Benchmark stock market indices closed marginally lower, recovering from the decline it witnessed in early trade as persistent FII outflows and delayed US-India trade deal have weighed in on market sentiment.
The S&P BSE Sensex was down by 54.30 points to close at 85,213.36, while the NSE Nifty50 lost 19.65 points to end at 26,027.30.
Vinod Nair, Head of Research, Geojit Investments Limited, said that persistent foreign fund outflows and a weak rupee have kept markets in a narrow range, with currency volatility likely to continue until clarity emerges on the India–US trade deal.
“Expectations of an earnings recovery in H2FY26, supported by monetary and fiscal growth drivers, are helping stabilise sentiment. Going forward, market momentum is expected to be earnings-led rather than valuation-driven. Investors are also awaiting key economic indicators, including U.S. CPI inflation and unemployment data, which will shape global liquidity expectations and the interest rate outlook for 2026,” he added.
Among the top gainers, Hindustan Unilever led the pack with a rise of 1.37%, followed by Trent which gained 0.79%. HCL Technologies moved up 0.68%, Asian Paints added 0.53%, and Tata Steel rose 0.52%, offering some support to the index.
On the losing side, Mahindra & Mahindra emerged as the biggest loser, falling 1.94%. It was followed by Maruti Suzuki, down 0.89%, Adani Ports, which slipped 0.81%, Bajaj Finserv, down 0.75%, and HDFC Bank, which declined 0.56%.
“Looking ahead, indications point toward continued consolidation within the 25,800–26,200 range. Choppiness is likely to persist due to the weekly expiry and ongoing currency volatility. Sector focus for the next session should remain on banking and IT, given their market-leading weight and sensitivity to flows, while defensive and commodity-linked themes may offer tactical opportunities. Traders are advised to maintain disciplined risk management and avoid averaging into underperforming positions,” said Ajit Mishra – SVP, Research, Religare Broking Ltd.
