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Indices trade lower with cut of over half percent in late morning deals
Jan-08-2026

Domestic equity indices magnified their losses and were trading lower with cut of over half percent in late morning deals as market participants indulged in reducing their positions. Hectic selling in TCS, Tech Mahindra, Tata Steel, Bajaj Finserv and Reliance Industries companies’ stocks dragged the Sensex and Nifty below their psychological 84,600 and 26,000 levels respectively. Meanwhile, the broader markets were facing the heat of selling; the BSE mid-cap index declined by 1.49 per cent and the small-cap index was down 1.28 per cent. On the global front, Asian markets were trading mostly lower amid rising geopolitical tensions. Back home, all the sectoral indices on the BSE were trading in red led by Metal, Oil & Gas, Basic Materials, Energy and PSU. In the stock specific development, Meesho slumped after Megha Agarwal, general manager for business at the company resigned.

The BSE Sensex is currently trading at 84512.12, down by 449.02 points or 0.53% after trading in a range of 84500.01 and 84965.27. There were 10 stocks advancing against 20 stocks declining on the index.

The broader indices were trading in red; the BSE Mid cap index was down by 1.49%, while Small cap index down by 1.28%.

The top losing sectoral indices on the BSE were Metal down by 3.36%, Oil & Gas down by 2.46%, Basic Materials down by 2.20%, Energy down by 2.01% and PSU down by 1.54%, while there were no gainers on sectoral indices.  

The top gainers on the Sensex were Adani Ports up by 1.31%, Bharat Electronics up by 1.30%, Eternal up by 0.84%, ITC up by 0.72% and Hindustan Unilever up by 0.68%. On the flip side, TCS down by 3.02%, Tech Mahindra down by 2.24%, Tata Steel down by 1.90%, Bajaj Finserv down by 1.42% and Reliance Industries down by 1.22% were the top losers.

Meanwhile, External Affairs Minister S Jaishankar has said that India is strengthening its relationship with Europe and both sides can bring greater stability to the international economy and global politics. After holding talks with French Foreign Minister Jean-Noel Barrot in Paris, his remarks came in the face of a factitious geopolitical environment, including global concerns over the way the United States has carried out a military operation in Venezuela to capture President Nicolas Maduro.

He said Europe is an important player in global politics, making it essential for India to strengthen its relationship with the region. Further, he said that his visit to Europe was a very conscious choice, reflecting India’s belief that its relationship with Europe is poised to grow to the next level. His remarks came amid New Delhi's frosty ties with the US after President Donald Trump slapped a whopping 50 per cent tariff on India. 

He asserted ‘Looking back over the past few weeks, we have held several discussions within India on matters dealing with Europe, the FTA (Free Trade Agreement), technology issues, semiconductors, railways, defence, aviation. So there is really a very substantive relationship, much more that can be done. But other than that, I think there is a larger discussion today that the world needs about the global order.’

The CNX Nifty is currently trading at 25969.00, down by 171.75 points or 0.66% after trading in a range of 25967.80 and 26133.20. There were 12 stocks advancing against 38 stocks declining on the index.

The top gainers on Nifty were Adani Ports up by 0.79%, Bharat Electronics up by 0.67%, Eternal up by 0.66%, ICICI Bank up by 0.55% and Interglobe Aviation up by 0.45%. On the flip side, Hindalco down by 3.73%, TCS down by 2.80%, JSW Steel down by 2.71%, JIO Financial down by 2.57% and HDFC Life down by 2.40% were the top losers. 

Asian markets were trading mostly in red; Nikkei 225 slipped 638.98 points or 1.23% to 51,323.00, Taiwan Weighted lost 1.65 points or 0.01% to 30,433.82, Hang Seng declined 383.95 points or 1.45% to 26,075.00, Straits Times fell 8.23 points or 0.17% to 4,739.39 and Shanghai Composite weakened 4.25 points or 0.1% to 4,081.52. However, Jakarta Composite gained 39.67 points or 0.44% to 8,984.48 and KOSPI increased 25.41 points or 0.56% to 4,576.47.
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