with the index staying well above the neutral mark. On the global front, Asian markets are trading higher extending the record-breaking run for global stocks as investors looked past geopolitical concerns. 

The BSE Sensex is currently trading at 85257.45, down by 182.17 points or 0.21% after trading in a range of 85007.67 and 85397.78. There were 19 stocks advancing against 11 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index fell 0.10%, while Small cap index was down by 0.15%.

The top gaining sectoral indices on the BSE were Metal up by 1.12%, Healthcare up by 0.50%, Basic Materials up by 0.42%, Bankex up by 0.39% and TECK up by 0.35%, while Energy down by 1.65%, Oil & Gas down by 1.51%, Consumer Disc down by 0.47%, FMCG down by 0.18% and Realty down by 0.11% were the top losing indices on BSE.

The top gainers on the Sensex were ICICI Bank up by 2.59%, Bajaj Finserv up by 1.69%, SBI up by 0.95%, Ultratech Cement up by 0.93% and Asian Paints up by 0.86%. On the flip side, Trent down by 7.13%, Reliance Industries down by 3.26%, HDFC Bank down by 1.44%, Eternal down by 1.17% and Adani Ports &SEZ down by 0.90% were the top losers.

Meanwhile, the rating agency -- India Ratings and Research (Ind-Ra) has said India's highway sector is facing problems, with subdued central road award activity for the past two years, leading to increased competition and persistent project execution issues. Further, it said that although state awards have come to the rescue, the sector is expected to see weak revenue growth and lower margins.

Moreover, the sector is expected to witness more build-operate-transfer (BOT) projects at both the central and state levels, which will require greater private investment. Besides, it projects the overall engineering, procurement and construction (EPC) sector to record modest year-on-year revenue growth of 6% to 8% in FY26, largely due to flat-to-negative growth in the highways sector, following a significant revenue decline in FY25.

It said margins are expected to bottom out in FY26, after decreasing about 500bp between FY21 and FY26. However, it said that working capital cycles may start to rise as the project mix shifts more toward state-level awards. Krishan Binani, Director, Corporate Ratings, Ind-Ra, said ‘The muted central award activity has altered the sector's dynamics, pushing states into the driver's seat. While this shift ensures continuity, it also introduces complexities around execution and financing.’

The CNX Nifty is currently trading at 26231.50, down by 18.80 points or 0.07% after trading in a range of 26144.70 and 26273.95. There were 35 stocks advancing against 15 stocks declining on the index.

The top gainers on Nifty were Hindalco up by 3.35%, Apollo Hospital up by 2.80%, ICICI Bank up by 2.54%, Bajaj Auto up by 1.99% and Bajaj Finserv up by 1.78%. On the flip side, Trent down by 7.19%, Reliance Industries down by 3.23%, Tata Motors Passenger down by 1.85%, HDFC Bank down by 1.49% and Eternal down by 1.10% were the top losers.

All Asian markets are trading higher; Nikkei 225 surged 592.2 points or 1.14% to 52,425.00, Taiwan Weighted added 325.01 points or 1.08% to 30,430.05, Jakarta Composite gained 26.95 points or 0.3% to 8,886.14, Shanghai Composite strengthened 45.96 points or 1.14% to 4,069.38, KOSPI increased 37.87 points or 0.85% to 4,495.39, Hang Seng advanced 508.76 points or 1.89% to 26,856.00 and Straits Times rose 52.44 points or 1.12% to 4,732.94.
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