Key points
- US tariff threats weigh on sentiment
- Earnings optimism fails to lift markets
- Jewellery stocks rally on strong updates
ISLAMABAD: Indian equity markets edged lower on Wednesday as geopolitical concerns and renewed worries over potential US tariffs overshadowed optimism surrounding the upcoming earnings season.
The benchmark Nifty 50 index slipped 0.26 percent to 26,111.9, while the BSE Sensex fell 0.23 percent to 84,870.36 by mid-morning trade. Both indices retreated for a second consecutive session after hovering near record highs earlier this week, reports Reuters.
Market sentiment weakened following fresh tariff threats from US President Donald Trump, reportedly linked to India’s purchases of Russian crude oil. Investors also remained cautious ahead of the corporate earnings season, scheduled to begin next week.
“Near-term sentiment remains cautious as markets stay sensitive to trade and geopolitical developments, along with fluctuations in crude oil prices,” said Hitesh Tailor, research analyst at Choice Equity Broking.
Ten of the 16 major sectoral indices traded in the red, while broader mid-cap and small-cap indices were largely flat.
Individual stocks
Among individual stocks, Titan Company gained 3.5 percent after reporting a strong December-quarter business update, with revenue rising around 40 percent, driven largely by its jewellery segment.
Jewellery retailer Senco Gold surged 9.3 percent after issuing a robust quarterly update and reiterating confidence in achieving over 25 percent growth in the 2026 financial year.
On the downside, Tata Motors Passenger Vehicles fell 2.3 percent after reporting a decline in Jaguar Land Rover sales during the December quarter. Indian Hotels slipped 2.5 percent after Morgan Stanley downgraded the stock to “equal-weight”.
Reliance Industries rose 0.8 percent, rebounding from the previous session’s sharp decline, amid expectations that tariff hikes, a potential Jio listing and retail growth could support the stock in 2026, analysts said.
