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Below the Quote on Evening Markets 06th January 2026 by Mr. Vikram Kasat, Head - Advisory, PL Capital

Indian equities ease from record highs amid global caution

Indian equity benchmarks ended Tuesday’s session on a subdued note, retreating from record levels as investors turned cautious amid concerns over potential fresh US tariff measures, even as ongoing quarterly business updates lent some support to the broader sentiment.

The Sensex declined 376 points to close at 85,063.34, while the Nifty 50 slipped 72 points to end at 26,178.70. 

In contrast, the Bank Nifty managed to outperform, gaining 74 points to settle above the 60,100 mark, supported by buying in ICICI, SBI and few selective banking names.

Market breadth remained weak through the session. 

Sectoral performance was mixed. Pharma and healthcare index emerged as the top performers, while IT and select financial stocks also closed in positive territory.

Most other sectoral indices ended lower. oil & gas, Infrastructure, media, and capital goods stocks declined between 1–2 percent.

Broader markets mirrored the cautious tone, with both BSE Midcap and Smallcap indices closed marginally lower.

On the Nifty, heavyweights such as Trent, Reliance Industries, ITC, Kotak Mahindra Bank, and InterGlobe Aviation were top losers whereas, on the upside, gains were led by Apollo Hospitals, ICICI Bank, HDFC Life, Sun Pharma, and Tata Consumer Products, reflecting stock-specific buying interest.

Overall sentiment remains cautiously optimistic. Going ahead, global market cues and Q3 earnings announcements are expected to remain the key drivers for market direction in the near term.

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