Benchmark indices began Wednesday on a muted note, with investor sentiment dampened by losses in auto and metal stocks, despite gains in the previous session. At 9:28 am, the BSE Sensex had slipped 197.64 points to 82,373.27, while the NSE Nifty50 was down 61.80 points at 25,134.00.
According to Dr. VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the market has remained in a narrow range for the last two months, with a breakout above Nifty 25,500 requiring strong positive triggers. While an India-US trade deal with lowered tariffs could act as such a catalyst, he believes a sustained market rally is unlikely in the current environment.
Early Gainers:
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Trent: +1.15%
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Adani Ports: +1.11%
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Tech Mahindra: +0.97%
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State Bank of India (SBI): +0.66%
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Infosys: +0.58%
Early Losers:
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Tata Steel: –1.23%
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Mahindra & Mahindra: –1.00%
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Tata Motors: –0.91%
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Eternal Health: –0.83%
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ICICI Bank: –0.73%
Broader Market Snapshot:
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Nifty Midcap100: +0.01%
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Nifty Smallcap100: –0.09%
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India VIX (Volatility Index): –0.34%
Sectoral Performance:
Gainers:
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Nifty Media: +1.18%
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Nifty Realty: +0.06%
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Nifty IT: +0.05%
Losers:
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Nifty Auto: –0.90%
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Nifty Metal: –0.57%
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Nifty Consumer Durables: –0.22%
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Nifty Financial Services: –0.12%
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Nifty Pharma: –0.12%
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Nifty Oil & Gas: –0.13%
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Nifty FMCG: –0.06%
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Nifty Healthcare: –0.04%
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Nifty Private Bank: –0.02%
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Nifty PSU Bank: Flat (0.00%)
Vijayakumar also emphasized that earnings growth remains a concern, particularly with IT services and FMCG showing weak performance. Although there are early signs of a recovery in FMCG, the IT sector continues to lag, keeping FY26 earnings growth estimates around 10% — a key headwind for further market upside.
